The U.S. Department of Housing and Urban Development (HUD) today released income limits for fiscal year (FY) 2019 to determine income eligibility for HUD-assisted programs. Those HUD programs include public housing, Section 8, Section 202 and Section 811. HUD also released Multifamily Tax Subsidy Program income limits for FY 2019, which are used for low-income housing tax credit and tax-exempt bond properties.
The Treasury Department’s second-quarter update to the 2018-2019 Priority Guidance Plan includes plans to provide guidance for the low-income housing tax credit average-income test, the use of historic tax credit for disaster relief, regulations to clarify certain rules for the new markets tax credit and guidance on private-activity bonds for affordable housing.
The U.S. Senate today confirmed Mark Calabria as the director of the Federal Housing Finance Agency by a 52-44 vote. Calabria will oversee, among other things Fannie Mae and Freddie Mac. Calabria will serve a five-year term and he succeeds Mel Watt, whose term ended in January. Calabria previously was the chief economist for Vice President Mike Pence.
The California Tax Credit Allocation Committee (CTCAC) officially amended provisions concerning how it scores low-income housing tax credit (LIHTC) applications that were impacted by the temporary shutdown of the federal government. CTCAC extended the 180- and 194-day deadlines to begin construction by 60 days for properties affected by the shutdown. CTCAC included the changes on pages 49 and 50 of its updated regulations.
Joseph Otting, acting director of the Federal Housing Finance Agency, today announced that he has authorized the transfer of affordable housing allocations from Fannie Mae and
April 24, 2019 10:51am
April 24, 2019 10:50am
April 24, 2019 8:41am
April 24, 2019 8:33am
April 24, 2019 8:13am