Alabama

NH&RA’s Historic Preservation Development Council is working to extend expiring Tax Incentives for historic rehabilitation projects in the Gulf Opportunity Zone in Louisiana, Mississippi and Alabama. These benefits are currently due to expire at the end of 2009. As a result of our efforts we expect legislation to be introduced shortly that will be co-sponsored by Congressman Artur Davis (D-Ala.) and Congressman Charles Boustany (R-La.).

Alabama Housing Finance Authority (AHFA) will conduct a public hearing concerning the modifications to the 2010 HOME Investment Partnerships Program Action Plan and the Low-Income Housing Tax Credit Allocation Plan for the distribution of HOME funds and Housing Credits in exchange for the new construction and substantial rehabilitation of low-income projects and for the monitoring of HOME funds and Housing Credits for all projects.

The Alabama Housing Finance Agency (AHFA) recently issued a notice of amendment to its allocation plan for the Section 1602 Tax Credit Exchange Program, provided for by the American Recovery and Reinvestment Act.

The U.S. Department of Housing and Urban Development has released new Comprehensive Housing Market Analysis reports for Mobile, Ala.; St. George, Utah; and Grand Junction, Colo.

The U.S. Department of the Treasury on July 10 announced $486 million in American Recovery and Reinvestment Act (ARRA) funding to spur the development of affordable housing units through its Section 1602 Tax Credit Exchange Program.

The Alabama Housing Finance Agency (AHFA) has released additional application forms for its Section 1602 Tax Credit Exchange and Tax Credit Assistance Programs (TCAP).

Senator Evan Bayh (D-Ind.) has proposed legislation that would make $230 million in funding immediately available to begin work on shovel-ready affordable housing developments in flood-ravaged areas of Indiana. The legislation would clarifiy that disaster housing credits in Indiana, Alabama, Arkansas, Illinois, Iowa, Kansas, Louisiana, Michigan, Missouri, Minnesota, Nebraska, Texas and Wisconsin would be eligible for the Tax Credit Exchange Program.

The Alabama Housing Finance Authority has issued a notice of amendment to its low-income housing tax credit program’s 2009 qualified allocation plan (QAP).

NH&RA will continue to update the ARRA resource page below as information is made available.

The Alabama Housing Finance Authority (AHFA) is accepting public comments by May 20 with regards to the proposed allocation plans for the TCAP and Tax Credit Exchange programs under the American Recovery and Reinvestment Act.

The Alabama Housing Finance Authority’s application cycle for 2009 low-income housing tax credits will include a mandatory online portion.

The Alabama Housing Finance Authority has announced the availability on its Web site of the 2009 application package, including instructions and supporting attachments, for the authority’s new funding round for low-income housing tax credits and federal HOME funds.