LIHTC

Kentucky Housing Corporation (KHC) released the Income Averaging Compliance Policy. This policy establishes guidance for KHC partners electing the new average income set aside. The policy is effective for all owners electing income averaging with a placed in-service date of Wednesday, January 1, 2019, or later per their completed 8609 forms. Please contact Phyllis Clem […]

Texas Opens 2020 Nine Percent LIHTC Round
The Texas Department of Housing and Community Affairs (TDHCA) opened the 2020 nine percent LIHTC round. The pre-application is due on Monday, January 13, 2020, at 5:00 pm CT. Pre-application fees must be received by this same deadline. The pre-application is not mandatory; however, applicants that provide a pre-application are eligible for six points in the full Application (assuming all applicable requirements are met).

New Hampshire Housing Finance Authority (NHHFA) will hold a formal public hearing on December 20, 2019 at 10:00 AM. The hearing will be held at our office located at 32 Constitution Drive, Bedford, NH. Upon arrival, please enter at the East Entrance to attend the hearing.

On November 20, 2019 Legislation introduced in the South Carolina Legislature  that would create a state low-income housing tax credit (LIHTC) for properties in opportunity zones. Analysis of the legislation by Novogradac & Company finds that the measure “would create a 25 percent tax credit for investment in the state’s OZs and add OZs to other state incentive programs.

CohnReznick’s Tax Credit Investment Services  team just released its annual report on the performance of properties financed with the Federal LIHTC. The data in this report provide detailed insights into the performance of LIHTC properties and the latest performance trends observed across the surveyed portfolio, consisting of more than 20,000 properties.

Regions Bank announced that Eric Speichinger joined Regions Affordable Housing’s Originations Group as vice president and relationship manager. Speichinger will work out of Regions’ Chicago office and will focus on sourcing and originating affordable housing transactions throughout the Midwest.

The Internal Revenue Service (IRS) released Revenue Procedure 2019-44, which sets state ceilings for nine percent LIHTCs and private activity bonds (PAB). The LIHTC cap is the greater of $2.8125 multiplied by the state population or $3,217,500. The PAB cap is the greater of $105 multiplied by the state population or $321,775,000.

The Arizona Department of Housing will host a LIHTC Application Workshop on January 21, 2020; a HOME Compliance on November 19, 2020; LIHTC Compliance Workshops on February 12-13, 2020 in Phoenix, July 15-16, 2020 in Phoenix and October 21-22, 2020 in Tucson. The 2019 QAP requires that property managers LIHTC projects attend ADOH approved compliance training annually.

The Connecticut Housing Finance Authority (CHFA) is requesting comments on its QAP, LIHTC program, priorities and policy goals through close of business on December 27. Written statements may be submitted to CHFA, 999 West Street, Rocky Hill, CT 06067 to the attention of Terry Nash. Alternatively, written comments may be emailed to Terry Nash at […]

The New Hampshire Housing Finance Authority will hold a public hearing on December 20, 2019 from 10:00 am to noon ET at 32 Constitution Drive, Bedford, NH to receive comments on the draft 2021-2022 QAP. Copies of the draft QAP will be available on the Authority’s website on or about December 6, 2019. Written comments […]

The New Mexico Mortgage Finance Authority will host a LIHTC Fundamentals Training from 8:15 to 11:45 am MT on December 3 at the CNM Workforce Training Center located at 5600 Eagle Rock Ave, NE, Albuquerque, New Mexico. There will also be a 2020 QAP Training from 1:15-5:00 pm MT on the same day, at the same place. This workshop is a requirement for the submission of a LIHTC application

After the recent closing of a $7 million equity investment in a 200-unit affordable housing property located in Vancouver, WA, Candeur Group surpassed $450 million in affordable housing investments. Candeur is an investment banking firm for the affordable housing industry providing financial products to developers for affordable syndication and preservation.