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Hurricane Sandy and Low Income Housing Tax Credit (LIHTC) Properties

The Internal Revenue Service (IRS) and the Department of Treasury will be waiving the low-income and non-transient requirements for Low Income Housing Tax Credit (LIHTC) Properties providing temporary housing to disaster victims rendered homeless by Hurricane Sandy in certain counties.  Without ... read more...

Deputy Secretary of the Housing and Urban Development Tours Chester, Pennsylvania

The deputy secretary of the U.S. Department of Housing and Urban Development (HUD), Maurice Jones traveled to Chester, Pennsylvania to tour some HUD financed developments. HUD is a government agency that works to create quality and sustainable affordable housing for all. The executive director ... read more...

Proposed Chapter 9 Bankruptcy for Scranton, Pennsylvania

A local accountant for the City of Scranton, Pennsylvania has proposed that the city declare Chapter 9 bankruptcy. A Chapter 9 bankruptcy is a proceeding that provides financially distressed municipalities with protection from creditors by creating a plan between the municipality and its ... read more...

Three Affordable Housing Developments Earn The Department of Housing and Urban Development’s (HUD) Design Award

Three affordable housing developments earned the prestigious HUD Secretary’s Housing and Community Design Award. The U.S. Department of Housing and Urban Development (HUD) and the American Institute of Architects (AIA) selected Richardson Apartments in San Francisco, California; Bud Clark ... read more...

Rural Development’s Section 538 Program and Obama’s New Budget Proposal

The U.S. Department of Agriculture (USDA) Rural Housing Service (RHS) is planning to meet regarding Section 538 program. Section 538 program is to designed to promote commercial financing of rural affordable housing for low and moderate income people. Through the 538 program, the USDA ... read more...

Senate Appropriations Committee Approved Spending Bill FY 2013

On April 19, the Senate Appropriations Committee approved its version of the FY 2013 spending bill (S. 2322) for the Department of Housing and Urban Development (HUD) and on April 26th approved the FY 2013 spending bill (S.2375) for the Department of Agriculture (USDA), which includes funding ... read more...

Rise in Pending Home Sales

The National Association of Realtors reported pending home sales were up more than expected in March. Pending Home Sales Index was up to 101.4 for the month, compared with 97.4 in February (100 = 2001). The Pending Home Sales Index is a leading indicator for the housing sector, based on pending ... read more...

Qualified Census Tracts (QCTs) for 2013 for the purpose of the Low-Income Housing Tax Credit (LIHTC)

On April 24, 2012 The U.S. Department of Housing and Urban Development (HUD) designated qualified census tracts (QCTs) for 2013 for the purpose of the low-income housing tax credit (LIHTC) under the Section 42 of the Internal Revenue Code (IRC). The LIHTC is a tax incentive intended to increase ... read more...

The President’s Framework for Business Tax Reform

The White House and the U.S. Department of the Treasury  released “The President’s Framework for Business Tax Reform.”on February 22, 2012. The document outlines President Obama’s five recommendations for business tax reform. The five elements include eliminating certain tax expenditures and ... read more...

FHFA Releases New Report on Future of Housing Finance System

On Feb. 21, the Federal Housing Finance Agency (FHFA) released A Strategic Plan for Enterprise Conservatorship. The report proposes a path forward for resolving the status of Fannie Mae and Freddie Mac, the government-sponsored enterprises that are currently in federal conservatorship. More ... read more...