Massachusetts

The Massachusetts Department of Housing and Community Development (DHCD) has amended its Tax Credit Exchange Program guidelines, effective September 25, 2009.

NH&RA is pleased to announce that it has extended its early registration for the 2009 Fall Developers Forum, November 2-3, 2009 at the Taj Hotel in Boston. Register by Wednesday, September 30 and save $100 off your conference registration fee.

The U.S. Department of the Treasury on July 10 announced $486 million in American Recovery and Reinvestment Act (ARRA) funding to spur the development of affordable housing units through its Section 1602 Tax Credit Exchange Program.

The Massachusetts State Senate Post Audit and Oversight Committee recently concluded an investigation and published a report that calls for greater transparency and accountability under the state’s Chapter 40B affordable housing law, which allows developers to override local zoning laws limiting the number of units able to be built, so long as they agree to set aside a portion of affordable units, limit their profits, and return excess earnings to the municipality.

The Massachusetts Department of Housing and Community Development last week published draft guidelines for implementation of its low-income housing tax credit assistance (TCAP) program.

NH&RA will continue to update the ARRA resource page below as information is made available.

Boston Mayor Thomas Menino on March 3 unveiled his third, three-year strategy for producing and preservation additional housing in the city of Boston during 2009-2012, including affordable units.

Metropolitan reports (in PDF format) from the 2007 American Housing Survey are available for download at the U.S. Census Bureau’s Web site.

The Massachusetts Department of Housing and Community Development has announced it will hold a public hearing on proposed changes to its qualified allocation plan for its 2009 low-income housing tax credit program.

In a new paper commissioned by the Massachusetts Housing Partnership (MHP, www.mhp.net), based on a survey of stakeholders in Massachusetts and other states, the firm Recap Advisors recommends 10 strategic steps that state housing credit agencies should take to most effectively allocate their 2009 low-income housing tax credits in the current troubled LIHTC equity environment.