by iwd Tina | Jun 20, 2011 | Housing News
HUD and the Department of Energy (DOE) have announced an interagency agreement that will help pave the way for the Weatherization of HUD assisted and LIHTC properties. DOE has concluded that existing income verification procedures for HUD assisted, public housing, and LIHTC properties are sufficient for determining eligibility for the Weatherization Assistance Program (WAP). This agreement reduces a significant administrative obstacle to improving the energy efficiency and livability of these homes.
Please click here to read the Memorandum of Understanding between the two departments.
by iwd Tina | Jun 20, 2011 | Housing News
The U.S. Government on Sunday entered into an agreement with Citigroup to provide a package of guarantees, liquidity access and capital. As part of that agreement, Treasury and the FDIC will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by commerical and residential real estate and other such assets.
Click here for the full statement.
by iwd Tina | Jun 20, 2011 | Housing News
Please click here to read CHAPA’s letter to Chairman of the House Committee on Ways and Means, Charles Murphy, supporting amendments to the FY’ 10 House Ways and Means budget.
by iwd Tina | Jun 20, 2011 | Housing News
Economic activity in Massachusetts is estimated to have declined at a 4.2 percent annualized rate in the first quarter of 2009, according to the MassBenchmarks Current Economic Index. The US Bureau of Economic Analysis reported today that the national economy declined at an estimated annual rate of 6.1 percent during the same period.
Please click here for the full MassBenchmarks bulletin.
by iwd Tina | Jun 20, 2011 | Housing News
The federal Department of Housing and Urban Development (HUD) has awarded $54.8 million from the Housing and Economic Recovery Act (HERA) to Massachusetts and four of its cities. These NSP funds are to be used primarily for the acquisition and rehabilitation of abandoned and foreclosed properties. The awards amounts are:
- Massachusetts – $ 43.47 million
- Boston – $ 4.23 million
- Brockton – $ 2.15 million
- Springfield – $ 2.57 million
- Worcester – $ 2.39 million
Please click here to view the draft plan and attachments for the program on DHCD’s website.
by iwd Tina | Jun 20, 2011 | Housing News
HUD and the Treasury Department issued guidance on the Tax Credit Assistance Program (TCAP) and the Low Income Housing Tax Credit Exchange Program (“Section 1602”) on May 4, 2009. They held a joint webcast on May 6 to discuss the programs and issues that will be addressed through further guidance and/or “Q and A” websites. Both agencies emphasized the importance of meeting commitment and spending deadlines. Treasury was represented on the webcast by Jean Whaley and HUD by Marcia Sigal. HUD has a TCAP Q&A website and Treasury is accepting questions by email at 1602Questions@do.treas.gov.
Please click here to read CHAPA’s summary.
