LIHTC

The Indiana Housing & Development Authority has released its 2011 QAP and has scheduled a QAP Forum in Indianapolis on September 16.

HUD’s Federal Housing Administration has issued regulations for its multifamily mortgage insurance program relating to a provision in Title VIII of the Housing and Economic Recovery Act of 2008 that prohibits a requirement that tax credit sales proceeds be placed into escrow, at the time of initial endorsement, for assurance of project completion and to pay the initial service charge, carrying charges, and legal and organizational expenses incident to the construction of the project.

The Utah Housing Corporation has released its 2011 draft qualified allocation plan (QAP).

HUD has issued a new mortgagee letter (2010-26) and Housing Notice (2010-16) to all FHA-Approved Multifamily Mortgagees issuing further policy guidance to defer submission of final architectural plans and specifications introduced by Mortgagee Letter 2008-19, 19), titled “Streamlined Processing of Multifamily Mortgage Insurance Applications Involving Low Income Housing Tax Credits (LIHTC).”

The Indiana Housing & Community Development Authority has released its 2011 qualified allocation plan.

The Maryland Department of Housing and Community Development (DHCD) has begun the process of revising the 2011 qualified allocation plan (QAP), and has released its draft 2011 Multifamily Rental Financing Program Guide. Proposed revisions to the 2011 QAP will be released by the end of August.

The Connecticut Housing Finance Authority (CHFA) Board of Directors recently approved the Authority’s Very Low-Income Construction Employment Policy and incorporated the policy into the 2011 Low-Income Housing Tax Credit Draft Qualified Allocation Plan (QAP).

The Wyoming Community Development Authority (WCDA) has released its draft version of the state’s 2011 qualified allocation plan (QAP).

The Virginia Housing Development Authority (VHDA) has released a blacklined version of its draft 2011 qualified allocation plan (QAP),

The Louisiana Housing Finance Authority previously announced a strategy to allocate the remaining TCAP funds for increases in costs for existing LIHTC projects.

NH&RA is please to offer TEN digital audio recordings of select panel sessions from its recent 2010 Summer Institute & Pre-Conference Symposium on New Markets Tax Credits!

The California Tax Credit Allocation Committee (CTCAC) is preparing forms for the 30 percent test to be utilized by owners of projects that have received an award of Section 1602 funds, and that the forms will be available on September 1.