News

A recent Administrative Notice released by the U.S. Department of Agriculture (USDA) Rural Development, Notice 4679, announces that the transition to using data from the 2010 decennial Census and American Community Survey (ACS) will be delayed until March 27, 2013, when the recently passed continuing resolution expires.

California Governor Jerry Brown recently signed into law a bill, AB 1124, which enables renters and landlords to be eligible for repair and replacement of furnaces and hot water heaters under California utilities’ energy efficiency programs.

The U.S. Department of Agriculture (USDA) Rural Development has released an Unnumbered Letter (UL) to provide guidance on the Rural Development Capital Needs Assessment (CNA) processes for multifamily properties.

The Internal Revenue Service (IRS) recently released final regulations, RIN 1545-BK04, modifying the reinvestment requirements of the New Markets Tax Credit (NMTC) program to encourage investments in non-real estate businesses for working capital and equipment.

HUD has announced the expansion of its FHA Low-Income Housing Tax Credit (LIHTC) Pilot program by increasing the number of participating HUD Hub Processing Offices by five and to make the pilot available to LIHTC projects in all parts of the country. The added HUD offices are in Atlanta, Denver, Fort Worth, San Francisco, and Seattle. They join the original participating Hub Offices in Boston, Chicago, Detroit, and Los Angeles.

The Government Accountability Office (GAO) has issued a new report titled “Community Reinvestment Act: Challenges in Quantifying Its Effect on Low-Income Housing Tax Credit Investment.”

The Tennessee Housing Development Agency announced Ralph Perrey as the new Executive Director in a press release on September 25, 2012. Perrey will leave his current position on THDA’s Board of Directors on October 16 in order to begin his term in this new position.

On Friday, September 21, the Romney campaign released a short white paper entitled “Securing the American Dream and the Future of Housing Policy”, which details the Republican presidential candidate’s plans for “reduc[ing] the outsized role of the government and revitaliz[ing] the private sector’s role in the housing market to end the housing crisis and preserve the American Dream of homeownership.”

HUD has opened the competitive application period for conversions under the first component of the Rental Assistance Demonstration (RAD) program.

The Community Development Financial Institutions (CDFI) Fund has announced that it received 282 applications for the 2012 New Markets Tax Credit (NMTC) application round. The community development entities (CDEs) requested a combined $21,901,474,907 in allocation authority and are headquartered in 44 states, the District of Columbia and Puerto Rico.

The North Carolina Housing Finance Agency has released the first draft of its 2013 Qualified Allocation Plan along with a memo of major revisions.

The Minnesota Housing Finance Agency announced a change in leadership for its tax credit program team.