LIHTC

The California Housing Partnership annually assesses the historical loss and conversion risk of federally- and state-subsidized affordable rental properties. Its 2019 analysis found that between 1997 and 2018, California lost 15,044 affordable rental homes, one in four of which were financed with LIHTCs, and another 34,554 affordable rental homes are at risk of conversion.

HUD announced the expansion a Federal Housing Administration (FHA) pilot program that streamlines FHA mortgage insurance applications for affordable housing developments that have equity from the sale of LIHTC Program to also include Section 221(d)(4) and Section 220 loan products.

The Virginia Housing Development Authority (VHDA) has tentatively scheduled three more tax-exempt rental housing bond issues for 2019: March 1, June 1 and Aug. 1.

San Jose Mayor Sam Liccarddo announced that the city will devote nearly $100 million to 11 projects across the city over the next several years. The 11 projects are expected to provide 1,144 apartments to formerly homeless residents, low-income seniors and other vulnerable groups.

The Ohio Housing Finance Agency (OHFA) sent notice that the maximum Housing Development Loan (HDL) for 9 percent tax credit projects will be $1.25 million and $1.75 million for Permanent Supportive Housing Projects. OHFA does not anticipate having any HDL funding remaining for 4 percent tax credit projects in 2019.

The Virginia Housing Development Authority (VHDA) announced that income averaging is permitted for all newly funded VHDA developments. Projects already approved for funding, where part II of the 8609 form has not been completed will be reviewed on a case-by-case basis.

The Kentucky Housing Corporation (KHC) announced the awards for the 2019 LIHTC application round. KHC received 30 applications requesting more than $21 million in LIHTC and was able to fund 19 projects with $13,747,583 of 2019 LIHTC in conjunction with $2,140,000 from the HOME Investment Partnerships Program and $1,500,000 from KHC’s Affordable Housing Trust Fund (AHTF).

The Florida Housing Finance Corporation will hold a Rule Development Workshop on Feb. 27 at 2 pm ET to discuss proposed changes to Rule Chapters 67-21 and 67-48 of the Florida Administration Code. Chapter 67-21 governs non-competitive affordable multifamily rental housing programs including the Multifamily Mortgage Revenue Bonds Program and 4 percent LIHTC. Chapter 67-48 governs competitive affordable multifamily rental housing programs including the State Apartment Incentive Loan Program, the Elderly Housing Community Loan Program, the HOME Investment Partnerships Program and 9 percent LIHTC.

The National Low Income Housing Coalition (NLIHC) released Opportunities to End Homelessness and Housing Poverty in the 116th Congress, a memo to incoming members of Congress on steps to address the lack of decent, accessible and affordable housing. The report calls on members of Congress to:

MassHousing has closed on $14 million in financing to Beacon Communities LLC for the rehabilitation and preservation of affordability at the 72-unit Camden Apartments in Boston, MA.

MassHousing provided Beacon Communities with a $5.9 million tax-exempt construction and permanent loan and an $8.1 million tax-exempt bridge loan. The MassHousing financing also generated $6.8 million in Low-Income Housing Tax Credit equity for the project.

Join the Colorado Housing and Finance Authority (CHFA) and Novogradac and Co. on Feb. 14 from 9 am to 4 pm MT for a daylong intensive on Understanding Federal Tax Credits. Stephanie Naquin with  Novogradac & Co. will present an overview of the federal Low Income Housing Tax Credit (LIHTC) program and touch on new […]

The California Tax Credit Allocation Committee released the 9% competitive and 4% competitive Excel applications. For general application questions contact the appropriate regional analyst:  http://www.treasurer.ca.gov/ctcac/assignments.asp For technical questions or issues related to the Excel application please contact Diane SooHoo at:  diane.soohoo@treasurer.ca.gov