News

Members of NCAHMA’s Standards Committee convened for an in-person meeting on November 10, 2009 at the Doubletree Hotel Magnificent Mile in Chicago in conjunction with the 2009 Affordable Housing Underwriting Forum & Annual Meeting.

HUD has published the 2010 Operating Cost Adjustment Factors (OCAF).

On behalf of Enterprise Community Partners, Inc. and Local Initiatives Support Corporation (LISC), the accounting firm Ernst & Young (E&Y) has conducted a major survey entitled “Low-Income Housing Tax Credit Investment Survey” to provide an understanding of the current market environment for the LIHTC as well as investor motivations and investor responses to potential legislative enhancements to the LIHTC Program.

The Hawaii Public Housing Authority is considering a proposal that would effectively dismantle the state’s oversight of public housing.

National Council of Affordable Housing Market Analysts (NCAHMA) has made available the PowerPoint slides presented during its recent 2009 Affordable Housing Underwriting Forum & Annual Meeting, held November 9-10, 2009 at the Doubletree Hotel Magnificent Mile in Chicago, IL.

The U.S. Department of Housing and Urban Development has released the operating cost adjustment factors (OCAF) for 2010. OCAFs are used to calculate or adjust renewed rents for projects insured by FHA under Section 221(d)(3) and Section 236.

U.S. Senators Roger Wicker and Thad Cochran of Mississippi recently introduced legislation that would extend the Gulf Opportunity Zone (GO Zone) bonus tax credit, which has been an integral tool in attracting investment to the Gulf Coast after the devastation caused by Hurricane Katrina in 2005.

The Internal Revenue Service (IRS) recently announced in Revenue Procedure 2009-50 the inflation-adjusted low-income housing tax credit (LIHTC) and private activity bond caps for 2010.

The Community Development Financial Institutions (CDFI) Fund recently announced approximately $5 billion in funding to 90 organizations through the New Markets Tax Credit (NMTC) Program, including approximately $1.5 billion provided through the American Recovery and Reinvestment Act (ARRA).

The Federal Reserve Board recently released a collection of articles from LIHTC practitioners and experts that focuses on possible opportunities to strengthen the Low Income Housing Tax Credit (LIHTC) program.

The US Treasury Department has denied a request from Fannie Mae to transfer nearly $3 billion of the equity interests in its low-income housing tax credit (LIHTC) investments to third-party investors Goldman Sachs Group Inc. and Berkshire Hathaway Inc.

The Arizona Department of Housing recently released the first draft of its 2010 qualified allocation plan (QAP), used to administer the federal low-income housing tax credit program through ADOH. A number of significant changes are proposed for the 2010 draft.