News

The U.S. Department of Housing and Urban Development has updated the FY 2009 Fair Market Rents to be used for FMRs for New Orleans, LA and Pearl River, MS for the Housing Choice Voucher Program and the Moderate Rehabilitation Single Room Occupancy Program.

The IRS has issued published revised population estimates for the 50 states, the District of Columbia, and certain other jurisdictions to be used to compute their annual volume limits for calendar 2009 for per capital low-income housing tax credits and for tax-exempt private activity bonds.

President Barack Obama has announced his intention to nominate Sandra Henriquez as Assistant Secretary for Public and Indian Housing at the U.S. Department of Housing and Urban Development (HUD).

The Tennessee Housing Development Agency has published its initial application and instructions for the 2009 low-income housing tax credit program.

Grant S. Whitaker has replaced the retiring William Erickson as Chief Executive Officer of Utah Housing Corporation.

The state of Wyoming recently launched a new website that offers the public information about the impact of the American Recovery and Reinvestment Act (ARRA), and specifically how it will affect programs in Wyoming.

NH&RA has signed an industry letter to the Financial Accounting Standards Board (FASB) to issue guidance that will improve the Federal Home Loan Bank Systems ability to deliver resources to affordable housing developments.

n accordance with section 206A of the National Housing Act, HUD has adjusted the basic statutory mortgage limits for multifamily housing programs for calendar year 2009.

Beginning Friday, April 3, 2009 through Friday, April 24, 2009, initial public comments will be accepted on the Arizona Department of Housings First Draft 2009 QAP. The proposed 2009 QAP is predominantly the same as the 2008 QAP as modified by the additional underwriting requirements described in the 2008 Resubmittal Allocation Round Notice with several notable changes.

The 2009 HOME rent and income limits have been published and are effective April 27, 2009.

California Tax Credit Allocation Committee has issued a memo regarding its single 2009 funding round for 9% tax credits. CTCAC staff has proposed a regulatory scheme that would allow competitive Credit Ceiling (9%) reservation recipients 45 days following preliminary reservation to obtain an equity partner Letter of Intent. If applicants were unsuccessful in obtaining an equity partner, they could return their 9% credits and compete for cash in lieu of credits.

Montana Board of Housing will hold its QAP Input and Exchange Session for the 2010 QAP on May 20 & 21, 2009 in Great Falls.