LIHTC

The Virginia Housing Development Authority (VHDA) is seeking submissions from individuals who wish to be included on its Experienced LIHTC Developer list. This list is used during the LIHTC application review process to help determine point allocations in the Developer Experience category.

The Texas Department of Housing & Community Affairs has released its final version of its 2013 Qualified Allocation Plan (QAP) and Uniform Multifamily Rules as approved by the Governor.

The North Carolina Housing Finance Agency has published the final version of its 2013 Qualified Allocation Plan (QAP) for the allocation of federal Low-Income Housing Tax Credits (LIHTCs).

The Maryland Department of Housing & Community Development (MDHCD) released a notice to provide a status update on the revision process for its 2013 Qualified Allocation Plan and Guide.

The Government Accountability Office (GAO) recently released a report entitled “Low-Income Housing Tax Credits: Agencies Implemented Changes Enacted in 2008, but Project Data Collection Could Be Improved” which examines the implementation of changes to the Low-Income Housing Tax Credit (LIHTC) program which occurred under the Housing and Economic Recovery Act (HERA) of 2008.

The Delaware State Housing Authority has released draft versions of its 2013 Qualified Allocation Plan (QAP), cover sheet, and attachments. The draft contains several changes from the 2012 QAP.

The Nebraska Investment Finance Authority (NIFA) has released its final version of the state’s 2013 Qualified Allocation Plan (QAP) for the purpose of allocating federal Low Income Housing Tax Credits (LIHTCs).

HUD recently issued an updated draft Low-Income Housing Tax Credit (LIHTC) Pilot Program Application Processing Guide. This informal guide is meant for lenders and HUD staff to use while underwriting loans for the Pilot Program, which aims to streamline FHA processing of mortgage insurance applications for projects with LIHTC equity.

The Bankruptcy Appellate Panel (BAP) for the Sixth Circuit Federal Court of Appeals recently decided a case involving five Kentucky limited partnerships (the Debtors) which were placed in a jointly-administered Chapter 11 case. In the appeal, the debtors took issue with including the value of LIHTCs in the bank’s appraised value of the real property.

The Internal Revenue Service (IRS) has announced that government entity issuers of tax-exempt bonds affected by Hurricane Sandy may qualify for additional time to file Form 8038 or Form 8038-T returns.

The Texas Department of Housing and Community Affairs (TDHCA) has a released a draft version of its 2013 Multifamily Uniform application on its website. The Multifamily Uniform application will be used for the following multifamily housing programs: Housing Tax Credits, Tax Exempt Bonds, HOME Investment Partnership Program, and the Neighborhood Stabilization Program.

The Arizona Department of Housing will be holding the 2013 LIHTC application workshop on January 23, 2013 from 9:00am to 2:00pm. All developers, or designated members from the development team, who plan to apply in the 2013 round must attend this training.