News

HUD’s Economic and Market Analysis Division recently released its Comprehensive Housing Market Analysis report for the Las Cruces, New Mexico market area.

A New York law allows municipalities outside of certain counties to adopt a new real property tax exemption for the construction or substantial rehabilitation of multiple dwellings.

The California Tax Credit Allocation Committee (TCAC) has reminded allocatees that carryover allocation documentation and payment of the allocation fee for all 2011 9% tax credit reservation recipients is due to TCAC no later than…

U.S. Representative Brian Higgins (D-NY) last week introduced H.R. 3224 to extend the New Markets Tax Credit (NMTC) program through 2016.

The Philadelphia Housing Authority (PHA) has announced it will be auctioning approximately 400 scattered site properties, consisting of vacant buildings and lots, which have been approved for sale by HUD.

The White House’s Rental Policy Working Group recently released realignment requirements for several critical administrative policy areas in order to better align Federal rental policy. As one of the first initiatives to be tested, the Michigan State Housing Development Authority (MSHDA) has been selected as the nation’s first housing authority to implement federal subsidy layering review realignment.

The Center for Budget and Policy Priorities (CBPP) recently released a report detailing the usage of Housing Choice Vouchers (HCV). The report finds that in 2010, 2,083,187 families in the United States used HCVs yet only 91 percent of the National authorized vouchers were utilized…

The Internal Revenue Service (IRS) has issued Notice 2011-83 to announce the suspension of certain requirements for low-income housing tax credit projects in order to provide emergency housing relief to individuals affected by Hurricane Irene and/or Tropical Storm Lee in Pennsylvania.

The public comment period for multiple Texas Department of Housing and Community Affairs (TDHCA) programs including the proposed 2012 Qualified Allocation Plan (QAP) began September 30 and is underway until 5:00 pm October 19, 2011. Public hearings for input on the various programs are scheduled between October 7 and October 17, 2011.

The Montana Board of Housing announced Mary Bair as its new Multifamily Program Manager.

The Ohio Housing Finance Agency has posted the following documents relative to the 2012 Qualified Allocation Plan.

In February 2011, the Hawaii State Legislature passed S.B. No. 1240 which created a mechanism to provide alternative financing assistance to incentivize the use of the State’s low-income housing tax credit program.