WASHINGTON, DC — The National Council of State Housing Agencies (NCSHA) has published updated recommended practices for state Housing Finance Agency (HFA) administration of the Low Income Housing Tax Credit (Housing Credit) program.
The new guidelines respond to current program challenges and opportunities by updating and expanding both NCSHA’s existing Recommended Practices in Housing Credit Allocation and Underwriting and Recommended Practices in Housing Credit Compliance Monitoring. The final report is a consolidation of these two sets of practices, covering the breadth of state program administration responsibilities. The report significantly strengthens a number of existing recommended practices and includes 13 important new practices.
A task force appointed by the NCSHA Board of Directors worked on this project over 18 months, collaborating with other HFA executive directors and their staff. NCSHA also sought comments from numerous organizations and businesses involved in the Housing Credit industry, including national advocacy associations and developer, syndicator, consultant, investor, and other stakeholder groups. In total, 32 organizations and businesses commented on the proposed recommended practices.
The NCSHA Board of Directors adopted the final report of the Task Force on Recommended Practices in Housing Credit Administration at its December 4 meeting in Washington, DC. A copy of the board-adopted recommended practices is available at ncsha.org.
About the National Council of State Housing Agencies
NCSHA is a national nonprofit, nonpartisan association that advocates on behalf of HFAs before Congress and the Administration for affordable housing resources. NCSHA represents virtually every state HFA and the HFAs of the District of Columbia, New York City, Puerto Rico, and the U.S. Virgin Islands. NCSHA’s membership also includes more than 300 affordable housing industry partners. Learn more at ncsha.org.
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