chfa eNews

LaFollette’s Big Announcement

Ron LaFollette, manager of CHFA’s tax credit allocation team, announced his resignation, effective April 24, 2008. He is leaving CHFA to work with a Colorado based private development company, the Monroe Group. Ron started at CHFA in 1994, and has managed the tax credit allocation department for over ten years. During that time he has created a tax credit allocation process recognized as one of the most effective and developer friendly tax credit programs in the country. Ron’s expertise in the tax credit field is widely known. He has been a leader in national affordable housing forums and has been active with the national trade organization, NCSHA, as well as investors and syndicators. He will be sorely missed. Details of a celebration of Ron’s time at CHFA will be forthcoming.

Other news

The tax credit committee has completed the first round of reservations. Details are available at CHFA’s website.
April 1 was the deadline for Round 2 letters of intent. CHFA received 25 letters of intent totaling over $21 million in requests. CHFA has $3.1 million available for reservations. The application deadline is May 1.
The Grand Junction Daily Sentinel ran a story about Arbor Vista’s groundbreaking. Read the article.

Legislation

The House, Ways and Means Committee led by Chairman Rangel (D-NY) is planning to mark up his housing stimulus bill in Committee today, April 9. A Committee summary of the bill is attached. The Rangel bill contains a temporary $10 billion Housing Bond cap increase (to be available in 2008 and remain available in 2009 and 2010); a two-year 20 cent per capita Housing Credit cap increase to offset the reduced number of units current authority will likely produce as a result of other changes the bill proposes; temporary, three-year MRB refinancing authority; permanent Alternative Minimum Tax (AMT) relief for both Housing Bonds and the Credit; and several other Housing Credit changes NCSHA (National Council of State Housing Authorities) has proposed.

Please send any comments or questions to Jaime Gomez,
jgomez@chfainfo.com


Tax Credit eNews	LaFollette’s Big Announcement Ron LaFollette, manager of CHFA’s tax credit allocation team, announced his resignation, effective April 24, 2008. He is leaving CHFA to work with a Colorado based private development company, the Monroe Group. Ron started at CHFA in 1994, and has managed the tax credit allocation department for over ten years. During that time he has created a tax credit allocation process recognized as one of the most effective and developer friendly tax credit programs in the country. Ron’s expertise in the tax credit field is widely known. He has been a leader in national affordable housing forums and has been active with the national trade organization, NCSHA, as well as investors and syndicators. He will be sorely missed. Details of a celebration of Ron’s time at CHFA will be forthcoming. Other news The tax credit committee has completed the first round of reservations. Details are available at CHFA’s website. April 1 was the deadline for Round 2 letters of intent. CHFA received 25 letters of intent totaling over $21 million in requests. CHFA has $3.1 million available for reservations. The application deadline is May 1. The Grand Junction Daily Sentinel ran a story about Arbor Vista’s groundbreaking. Read the article. Legislation The House, Ways and Means Committee led by Chairman Rangel (D-NY) is planning to mark up his housing stimulus bill in Committee today, April 9. A Committee summary of the bill is attached. The Rangel bill contains a temporary $10 billion Housing Bond cap increase (to be available in 2008 and remain available in 2009 and 2010); a two-year 20 cent per capita Housing Credit cap increase to offset the reduced number of units current authority will likely produce as a result of other changes the bill proposes; temporary, three-year MRB refinancing authority; permanent Alternative Minimum Tax (AMT) relief for both Housing Bonds and the Credit; and several other Housing Credit changes NCSHA (National Council of State Housing Authorities) has proposed. Please send any comments or questions to Jaime Gomez, jgomez@chfainfo.com