News

HUD’s Office of Policy Research & Development has published the newest report in its series of ‘Best Practices’ examples, based on federal, state and local strategies that increase affordable housing opportunities, apply sustainable features and practices, and increase access to public transportation.

Introduced in late-December 2011 and passed by the Business and Consumer Affairs Subcommittee in early January, Florida House Bill 1119 increases the total amount of tax credits available to be allocated for the New Markets Development Program from $97.5 million to $195 million.

Missouri State Senate Bill (SB 531) modifies the low-income housing tax credit program and the historic preservation tax credit program by requiring the Department of Revenue to apply any increase in revenue generated from capping these tax credit programs to a decrease in the personal income tax rate to begin on January 1, 2016.

Governor Jerry Brown of California recently released his proposed 2012-2013 budget for the State of California. In the budget, Brown proposed a major reorganization of the state’s Business, Transportation, and Housing (BTH) Agency which would separate the state’s transportation and housing initiatives.

Maryland’s Governor Martin O’Malley, in partnership with the Maryland Department of Housing and Community Development (DHCD), recently announced a new $15 million rental housing initiative, “Rental Housing Works”, that will provide funding for up to 20 affordable housing projects in the State of Maryland.

The law firm of Miller & Chevalier filed an amicus brief on December 21, 2011 to the Third Circuit of the United States Court of Appeals on behalf of the National Trust for Historic Preservation and other organizations in the IRS appeal of Historic Boardwalk Hall, LLC v. Commissioner.

The Delaware State Housing Authority (DSHA) announced that applications for Low-Income Housing Tax Credits (LIHTCs) are now being accepted.

The U.S. Department of Agriculture (USDA) recently released a plan entitled “Blueprint for Stronger Service” which outlined the agency’s strategy to streamline operations and cut costs. In a fact sheet that outlined the next steps for the Office of Rural Development (RD), USDA revealed it intends to close 43 Rural Development (RD) local field offices in 17 different states.

HUD’s Economic and Market Analysis Division has published Comprehensive Housing Market Analysis reports for the Colorado Springs, CO and Tacoma, WA housing market areas.

The Delaware State Housing Authority has released its 2012 Qualified Allocation Plan for administering the low-income housing tax credit allocation process, as well as a cover letter, change sheet, attachments, and a summary of public comments.

The North Dakota Housing Finance Agency has released the final version of its housing tax credit allocation plan for 2012, as well as the funding application.

At its December 2011 meeting, the Connecticut Housing Finance Authority Board of Directors approved the draft 2012 Qualified Allocation Plan (QAP) and Low-Income Housing Tax Credit (LIHTC) Procedures for public comment.