News

The U.S. Department of the Treasury Community Development Financial Institutions Fund (CDFI Fund) released public comments submitted in response to its Request for Public Comment regarding the CDFI Bond Guarantee Program (BGP). The BGP was enacted through the Small Business Jobs Act of 2010 on September 27, 2010 and is authorized through fiscal year 2014

President Obama intends to nominate Maurice A. Jones to succeed the retired Ronald C. Sims for the position of Deputy Secretary of the Department of Housing and Urban Development.

The Alabama Housing Finance Authority (AHFA) has released the draft 2012 Qualified Allocation Plan (QAP) for review and public comment. The plan incorporates very few alterations to the previous year’s plan.

The Texas Department of Housing and Community Affairs (TDHCA) announced a roundtable discussion about the proposed 2012 Qualified Allocation Plan (QAP) on September 27, 2011. In addition, the TDHCA Governing Board will meet to discuss the proposed QAP and the possibility of forward allocating commitments for 9% low income housing tax credits on October 4, 2011.

The Internal Revenue Service (IRS) today issued Notice 2011-74 to grant certain low-income housing tax credit (LIHTC) properties relief from specified Section 42 requirements to provide emergency housing relief needed as a result of the devastation caused by Tropical Storm Irene in Vermont beginning on August 27, 2011.

In a special called meeting on August 16, 2011, the Tax Credit Committee of the Tennessee Housing Development Agency’s Board of Directors considered various issues with regard to the Low-Income Housing Tax Credit Program for 2011 and 2012.

The California Tax Credit Allocation Committee (CTCAC) has proposed regulation changes to the state’s QAP in order to assist projects affected by the pending redevelopment litigation before the California State Supreme Court.

The Colorado Housing Finance Agency (CHFA) has released the first draft of the 2012 Qualified Allocation Plan (QAP) and a summary of proposed changes.

U.S. Representative Bruce Braley (D-IA) last week introduced the Rebuilding Communities Act (H.R. 2901), which would extend a provision enacted in 2008 that increased the historic tax credit to 26 percent and the rehabilitation tax credit to 13 percent in Midwestern communities affected by natural disasters.

Last week, U.S. Senator Maria Cantwell (D-WA) sent a letter to Senate Majority Leader Harry Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY) urging them to extend the New Markets Tax Credit (NMTC) Program and called for its inclusion in a Congressional jobs strategy.

Mayor Peter Carlisle today announced the mission of the Honolulu Affordable Housing Preservation Initiative, which will help to secure the affordability of twelve of the city’s low-income rental properties.

The Virginia Housing Development Authority (VHDA) has released its draft 2012 Qualified Allocation Plan (QAP).