LIHTC

The Michigan State Housing Development Authority has made several announcements pertaining to affordable housing developers.

The South Carolina State Housing Development & Housing Authority has released the final implementation plan and funding application for its low-income housing tax credit (LIHTC) Exchange program, created by the American Recovery and Reinvestment Act of 2009.

The Missouri Housing Development Commission has released its 2009 Gap Funding Round Submission Documents and Guidelines for awardees.

Arizona Governor Jan Brewer has named Michael Trailor as Director of the Arizona Department of Housing.

Milroy Alexander, Executive Director of the Colorado Housing and Finance Authority (CHFA), announced his retirement, effective in November.

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.

In April of this year, the California Tax Credit Allocation Committee (TCAC) announced it would conduct a single competitive funding round for 9% and 4%-plus-state credit applications. In order to accommodate applicants who had planned to apply for second round consideration, TCAC regulations were adopted allowing applicants to provide specified information by August 17, 2009.

Thanks to everyone that made the 2009 Summer Institute a great success! We were blown away by all of the compliments about the quality of the program and networking. I especially want to thank all the great speakers! Its not every day that so many industry leaders and innovators can come together to share ideas and innovations. In such a tough business environment it was inspirational to see how our members are creating new opportunities to close transactions. If you didn’t make out to Vermont here are a few things that you missed…

The U.S. Treasury Department recently announced over $90 million in funding awards to five states through the Section 1602 Exchange Program created by the American Recovery and Reinvestment Act (ARRA).

U.S. Housing and Urban Development Secretary Shaun Donovan recently announced that HUD will approve the final round of funding applications submitted by state housing finance agencies for funds provided by the Tax Credit Assistance Program (TCAP), through the American Recovery and Reinvestment Act (ARRA).

The U.S. Department of Housing and Urban Development recently released updated guidance for the Tax Credit Assistance Program (TCAP), provided by the American Recovery and Reinvestment Act of 2009.

The U.S. Department of Housing and Urban Development (HUD) on July 29 issued new guidance to further clarify and ease the use of FHA multifamily mortgage insurance for projects that utilize low-income housing tax credits or tax-exempt financing.