News

Virginia Housing Development Authority (VHDA) Executive Director Jim Chandler recently issued a 2012 QAP Letter that provides an update on certain aspects of the 2012 Low-Income Housing Tax Credit procedures, including a summary of major changes to the 2012 Qualified Allocation Plan (QAP).

The Department of Housing and Urban Development (HUD) is soliciting public comments and feedback from potential applicants of a new pilot program seeking innovative proposals for increasing the energy efficiency of multifamily housing developments.

HUD’s Office of Policy Development & Research has released a new Guide for HUD USER Data Sets. The guide is intended to serve as a helpful reference tool for the data sets available from the HUD USER Clearinghouse, and on the HUD USER website.

HUD’s Office of Policy Development & Research has released a new Best Practices case study for a senior apartments project in Salinas, CA.

Maine’s Blue Ribbon Commission on Affordable Housing had its inaugural meeting in Augusta last week to plot out a course of action to address Maine’s crisis in low-income housing.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) recently released data collected on projects financed through the New Markets Tax Credit (NMTC) program. Treasury collects this data, along with audited financial statements, annually from Community Development Entities (CDEs) that have been awarded NMTC allocations within six months of the end of the CDEs fiscal year.

Recently, at a State job summit convened in St. Paul, Minnesota Governor Mark Dayton announced his intentions to create a state New Markets Tax Credit Program (NMTC).

The Michigan State Housing Development Authority (MSHDA) has announced it has reinstated deadline extension fees for LIHTC applications, effective immediately.

New York Governor Andrew Cuomo recently signed legislation that allows New York State Housing Finance Agencies (HFAs) including the New York City Housing Development Corporation (HDC) and the New York State Housing Finance Agency (HFA) to issue unrated bonds for private placement in order to finance affordable housing developments.

The Ohio Housing Finance Agency (OHFA) has released its 2012 Draft Appraisal Guidelines for projects that are seeking housing credits or gap financing resources, and has opened a public comment period.

HUD has published a notice that designates Difficult Development Areas (DDA) for purposes of the Low-Income Housing Tax Credit. HUD makes new DDA and Qualified Census Tract (QCT) designations annually.

HUD has released the operating cost adjustment factors (OCAFs) for project based assistance contracts for eligible multifamily housing projects having an anniversary date on or after February 11, 2012.