Florida

Florida Governor Rick Scott recently signed H.B. 7087 into law which increases the amount of credits available under the state’s New Markets Development Program (NMDP).

The Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2012-8 which will extend the deadline for consideration of Community Reinvestment Act (CRA) activities in areas that were affected by hurricanes Rita and Katrina.

The Federal Housing Finance Agency (FHFA) recently announced the next step in its Real Estate-Owned (REO) Initiative, targeted to hardest-hit metropolitan areas “” Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.

Introduced in late-December 2011 and passed by the Business and Consumer Affairs Subcommittee in early January, Florida House Bill 1119 increases the total amount of tax credits available to be allocated for the New Markets Development Program from $97.5 million to $195 million.

The Internal Revenue Service (IRS) published Revenue Service 2011-57 which dictates the amounts of unused housing credit carryover allowances allocated to qualified states. Nearly $3.66 million of unused credits were divided among the states in the National Pool.

HUD’s Economic and Market Analysis Division has prepared Comprehensive Housing Market Analyses for the Burlington-South Burlington, Vermont and Orlando-Kissimmee-Sanford, Florida market areas.

In response to a recent White House discussion meeting which called for bold action to tackle the nation’s ongoing housing troubles, Rep. Kathy Castor (D-FL) has sent a letter to President Obama proposing a number of recommendations that would significantly impact the development of affordable rental housing.

The U.S. Department of Housing and Urban Development (HUD) today released revised fiscal year (FY) 2011 income limits for certain areas.

A proposal that would permanently divert at least $194 million annually in real estate-related taxes from Florida’s affordable housing program to general state spending won approval Friday from the Senate Budget Committee.

Florida Housing Finance Corporation (FHFC) recently released a draft white paper that examines the jobs created by the construction and/or preservation of low-income housing tax credit (LIHTC) developments.

The Florida Housing Finance Corporation has launched a Green Building homepage to provide information and resources on green building to the affordable housing development community.

Florida Governor Charlie Crist recently singed into law a bill that makes a number of modifications to Florida’s New Markets Development Program (NMDP), a state-level companion program to the federal NMTC program that provides state tax credits for low-income community investments.