News

The National Affordable Housing Management Association (NAHMA) has released its Affordable 100 list, which accounts for the largest affordable multifamily property management companies, ranked by total affordable units.

Representative Ed Towns (D-NY) recently introduced legislation (HR 5718) in the U.S. House of Representatives to amend Section 45D of the Internal Revenue Code of 1986 to revise the New Markets Tax Credit (NMTC) Program and the rules related to population census tracts with low-income populations.

The Maryland Department of Housing and Community Development (DHCD) has announced the opening of the application period for its Rental Housing Works (RHW) program. RHW is a gap financing program for projects funded using DHCD’s Multifamily Bond Program (MBP); RHW applications must be submitted in conjunction with a MBP application.

The Community Development Financial Institutions Fund (CDFI Fund) recently released a study conducted by the Government Accountability Office (GAO) that found that the CDFI and New Markets Tax Credit (NMTC) Programs were meeting goals set for proportionally awarding organizations that serve rural areas.

A group of national trade organizations representing organizations involved in the development, construction, ownership, and management of market rate and affordable multifamily rental housing and health care facilities sent a letter to HUD regarding the agency’s recent increase of mortgage insurance premiums (MIPs) for certain FHA multifamily housing, health care facilities, and hospital mortgage insurance programs for commitments to be issued or reissued in FY2013.

The Kentucky Housing Corporation (KHC) has announced it will accept applications for Project-Based Section 8 Housing Choice Vouchers on Monday, June 25, 2012.

The U.S. Department of Housing and Urban Development has issued Mortgagee Letter 2012-8 that sets forth HUD’s policy for defining the indebtedness eligible for refinancing in connection with healthcare (Sections 232 and 242) projects, and in connection with multifamily projects to include interest rate swap termination fees.

The Alaska Housing Finance Corporation (AHFC) has compiled a new list of questions and comments regarding the proposed FY2013 GOAL Program Rating and Award Criteria (QAP).

HUD recently published Notice H 2012-8, which provides guidance for the pre-payment and refinancing of Section 202 Direct Loan projects, and supersedes all outstanding policy regarding Section 202 Direct Loan pre-payments.

The New Jersey Housing and Mortgage Finance Agency (HMFA) is proposing amendments to the state’s QAP that would provide more incentives for the development of homeless family units, encourage development of mixed-income properties, and limit development in areas already containing a large number of LIHTC properties.

The North Dakota State Attorney General, Birch P. Burdick, issued an opinion letter regarding the usage of rent restrictions or tax credits in the valuation of LIHTC properties.

HUD recently issued Notice PIH 12-20 which retracts a former notice, PIH Notice 12-19 titled “Implementation of Funding for Tenant-Protection Vouchers for Certain At- Risk Households in Low-Vacancy Areas”.