News

U.S. Congressmen Jim McDermott (D-WA), Erik Paulsen (R-MN), and Keith Ellison (D-MN) have introduced a bill that would update the existing tax law to allow formerly homeless young people to pursue a four-year college education and still qualify for Low Income Housing Tax Credits housing units.

The Office of Development in HUD’s Office of Multifamily Housing Programs will host an overview of the revised 2011 MAP Guidebook via webcast on October 17, 2011 from 11:30 am to 3:00 pm with a 45 minute break for lunch between 12:30 and 1:15 pm. The implementation of the MAP Guidebook has been postponed until November 1, 2011 to accommodate more time for interested parties to raise questions and make comments about the revisions.

HUD has released the final fiscal year 2012 fair market rents (FMRs) to become effective October 1, 2011. The primary uses of FMRs are to determine payment standards for the Housing Choice Voucher (HCV) program, to determine renewal rents for expiring project based Section 8 contracts, to determine initial rents for housing assistance payment contracts in the Moderate Rehabilitation Single Room Occupancy program, and to serve as rent ceilings in the HOME program.

The Pennsylvania Housing Finance Agency (PHFA) has provided clarification on utility allowances for 2012 Multifamily Housing Program applicants. The notice does not change the application, rather provides further guidance on acceptable utility allowance submissions.

On August 5, 2011, Oregon Governor John Kitzhaber signed into law the Oregon Low Income Community Jobs Initiative, which created a matching state tax credit to the federal New Markets Tax Credit (NMTC).

The Housing Assistance Council, in partnership with The Atlantic Philanthropies announced a new grant program, the Rural Senior Housing (RSH) Fund. Eligible affordable housing organizations are invited to apply for RSH grants to support activities that will build, preserve, or advocate for housing for low-income older adults living in rural areas.

Environmental Data Resources Inc. has launched a new online mapping tool called the Environmental Issues Report (EIR) that shows “environmental issues” within a one-mile radius of an address.

PowerPoint presentations from the Affordable Housing Underwriting Forum & NCAHMA Annual Meeting are now available for download.

HUD’s Economic and Market Analysis Division has prepared Comprehensive Housing Market Analyses for the Burlington-South Burlington, Vermont and Orlando-Kissimmee-Sanford, Florida market areas.

The U.S. Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R), in partnership with the Office of Native American Programs (ONAP), has just launched a new effort to support and increase sustainable construction in Native communities.

Sen. Ben Cardin (D-MD) has introduced S. 1575, the Energy-Efficient Cool Roof Jobs Act. The legislation provides economic incentives to upgrade and modernize commercial roofs by reducing the depreciation schedule for commercial roof retrofits.

The California Supreme Court recent denied the California Redevelopment Association’s (CRA) request for a modified stay that would have allowed redevelopment agencies that agreed to make remittance payments under the alternative redevelopment program to initiate new activities or obligations.