News

The Connecticut Housing Finance Authority (CHFA) has announced changes to the application and funding round schedules for both the Housing Tax Credit Contribution (HTCC) and Low-Income Housing Tax Credit (LIHTC) programs beginning in 2012.

The Connecticut Housing Finance Agency presented its draft 2012 Standards of Design and Construction at a Public Forum on November 22. The standards include guidelines for the project planning and technical review process, safety and sustainability guidelines, and are applicable for construction funding through 2012 CHFA Multifamily Underwriting and Asset Management financing programs.

HUD has released the 2012 Income Limits to be used by projects financed with low-income housing tax credits (LIHTC) and tax-exempt bonds, effective December 1, 2011.

The New Mexico Mortgage Finance Authority (MFA) has issued an RFP to solicit one or more individuals or firms for calendar years 2012 and 2013 to produce a series of affordable multifamily rental real estate market studies for proposed tax credit projects.

The Internal Revenue Service (IRS) recently announced the release of the updated Conservation Easement Audit Technique Guide (ATG).

The Texas Department of Housing and Community Affairs (TDHCA) has announced a meeting for the Rural Housing Workgroup. This meeting is being held in response the agency’s increased awareness of the unique challenges in serving rural populations.

The Internal Revenue Service (IRS) has released a Chief Counsel Advice (CCA) memorandum stating that the sale of certain Massachusetts state tax credits, including low-income housing and historic tax credits, to a third party by the original recipient is a taxable event.

The Texas Department of Housing and Community Affairs has announced the availability of up to $22,038,066 in funding from the HOME Investment partnerships Program for the development of affordable multifamily rental housing for low-income Texans.

The Technical Assistance Collaborative (TAC) has announced the launch of a new web site – the TAC Resource Center on Supportive Housing. The goal of the TAC Resource Center is to promote innovative supportive housing approaches and models which link affordable and accessible permanent housing resources with community-based supports and services for people with significant and long-term disabilities.

Last week, the U.S. Department of Treasury announced the extension of the New Issue Bond Program (NIBP) and Temporary Credit & Liquidity Program (TCLP). The NIBP extension notice states that Housing Finance Agencies (HFAs) may extend the deadline for release of Escrowed Proceeds and use the remainder of NIBP allocations through December 31, 2012.

Thanksgiving Week is an annual chance to slow down for a moment, put aside day-to-day crises, catch our breath and spend some introspective time considering all for which we can be thankful.

As we reflect on the past year, we are thankful to you and your companies for continuing to support our collaborative nationwide effort to improve and strengthen our industry in these difficult economic times…

The University of Minnesota has released a new report entitled, “Economic Impact of Projects Leveraged by the Minnesota Historic Rehabilitation Tax Credit.” The report analyzes the economic impact of the Minnesota Historic Rehabilitation Tax Credit, which was signed into law in April 2010.