News

In advance of their August 15, 2012 LIHTC application deadline, the Michigan State Housing Development Authority issued a memo to ensure that stakeholders are aware of the change in the credit rate available mandated by the Housing and Economic Recovery Act of 2008 (HERA).

The Montana Board of Housing has scheduled a public work session with the Board for August 16th, 2012 at 8:30a.m. at the Red Lion Colonial Hotel in Helena, MT.

Oregon Housing & Community Services approved its 2012 Consolidated Funding Cycle (CFC) awards for multi-family housing during their July State Housing Council meeting. The state awarded more than $36 million in grants and tax credits to projects in 21 Oregon communities.

The Pennsylvania Housing Finance Agency will be holding their Pre-Application Meeting for its 2013 PennHOMES/Low Income Tax Credit (LIHTC) programs on Thursday, September 20, 2012. PHFA strongly suggests all prospective applicants attend this meeting.

The Massachusetts General Court recently passed MA House Bill 4352, an economic development bill relative to several infrastructure investment measures, enhanced competitiveness and economic growth in the Commonwealth of Massachusetts.

The Illinois General Assembly recently passed House Bill 5450, amending the Rental Housing Support Program Act, which governs the Rental Housing Support Program (RHSP).

HUD recently published Housing Notice H 2012-14 which requires property owners that receive Housing Assistance Payments (HAP) to offset monthly subsidies with funds from their Residual Receipts account. The new policy outlines the obligations and duties of owners and the responsibilities of HUD Field staff in processing and monitoring the use of residual receipts.

U.S. Congressman Joe Baca (D-CA) recently introduced the Affordable Housing for Moderate-Income Seniors Act (HR 6295) which would encourage the development of affordable housing for moderate-income seniors.

The San Francisco, California Board of Supervisors recently voted to include a measure (originally proposed by Mayor Ed Lee) on November 2012 election ballots which would create a Housing Trust Fund (HTF) at the city level. The HTF would produce a dedicated funding stream to be used to create, acquire, rehabilitate affordable housing and would also promote affordable homeownership programs.

The Mississippi State Legislature recently passed HB 1257 to amend Section 57-105-1 of the Mississippi Code of 1972 in order to allow certain public entities to participate in New Markets Tax Credit financing as qualified low-income businesses.

The Wisconsin Housing and Economic Development Authority (WHEDA) has released a final draft of it 2013-2014 Qualified Allocation Plan (QAP) and Scoring Exhibit. The Board is expected to take action on the proposed QAP at its meeting on August 15, 2012.

HUD will be offering several HOME training programs across the country over the next several months.