News

Members of the U.S. House of Representatives’ Financial Services Committee convened for a public hearing on June 25 to discuss issues and receive testimony from HUD Secretary Shaun Donovan related to proposed legislative options for preserving federally- and state-assisted affordable housing and preventing displacement of low-income, elderly and disabled tenants.

Leaders of the House Ways and Means Subcommittee on Select Revenue Measures and the House Financial Services Subcommittee on Domestic Monetary Policy and Technology held a joint hearing yesterday to receive testimony from key government officials and industry leaders with regards to a recent report published by the Government Accountability Office (GAO), which states that minority-based Community Development Entities (CDE) are less likely to be successful in obtaining funding allocations under the New Markets Tax Credit Program.

Leaders of the U.S. Department of Housing and Urban Development, Department of Transportation and Environmental Protection Agency collectively announced a joint Partnership for Sustainable Communities to help improve access to affordable housing, create more transportation options, and lower transportation costs while also improving the energy efficiency of communities nationwide.

On Wednesday, July 15 the U.S. House of Representatives’ Committee on Financial Services held a hearing to discuss legislative options for preserving federally- and state-assisted affordable housing and preventing displacement of low-income, elderly and disabled tenants. During the hearing, Committee heard testimony from a panel of witnesses.

Wisconsin Governor Jim Doyle has announced that funds from the American Recovery and Reinvestment Act will be used for a new program to weatherize large, multifamily buildings. The new program aims to weatherize approximately 3,000 units in apartment buildings across the state over the next two years, reducing energy use and creating jobs.

The Ohio Housing Finance Agency has released a marked up version of its draft 2010 qualified allocation plan for administering the low-income housing tax credit (LIHTC) program.

The U.S. Department of Treasury has released an update on the Build America Bonds program, including state-by-state data. The Build America Bonds program is a new financing tool created by the American Recovery and Reinvestment Act to allow state and local governments to obtain much-needed funding to support economic and community development projects.

The U.S. Department of Housing and Urban Development has released new guidance and documents for the Tax Credit Assistance Program, which will provide federal funds through state housing credit agencies to stalled low-income housing tax credit projects to move them forward.

New York State Assembly member Sam Hoyt and Senator David Valesky (Dem.) announced on July 17, 2009 that the New York State Legislature passed legislation (A.9023/S.6056) to create an expanded historic preservation tax credit program that will offer opportunities for economic development and job creation while utilizing existing infrastructure.

The Nebraska Investment Finance Authority has released its application for funding through the Section 1602 Tax Credit Exchange and Tax Credit Assistance Programs, provided by the Recovery Act (ARRA).

The Washington Housing Finance Commission’s Capital Projects Division has proposed two changes to its 2010 Multifamily Housing Evaluation Policy, which describes the process and criteria that it uses to evaluate and rank projects for allocation of the Commission’s multifamily portion of the Private Activity Bond Issuance Authority.

The Wyoming Community Development Authority has released its draft 2010 qualified allocation plan with respect to the low-income housing tax credit (LIHTC) program.