News

President Barack Obama recently announced his intent to nominate Carole J. Galante as HUD’s Assistant Secretary and Commissioner of the Federal Housing Administration (FHA). Galante previously served as Deputy Assistant Secretary for the Office of Multifamily Housing at HUD.

The Local Initiatives Support Corporation (LISC) has leveraged a $5 million grant from the federal Capital Magnet Fund and a $19 million loan from Morgan Stanley to launch the Neighborhood Revitalization Loan Fund.

The Massachusetts Legislature recently gave initial approval to a supplemental budget bill, which includes provisions to raise the cap on State Low Income Housing Tax Credits (LIHTC) by $10 million in 2013 and $10 million in 2014.

HUD’s Department of Policy Research & Development has published three more Comprehensive Housing Market Analyses for State College, Pennsylvania; Victoria, Texas; and New Orleans, Louisiana.

The US Green Building Council will host a free 3-part webinar series exploring green affordable housing development. The webinars will examine case studies to discover factors driving green affordable housing, as well as strategies for success and the benefits of going green and will explore the tools and strategies to finance retrofits of existing multifamily developments.

The Arizona Department of Housing (ADOH) has released the draft 2012 Qualified Allocation Plan for public review and comment.

HUD Secretary Shaun Donovan announced HUD will speed federal disaster assistance to the State of Maryland and provide support to homeowners and low-income renters who have been displaced or whose residences are uninhabitable as a result of Tropical Storm Lee.

The Community Development Financial Institution Fund (CDFI Fund) announced Dennis Nolan as the newest Deputy Director of the CDFI Fund beginning Monday October 24, 2011.

HUD Secretary Shaun Donovan announced HUD will speed federal disaster assistance to the State of New Jersey and provide support to homeowners and low-income renters who have been displaced or whose residences are uninhabitable as a result of Tropical Storm Lee.

The South Carolina State Housing Finance and Development Authority (SC State Housing) released its draft 2012 Qualified Allocation Plan (QAP) and proposed 2012 Low-Income Housing Tax Credit (LIHTC) Manual.

The New Mexico Mortgage Finance Authority released the final Qualified Allocation Plan (QAP) for 2012. The agency will host a 2012 QAP and LIHTC application training on November 17, 2011 from 8:30 am to 12:30 pm. Registration is required and space is limited to 70 people. The 2012 tax credit application round deadline has been set for 5:00 pm on January 31, 2012

The Virginia Housing Development Authority (VHDA) released the final Qualified Allocation Plan (QAP) for 2012. VHDA Board of Commissioners approved the document on October 12, 2011. The reservation application and market study deadline is scheduled for 2:00 pm on March 16, 2012.