News

The National Housing & Rehabilitation Association (NH&RA) today presented developer Robert J. Greer, President of the Michaels Development Company, with its inaugural Chairman’s Award, at the organization’s 2012 Summer Institute conference in Edgartown, Massachusetts.

The Senate Finance Committee recently held a markup hearing to discuss the Family and Business Tax Cut Certainty Act of 2012 which includes more than $205 billion in tax cut extensions for families and businesses. The bill, which passed the Committee by a margin of 19 to 5, would extend the new markets tax credit (NMTC) program for two years, through 2013, permitting up to $3.5 billion in qualified equity investments for each of calendar years 2012 and 2013.

We are pleased to welcome Pat Costigan, Special Adviser to the Secretary, U.S. Department of Housing and Urban Development, as the keynote speaker at this year’s National Council of Real Estate Market Analysts Annual Meeting, September 6-7 at the Conrad Hotel in Chicago.

We are very pleased to announce that Aaron Gornstein, Undersecretary for Housing and Community Development in the Massachusetts Executive Office of the Governor, will be delivering the Keynote Address at NH&RA’s 2012 Fall Developers Forum. Registration is now open and our pre-sale registration discount expires this Friday, August 24! Multiple registration options are available.

HUD has released a Preview of Data for its U.S. Housing Market Conditions report for the second quarter of 2012. The quarterly report is a compilation of statistical data and written reports.

The Internal Revenue Service (IRS) recently issued Private Letter Ruling (PLR) 201232006 to allow a multifamily housing bond issuer to file an amended Form 8038 (Information Return for Tax-Exempt Private Activity Bond Issues) for a development where a filing error resulted in the issuer entering the wrong minimum set-aside requirements.

Senator Al Franken (D-MN) recently introduced the “Housing for Homeless Students Act of 2012″ (S 3494) which would amend certain aspects of the Internal Revenue Code of 1986 as it relates to students.

The Massachusetts Department of Housing and Community Development, along with its sister agencies, will be hosting an information session for developers on using the Community Based Housing (CBH) and Facilities Consolidation Fund (FCF) programs for the development of independent, integrated units in affordable housing developments.

The Texas Department of Housing and Community Affairs (TDHCA) will be hosting a series of workgroups and an online discussion forum to discuss proposed changes to the 2013 Uniform Multifamily Rules and Qualified Allocation Plan.

The Minnesota Housing Finance Agency will co-host a webinar with Minnesota Housing Partnership to review the draft of its 2013 Affordable Housing Plan on August 21, 2012

The Virginia Housing Development Authority (VHDA) has released its proposal for the 2013 Qualified Allocation Plan (QAP). In a memo, VHDA summarized the proposed changes, indicating changes to applicant qualifications and scoring allocations. These changes include:

The Maryland Department of Housing and Community Development (MDHCD) has released a proposed schedule for the revision of Maryland’s Qualified Allocation Plan (QAP) and Guide for CY 2013.