DHCD’s Draft 2009 Qualified Allocation Plan – January 27, 2009

by | Jun 20, 2011 | Housing News

During 2009, the Massachusetts Department of Housing and Community Development intends to continue its long-standing commitment to the tax credit program by selecting worthy and eligible projects that are highly ready to proceed and capable of attracting interest from remaining investors.

In preparing the 2009 Qualified Allocation Plan (QAP), as required by the U.S. Department of the Treasury, DHCD has attempted to balance four primary goals:

  • to build as much flexibility as possible into the tax credit development and selection process;
  • to expedite the selection process for eligible projects capable of attracting scarce equity

    investments;

  • to take advantage of key elements of the HERA legislation from July 2008;
  • to remain true to the Department’s core mission by selecting eligible projects with attributes that

    have always been important to DHCD.

HUD Releases Allocations for $3.9 Billion Neighborhood Stabilization Program – September 26, 2008

by | Jun 20, 2011 | Housing News

HUD’s new Neighborhood Stabilization Program will provide emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state and certain local communities to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring.

Read HUD’s News Release for Allocations

New National Protections for Renters in Foreclosed Properties – May 27, 2009

by | Jun 20, 2011 | Housing News

President Obama signed S. 896 on May 20, 2009. This bill includes a nationwide 90 day preeviction notice requirement for tenants in foreclosed properties. The provisions of the bill are effective on enactment, May 20, 2009.

Specifically, the new law will require that the immediate successor in interest at foreclosure

  • provide bona fide tenants with 90 days notice prior to eviction and
  • allow bona fide tenants with leases to occupy the property until the end of the lease term except the lease can be terminated on 90 days notice if the unit is sold to a purchaser who will occupy the property.

Please click here to read the memo from the NLIHC on S. 896.

Treasury Department Releases Details on Public Private Partnership Investment Program – March 23, 2009

by | Jun 20, 2011 | Housing News

March 23, 2009 – U.S. Department of the Treasury – Over the past six weeks, the Treasury Department has implemented a series of initiatives as part of its Financial Stability Plan that – alongside the American Recovery and Reinvestment Act – lay the foundations for economic recovery.

Please click here to read the details of the Treasury Department’s initiatives.