LIHTC

The Ohio Housing Finance Agency has published a draft implementation plan for the new funding programs provided by the American Recovery and Reinvestment Act (ARRA).

The Georgia Department of Community Affairs recently issued a preliminary implementation plan that it will use for allocating housing resources provided by the American Recovery and Reinvestment Act (ARRA).

We are pleased to announce that Mercedes Márquez, General Manager, Los Angeles Housing Department will be delivering the Luncheon Address for the 2009 Spring Developers Forum, May 11-12 at the Hyatt Regency Century Plaza, Los Angeles, California.

Tennessee Housing Development Agency (THDA) Executive Director Ted Fellman recently issued a memo that provides a set of guiding principles that THDA will use to implement the housing tax credit relief provisions contained within the American Recovery and Reinvestment Act (ARRA) as expected guidance is made available by the Treasury and HUD.

The Florida Housing Finance Corporation has scheduled a public hearing on April 8 in Tallahassee to receive comments and suggestions from interested persons relative to the methodology to be used regarding the implementation of the American Recovery and Reinvestment Act.

The Wisconsin Housing and Economic Development Authority on March 27 issued a reminder to prospective applicants for low-income housing tax credits, saying that WHEDA isn’t currently accepting applications for new LIHTC funds authorized by the American Recovery and Reinvestment Act (ARRA), and isn’t accepting applications that identify these funds as a source of financing.

The U.S. Department of Housing and Urban Development (HUD has published a notice soliciting public comments by 5/29/9 regarding a new data collection requirement under the low-income housing tax credit (LIHTC) program.

Donald E. Cardon has been named as the new Director of the Arizona Department of Housing. Prior to his appointment, Cardon served as President and CEO of Cardon Development Group, LLC, a low-income housing tax credit development firm.

The Wisconsin Housing and Economic Development Authority today waived its low-income housing tax credit (LIHTC) program’s July 2009 “start date” rule for 2008 allocations due to tight equity markets that have caused delayed closings and construction starts for many 2008 allocatees.

The Michigan State Housing Development Authority has published a draft implementation plan for the new low-income housing tax credit exchange program and gap financing program (Tax Credit Assistance Program) established by the American Recovery and Reinvestment Act (ARRA).

The California Tax Credit Allocation Committee will hold public hearings on March 24 (Los Angeles), March 25 (Sacrament) and March 26 (Oakland) to discuss proposed amendments to the Low Income Housing Tax Credit Qualified Allocation Plan.

HUD has released the estimated median family incomes (MFIs) and income limits for Fiscal Year (FY) 2009. MFIs are used as the basis for income limits in several HUD programs (including the Public Housing, Housing Choice Voucher, CDBG, and HOME programs), as well as in programs run by the Department of Agriculture, the Department of Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, and Government Sponsored Enterprises.