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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...

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...

2012 Delaware State Housing Authority Low Income Housing Tax Credit (LIHTC) Applications Received

The Delaware State Housing Authority (DSHA) received eight applications for 2012 Low Income Housing Tax Credits (LIHTC) in response to the 2012 Qualified Allocation Plan (QAP) for a total request of $4,160,226 LIHTC.  It could be said that this is the year of the new construction project.  Of ... read more...

Delaware’s 2012 Qualified Allocation Plan (QAP) – Clarifications by the Delaware State Housing Authority (DSHA)

In response to questions by developers, the Delaware State Housing Authority (DSHA) provided some clarifications to its 2012 Qualified Allocation Plan (QAP) for Delaware’s annual allocation of low income housing tax credits (LIHTC). Pool Limit – A tax credit application should not request more ... read more...

2012 Rent and Income Limit Calculator

Novogradac & Company LLP has released the final version of the Rent & Income Limit Calculator© featuring the U.S. Department of Housing and Urban Development’s (HUD) 2012 rent and income limit data. The Rent & Income Limit Calculator© can calculate IRC Section 42(i)(3)(A) ... read more...

Housing Credit Percentage Reverting Back to Floating Federal Rate

Many of you are already aware, the applicable housing credit percentage will revert back to the floating federal rate for tax credit developments that do not place in service by December 30, 2013. The Delaware State Housing Authority’s (DSHA’s) low income housing tax credit (LIHTC) ... read more...

DDAs are Designated by HUD for 2012

The U.S. Department of Housing and Urban Development (HUD) designated difficult development areas (DDAs) for 2012 for purposes of the low-income housing tax credit (LIHTC) under Section 42 of the Internal Revenue Code (IRC). HUD makes new DDA designations annually. LIHTC projects in DDAs or ... read more...

HUD Released Income Limits for 2012

The U.S. Department of Housing and Urban Development (HUD) has released income limits for 2012. Click here for links to the 2012 income limits and accompanying information and tables. Under the Housing and Economic Recovery Act of 2008 (Public Law 110-289), income limits used to determine ... read more...

$50 Million to Finance Affordable Housing Developments

UnitedHealth Group announced it has partnered with Enterprise Community Investment to provide as much as $50 million to finance affordable housing developments in targeted communities in New Mexico. Called the UnitedHealth Group Affordable Housing Investment Program, the partnership will invest ... read more...

Low Income Housing Tax Credit (LIHTC) Qualified Allocation Plan (QAP) Has Been Approved

The Delaware State Housing Authority (DSHA) announced the 2012 Low Income Housing Tax Credit (LIHTC) Qualified Allocation Plan (QAP) has been approved and is effective as of January 3, 2012.  The application process is now open and submissions for the 2012 LIHTC application cycle will be ... read more...