Kentucky

The Kentucky Housing Corporation (KHC) has revised the 2013 Rental Guidelines to include information for its upcoming Non-Housing Credit application round. This round of applications will be for the HOME Investment Partnerships program, the Affordable Housing Trust Fund, the Small Multifamily Affordable Loan program, and a new set-aside for the Affordable Housing Trust Fund for transitional housing projects.

HUD’s Economic and Market Analysis Division regularly publishes Comprehensive Housing Market Analysis reports for regions across the country.

The Kentucky Housing Corporation (KHC) has announced it will accept applications for Project-Based Section 8 Housing Choice Vouchers on Monday, June 25, 2012.

In response to the recent severe storms and tornadoes that touched down in March in Kentucky, the Kentucky Housing Corporation (KHC) has extended the application due date for the 2013 Low Income Housing Tax Credit funding round to allow developers additional time to submit applications to address the housing needs in the affected areas.

In accordance with IRS Revenue Procedure 2007-54, the Indiana Housing and Community Development Authority (IHCDA) and the Kentucky Housing Corporation (KHC) have permitted owners of Section 42 LIHTC properties to provide temporary emergency housing to individuals affected by the recent floods and tornadoes.

The Kentucky Housing Corporation (KHC) has issued guidance to housing partners regarding housing issues and increased needs as a result of the recent storms that affected the state. More specifically, KHC is informing multifamily project owners that most damage-related replacement costs are eligible for reimbursement from Reserve for Replacement (R4R) accounts.

The Kentucky Housing Corporation (KHC) has released a revised draft of the 2012 Qualified Allocation Plan (QAP). In the revised draft, KHC has indicated that 60 percent of 2013 LIHTCs will be forward committed to projects that applied in the October 3, 2011, round.

Kentucky Housing Corporation (KHC) announced that it will host a Multifamily Developers’ Forum/Public Hearing on the 2013 Qualified Allocation Plan (QAP) on Monday, December 5, 2011 at the Frankfort Public Library. KHC will post a draft of the 2013 QAP on the Multifamily Finance Department Web page prior to Wednesday November 23, 2011.

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.

On June 15 Senators Richard Shelby (R-Ala.) has introduced legislation to provide relief to states that suffered damage by the series of tornadoes and flooding that have struck the south east.

Kentucky Housing Corporation (KHC) will hold a Public Hearing on the proposed state plan for the program year 2011 Weatherization Assistance Program (WAP) Formula Grant for Low Income Persons, Title IV, Part A, Public Law 94-385, and on an amendment to the 2009-2012 American Recovery and Reinvestment Act (ARRA) WAP.

Kentucky Housing Corporation (KHC) has developed an underwriting model review checklist to assist developers with completing the underwriting model and to minimize errors.