News

On June 15 Senators Richard Shelby (R-Ala.) has introduced legislation to provide relief to states that suffered damage by the series of tornadoes and flooding that have struck the south east.

The IRS has issued an administrative notice (Notice 2011-47) that suspends certain requirements under section 42 of the Internal Revenue Code for certain low-income housing credit properties in the United States as a result of the devastation caused by severe storms, tornadoes, and flooding in Missouri beginning on April 19, 2011.

Rhode Island lawmakers are considering a bill (H 6098) that would reinstate the state’s historic preservation tax credit, after it was eliminated in 2008.

We are pleased to announce that online registration and hotel reservations are now open for the National Council of Affordable Housing Market Analysts Affordable Housing Underwriting Conference & Annual Meeting.

The House Appropriations Subcommittee on Financial Services and General Government announced a FY-2012 spending bill this week that includes $183 million for the CDFI Fund, with $12 million set aside for the Native American CDFI initiative and $22.9 million set aside for administration.

U.S. Representative Bill Owens (D-NY) has introduced a new bill (H.R. 2097) that would allow military service members to exclude basic allowance for housing (BAH) from their income when applying for low-income housing tax credit (LIHTC) housing.

Deputy Secretary of the U.S. Department of Housing and Urban Development Ron Sims recently announced that he will retire from public service and return to his home & family in Seattle, WA.

An new report by The Real Estate Roundtable, the U.S. Green Building Council and the Natural Resources Defense Council finds that the Obama Administration’s Better Building Initiative would create more than 114,000 private-sector jobs, 77,000 of which would be in the construction industry.

The Ohio Housing Finance Agency (OHFA) has announced that more time is needed to consider proposed changes to the QAP’s underwriting standards, as well as other proposed changes.

The California Tax Credit Allocation Committee (TCAC) maintains an operating cost database to help derive operating cost averages for its portfolio of low-income housing tax credit projects.

New York Governor Andrew M. Cuomo last week hosted a reception and swearing in ceremony for Darryl C. Towns, Commissioner/CEO of New York State Homes and Community Renewal (HCR).

Minnesota’s Housing Finance Agency (MHFA) has released a report entitled, “Environmental Scan: Demographic, Economic and Market Factors Impacting Housing.”