News

The Community Development Financial Institutions (CDFI) Fund has announced the opening of the 2011 New Markets Tax Credit funding round.

The IRS has issued a notice of proposed rulemaking and an advance notice of rulemaking for the federal new markets tax credit program, proposing some changes to the program’s rules and soliciting public comments on these and on a series of questions.

Two years of hearing “no” from prospective equity providers would be enough to make most people and organizations give up on a project. But for Joe Heaphy and the Detroit nonprofit he works for, the rejections almost became a personal challenge.

Larry Curtis, the mustachioed president and managing partner of WinnDevelopment, likens the role of a developer to a musical conductor. “What I like about being a developer is you get to invent deals. You’re the orchestra leader that doesn’t necessarily know how to play all the instruments…”

The Historic Tax Credit Coalition and Rutgers University recently released an annual study on the economic impact of the federal historic tax credit (HTC).

HUD’s Federal Housing Administration (FHA) and Fannie Mae recently announced a joint venture to allow owners of existing affordable rental housing properties to refinance into new mortgages that include funding for energy- and water-saving upgrades, along with other needed property renovations.

NH&RA is pleased to offer the PowerPoint presentations given during the recent 2011 Spring Developers Forum, May 23-24 in Dana Point, CA.

The U.S. Department of Housing and Urban Development has released the new area median income limits for Fiscal Year 2011.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has announced the release of the notice of allocation availability (NOAA) for the 2011 round of competition for $3.5 billion in tax credits under the New Markets Tax Credit (NMTC) Program.

The Washington State Housing Finance Commission recently released a draft of its proposed changes to the 2012 tax credit program policies.

The Minnesota Housing Finance Agency recently published the state’s FY 2012-2013 housing budget proposal summary.

Maryland Department of Housing and Community Development (DHCD) Secretary Raymond A. Skinner announced today the department’s Be SMART (Save Money and Resources Today) initiative, which is primarily a loan program to finance energy efficiency improvements to homes, businesses and multifamily buildings in more than a dozen targeted communities around the state. The $20 million in funding comes from the BetterBuildings program of the U.S. Department of Energy.