The California Tax Credit Allocation Committee (TCAC) is considering several proposed regulation changes to its low-income housing tax credit requirements. One of these changes would include having the owner of a site file a placed-in-service application within six months of the project’s completion instead of the current one-year time frame. According to the California TCAC, […]
Standard & Poor’s believes that the District of Columbia Housing Finance Agency (DCHFA) has made improvements in recent years: the S&P’s Rating Services has raised its issuer credit rating for the DCHFA from “BBB” to “A-“ and raised its underlying rating on the agency’s certificates of participation services from “BBB-“ to “BBB+”. S&P based its […]
The National Council of State Housing Agencies (NCSHA) sent a letter on November 4 to HUD, urging the Department to “eliminate the hold harmless policy for Section 8 assistance and other direct rental subsidy programs, or to postpone any decision to eliminate the hold harmless policy until there has been more opportunity to consider and […]
Enterprise Community Partners, Inc. is making a $4 billion commitment to launch the next generation of its Green Communities initiative. In addition to making one of the largest private investments in green affordable housing, Enterprise released the first-of-its-kind study proving the overall return on investment and cost effectiveness of meeting the Enterprise Green Communities Criteria […]
With the year-end holidays approaching, many of the households at your site will be setting up holiday trees and other decorations that may pose a serious fire hazard to residents’ units as well as to your building. The possibility of a serious fire occurring underscores the need to comply with local building and housing codes […]
Just one week after the Federal Housing Finance Agency’s (FHFA) Acting Director, Edward DeMarco, came out with a statement supporting Fannie Mae’s transfer of a portion of its low-income housing tax credit (LIHTC) investments to unrelated third-party investors, a U.S. Treasury official confirmed that the administration is blocking a bid from Goldman Sachs to purchase […]
Testimony on how to expand affordable housing options for seniors and Americans with disabilities was at the top of the agenda at a Senate Banking Subcommittee on Housing, Transportation, and Community Development hearing last week. Senator Chris Dodd, chairman of the Banking Committee, joined Congressman Chris Murphy, in calling for the modernization of federal housing […]
Representatives of the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials to break ground on Glenview Townhouses, a 63-unit, mixed-income family apartment complex in Jersey City. The HMFA, an affiliate of the Department of Community Affairs, is providing mortgage funding and allocation federal Low-Income Housing Tax Credits (LIHTC) to the project. Glenview […]
HUD has just reissued Notice H08-07, Implementation of the Violence Against Women and Justice Department Reauthorization Act of 2005 for the Multifamily Project-Based Section 8 Housing Assistance Payments Program, as Notice H09-15. The reissued notice is intended to clarify some of the VAWA requirements that have been misinterpreted by site owners and managers. For instance, […]
A new program encouraging local banks and other financial groups to support the development of low-income housing tax credit investments was unveiled by the Michigan State Housing Development Authority. The creation of the Michigan Affordable Housing Investment Fund allows the MSHDA to deposit up to $250,000 with any state-regulated financial institution that makes a new […]
