LIHTC

The Montana Board of Housing has scheduled a QAP information input and update session for May 10-11, 2011 in Livingston.

Kentucky Housing Corporation (KHC) has developed an underwriting model review checklist to assist developers with completing the underwriting model and to minimize errors.

On January 25, Senator Mary Landrieu (D-La.) introduced a bill (S. 30) to extend by one year the placed-in-service date for low-income housing tax credit rules applicable to Gulf Opportunity (GO) Zone properties.

The Arizona Department of Housing recently released its final utility allowance guidelines for low-income housing tax credit (LIHTC) properties.

New York Gov. Andrew Cuomo recently revealed his 2011-2012 Executive Budget proposal that includes approximately $308 million for the Division of Housing and Community Renewal, a figure that represents a nearly $157 million reduction from last year’s budget.

The Ohio Housing Finance Agency has announced that it will host a roundtable discussion with a selection of housing partners that will explore goals and priorities for the agency’s 2012 low-income housing tax credit program.

The Virginia Housing Development Authority has issued a reservation application update for 2011 LIHTCs. The update addresses the locality notification information summary, an additional EarthCraft Multifamily Training Session (February 25), Universal Design training (February 17), and several minor corrections to the 2011 application.

The U.S. Department of Housing and Urban Development has commissioned a study to assess the LIHTC program after 15 years to determine whether projects that reach the 15-year mark are remaining affordable, what types of properties are or are not remaining affordable, as well as major factors that contribute to these outcomes.

The Arkansas Development Finance Authority has extended its 2011 low-income housing tax credit program application deadline by one month until March 4, 2011.

The Alabama Housing Finance Authority will hold a 2011 LIHTC and HOME application workshop on February 14 in Montgomery, AL.

The U.S. Senate today passed the $858 billion legislative tax package by a 81 to 19 vote. Senate Majority Leader Harry Reid (D-Nev.) this week introduced the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, a bill to extend the “Bush Tax Cuts,” as well as a number of tax credit programs that were modified by the American Recovery and Reinvestment Act (ARRA).

NH&RA’s Council for Energy Friendly Affordable Housing recently authored a new white paper suggesting way to improve how utility allowances are calculated for energy efficient LIHTC and HUD-assisted multifamily housing.