LIHTC

The National Low Income Housing Coalition and Public and Affordable Housing Research Corporation released an updated version of the National Housing Preservation Database for 2019. The database includes updated data on Section 515, Section 8, HOME, REAC and Section 202 direct loan usage across the country. In addition, LIHTC properties now have end dates to track […]

The Idaho Housing and Finance Association will be accepting applications for LIHTC/HOME through a newly designed portal system, Procorem, effective August 2, 2019. 

On June 4, Senators Maria Cantwell (D-WA), Johnny Isakson (R-GA), Ron Wyden (D-OR) and Todd Young (R-IN) introduced The Affordable Housing Credit Improvement Act of 2019 (S. 1703) while Representatives Suzan DelBene (D-WA), Don Beyer (D-VA), Kenny Marchant (R-TX) and Jacky Walorski (R-IN) introduced companion legislation H.R. 3077 in the US House of Representatives. The ACTION Campaign is submitting a letter to Congress demonstrating the strong support for the Affordable Housing Credit Improvement Act. The deadline to sign-on to the letter is Tuesday, June 11.

RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-29 with total tax credit equity of $116,012,401. The Fund consists of $110.4 million of LIHTC equity and $5.6 million of Georgia State LIHTC equity.

The Alaska Housing Finance Corporation (AHFC) is soliciting comments to the draft allocation plan for the FY 2020 Greater Opportunities for Affordable Living (GOAL) Program and QAP.  These documents govern the allocation of four funding sources: the Low Income Housing Tax Credit; the HOME Investment Partnership Act; the National Housing Trust Fund; and the Senior Citizens Housing Development Fund.

The ACTION Campaign released updated national and state factsheets that show the impact of the LIHTC in all 50 states and the District of Columbia. In addition to the regular information on homes developed or preserved, jobs supported and the need for affordable housing, this year’s factsheets also include estimates on how many homes could be built with a 50 percent LIHTC increase.

The Ohio Housing Finance Agency (OHFA) will hold several training sessions on Compliance Policies and Regulation.

Preliminary Application Reminder — Deadline June 3
Apricot Online Training — May 16
New and Improved Financing Application 
2021-2022 Qualified Allocation Plan Public Forum — June 6

Novogradac updated its Rent & Income Limit Calculator© with HUD’s FY 2019 rent and income limit data. Using the HUD-published data, the Novogradac Rent & Income Limit Calculator© will calculate low-income housing tax credit (LIHTC) rent and income limits for every county and every metropolitan statistical area in the US.

The National Council of State Housing Agencies (NCSHA) sent a letter to the Internal Revenue Service urging it to rescind its recent amendments to the LIHTC compliance monitoring regulations.

The Virginia Housing Development Agency (VHDA) released the preliminary ranking of the 2019 LIHTC applicants.

The National Council of State Housing Agencies sent a letter to the Department of the Treasury and IRS urging them to expedite guidance to HUD on how it should establish income limits for the 20, 30, 40, 70, and 80 percent of area median income (AMI) levels necessary for Housing Credit projects that elect to use the average income test for their minimum set-asides.