A 12-month extension of the placed-in-service deadline for all developments allocated Housing Credits in calendar years 2018 – 2021;
A 12-month extension of the year-end deadline for property restoration for any property that suffers a casualty loss not associated with a major disaster during 2020;
A 12-month extension for all open noncompliance corrective action periods; and
Guidance clarifying Housing Credit allocating agencies may conduct telephonic hearings to satisfy public approval requirements for qualified allocation plans until September 30, 2021.
Enterprise strongly supports NCSHA’s recommendations to the IRS and Treasury for additional Housing Credit relief in light of the continued impact of the pandemic. For a synopsis of NCSHA’s requests, read their recent blog here.