LIHTC

The California Tax Credit Allocation Committee (CTCAC) has released a final list of its proposed substantive changes to the 2013 tax credit program regulations. CTCAC initially released its list of 23 proposed changes on October 24, 2012. After holding four public hearings and collecting public comments, CTCAC plans to proceed with nine of the originally proposed changes and amend 14 of its original proposed changes.

The Texas Department of Housing & Community Affairs has released several updates for its multifamily housing programs.

HUD recently released a HOME Investment Partnership (HOME) Program and Low-Income Housing Tax Credit (LIHTC) guidebook which provides technical guidance to HOME Participating Jurisdictions (PJs) on projects that combine HOME Program funds with LIHTCs.

The Internal Revenue Service (IRS) has released it latest LIHC Newsletter, which provides a forum for networking and sharing information about Section 42, the Low-Income Housing Tax Credit, and communicating technical knowledge and skills, guidance, and assistance for developing LIHTC issues.

NH&RA member firm, CohnReznick LLP recently released a study which examined the operating performance of low-income housing tax credit properties. The report, entitled “The Low-Income Housing Tax Credit Program at Year 25: An Expanded Look at Its Performance”, finds a striking imbalance between the supply and demand of affordable rental housing and confirms the critical shortage that currently exists for affordable housing.

HUD recently released a notice in the Federal Register requesting public comment on the form related to LIHTC tenant information collection.

A new report from the Poverty & Race Research Action Council (PRRAC) entitled “Accessing Opportunity: Affirmative Marketing and Tenant Selection in the LIHTC and Other Housing Programs” examines the accessibility of affordable housing properties for low-income and minority tenants.

The Arizona Department of Housing (ADOH) has released its 2013 Low Income Housing Tax Credit (LIHTC) Application Materials and Exhibits supporting the 2013 Qualified Allocation Plan (QAP).

The Georgia Department of Community Affairs (DCA) has released a final version of its 2013 Qualified Allocation Plan for the allocation of federal and state Low-Income Housing Tax Credits as well as HOME funds.

The Ohio Housing Finance Agency has released its 2013 Affordable Housing Funding Application (AHFA) and supporting materials for applicants of the Low-Income Housing Tax Credit (LIHTC) program, Housing Development Assistance program and the Housing Development Loan program.

Oregon Housing and Community Services (OHCS) released a status update on the Consolidated Funding Cycle (CFC) redesign process. The redesigned CFC is meant to be more efficient and effective process for allocating multi-family housing resources, including the Low-Income Housing Tax Credit and HOME funds.

NH&RA was pleased to welcome over 200 industry professionals to our 2012 Fall Developers Forum. All conference materials including Power Point presentations, reports, memos and articles from the conference are available for download.