News
Report Shows Potential Impact of 1603 Extension
The Solar Energy Industries Association (SEIA) last week released a report entitled, “Economic Impact of Extending the Section 1603 Treasury Program.”
IRS Offers LIHTC Relief to Pennsylvania Storm Victims
The Internal Revenue Service (IRS) issued Notice 2011-83 to grant certain low-income housing tax credit (LIHTC) properties relief from certain requirements to provide emergency housing relief needed as a result of the devastation caused by Hurricane Irene or Tropical Storm Lee in Pennsylvania.
Study Examines Gulf Recovery After Hurricanes Katrina, Rita
U.S. Housing and Urban Development recently contracted with Abt Associates Inc. and released a two-part study examining the housing recovery efforts in the Gulf Coast after Hurricanes Katrina and Rita.
HUD Releases Market Analysis Report for Las Cruces, NM
HUD’s Economic and Market Analysis Division recently released its Comprehensive Housing Market Analysis report for the Las Cruces, New Mexico market area.
New York Tax Law Would Extend Property Tax Exemptions
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.
Reminder for 2011 Carryover Allocation Documentation
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…
Proposed Bill Would Extend NMTC Through 2016
U.S. Representative Brian Higgins (D-NY) last week introduced H.R. 3224 to extend the New Markets Tax Credit (NMTC) program through 2016.
Philadelphia to Auction Over 400 Scattered Site Properties
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.
Michigan Selected for Subsidy Layering Realignment Pilot Program
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.
CBPP Releases Paper on Voucher Utilization
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…
IRS Suspends LIHTC Requirements for Pennsylvania Storm Victims
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.
Texas Announces Public Comment Period for Draft 2012 QAP
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.