Capital Briefs

By Caitlin Jones
January 7, 2010 2 min read

Tax Credit Advisors, January 2010:

Treasury Announces New Priority Guidance Plan

The U.S. Treasury Department has released its new priority guidance plan, identifying 315 specific rulemaking projects that the Internal Revenue Service plans to initiate or complete by 6/30/10. The list includes several sets of regulations for the low-income housing tax credit program (regarding qualified contracts, utility allowances for sub-metered buildings), and several for the new markets tax credit program (final rules on targeted populations and on recapture). Other items include guidance for the LIHTC TCAP and 1602 credit exchange programs, Build America Bonds, and Section 1603 energy grants.

(http://www.irs.gov/pub/irsutl/2009_-_2010_priority_guidance_plan.pdf )

HUD Issues Several Housing Notices

The U.S. Department of Housing and Urban Development (HUD) has issued two significant notices recently. One (H 09-20) provides updated instructions to owners and management agents of assisted multifamily housing projects on how to use HUD’s Enterprise Income Verification (EIV) system, which becomes mandatory on 1/31/10. The second notice (PIH 2009Ã50) describes how HUD will address and implement various statutory amendments to its Native American housing and community development programs. One 2008 amendment clarifies the treatment regarding federal Native American housing block grant dollars to fund developer fees for low-income housing tax credit projects.

(Notices: http://www.hud.gov/offices/adm/hudclips/whatsnew)

HUD Issues Proposed Rule for Housing Trust Fund

HUD is soliciting comments by 2/2/10 on a proposed rule that specifies the formula to be used to distribute federal dollars from the national Housing Trust Fund, which was established in 2008 but hasn’t yet been capitalized.

The purpose of the Fund is to provide grants to states to increase and preserve the supply of rental housing for extremely low- and very low-income families, including the homeless, and to increase homeownership among extremely low- and very low-income families.

(http://edocket.access.gpo.gov/2009/pdf/E9-28984.pdf)

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.