LIHTC

The California Tax Credit Allocation Committee will host 13 LIHTC compliance monitoring workshops across the state in 2013. Five workshops will be focused on Advance Compliance issues, five workshops focused on Basic Compliance issues, and 3 Intensive Workshops that combine elements from both the Basic and Advanced workshops.

The Public and Affordable Housing Research Corporation (PAHRC) and the National Low Income Housing Coalition (NLIHC) recently released the National Housing Preservation Database, which was created in an effort to provide communities with the information they need to effectively preserve their stock of public and affordable housing.

The Virginia Housing Development Authority (VHDA) released an update for potential applicants regarding reservation applications to the Low Income Housing Tax Credit (LIHTC) program.

The Texas Department of Housing and Community Affairs (TDHCA) has posted final versions of the 2013 Housing Tax Credit Program Qualified Allocation Plan (QAP) and 2013 Uniform Multifamily Rules, as approved by the Governor and the Texas Register. TDHCA has also posted a list of frequently asked questions on its website related to the competitive (9%) housing tax credit program.

In response to the American Taxpayer Relief Act of 2012, the Kentucky Housing Corporation (KHC) is modifying the closing extension policy of the 2013 Qualified Allocation Plan (QAP).

In response to the, H.R. 8, American Taxpayer Relief Act of 2013, the Arizona Department of Housing (ADOH) requested approval from Governor Brewer for adjustments to the 2013 Qualified Allocation Plan. The proposed changes include extending the application deadline by two months from March 1, 2013 to May 1, 2013.

Missouri State Senator Will Krause (R-Jefferson City) recently introduced SB 163, which reauthorizes certain tax credits, prohibits further authorization of certain tax credits, and modifies state historic preservation tax credit (HPTC) and low-income housing tax credits (LIHTCs).

Smart Growth America recently published a report entitled “Federal Involvement in Real Estate: A call for examination”, to look at the effectiveness of various federal real estate investment programs and determine how well these programs influence development.

Oregon Housing and Community Services (OHCS) recently published an update on its multifamily funding redesign project in conjunction with its January 11 State Housing Council meeting.

The California Tax Credit Allocation Committee (CTCAC) released two reminders to previous tax credit recipients. All 2011 low-income tax credits recipients of 9% competitive credits must submit documentation to demonstrate the progress of the project and its continuing feasibility in order to meet the Final Reservation criteria.

Following the passage of The American Taxpayer Relief Act and the resulting extension of the 9 percent credit rate to allocations made before January 1, 2014, the Ohio Housing Finance Agency has announced that low-income housing tax credit applicants may use the 9% credit rate in its estimations for their 2013 housing tax credit amount. OHFA also announced the gap financing resources that will be available to applicants in 2013

The Virginia Housing Development Authority has made corrections to its 2013 Low-Income Housing Tax Credit (LIHTC) Reservation Application and updated its Rural Development Priority list.