News

Senators Roy Blunt (R-MO) and Jay Rockefeller (D-WV) recently introduced a measure to make permanent the New Markets Tax Credit (NMTC) program. The NMTC program was recently extended in the fiscal cliff deal but is set to expire at the end of 2013.

HUD recently released Notice H 2013-16 to notify owners of properties with a Section 515 Rural Rental Housing loan from the United States Department of Agriculture (USDA) and a Section 515/8 New Construction Housing Assistance Payments (515/8 HAP) contract from HUD that HUD is no longer requiring the submission of annual financial statements (AFS) for these properties.

HUD published a notice in the Federal Register to announce the inflation factors that will be used to adjust FY 2013 renewal funding for the Tenant-Based Rental Assistance voucher program or Housing Choice Voucher (HCV) program.

The New Markets Tax Credit (NMTC) Coalition recently released its annual 2013 NMTC Progress Report, which examines the NMTC activity and progress for most Community Development Entity (CDE) raising capital and making loans and investments in calendar year 2012.

HUD recently released Community Development Block Grant Program (CDBG) and HOME Investment Partnership Program formula allocations for FY 2013.

The National Affordable Housing Management Association (NAHMA) recently released its Affordable 100 which ranks the largest affordable multifamily property management companies, ranked by affordable unit counts. In an effort to accurately determine the portfolio of affordable units receiving federal subsidy in the United States, NAHMA publishes this annual listing of affordable units containing at least one of the following federal subsidies: HUD Project-based Assistance, Section 42 LIHTC, HOME funds, USDA Section 515, or Bonds. 

MaineHousing will hold a public hearing of the Draft 2014 Qualified Allocation Plan at 9:30 AM on Tuesday, June 18, 2013.

HUD recently released the FY2013 NOFA for Choice Neighborhoods Implementation Grants on the Grants.gov website. HUD will make approximately $109 million in grants to revitalize public and HUD-assisted housing and transform communities. Individual grant awards may be for up to a maximum of $30,000,000.

NMTC/NAA recently launched a new interactive website and calculator that allows users to interact with data from 50 states and twelve metropolitan areas. The report is part of an educational campaign called “We Are Apartments” which is to show what apartments mean to people and communities across the U.S.

The National Housing Conference and California Housing Partnership have published a new guide titled “Veterans Permanent Supportive Housing: Policy and Practice”.

The Texas Legislature this week approved H.B. 500, a measure which would create a tax credit for certified rehabilitation of certified historic structures.

The Community Development Financial Institutions Fund has released additional guidance regarding Treasury Decision (TD) 9600 issued by the Internal Revenue Service on September 28, 2012. The TD 9600 Frequently Asked Questions (FAQ) document covers programmatic and reporting changes to the New Markets Tax Credit Program regarding small business investments necessitated by the revised regulations. The guidance addresses the following questions…