SDHF has been compiling current water rates and approved rate increases for each of the water authorities serving the county. Information on accessing the new data will be available at the Roundtable. It also is expected that provisions of the City of San Diego's draft ordinance requiring water submetering for all new multifamily construction in the city will be available at the session. For information and registration information, click here.

Deadline Extended for Exchange Projects

The IRS is expected to publish a proposal Monday to extend the date by which all LIHTC exchange funds must be disbursed by the California Tax Credit Allocation Committee (TCAC) from January 1, 2011 to December 31, 2011 as long as the original award was made before December 31, 2010 and that 30% of the project has been completed by the end of 2010. The Treasury Department has determined that the current regulations are overly restrictive and may preclude funding of otherwise eligible projects that may not reach final completion by the end of 2010. The funds are available through the American Recovery and Reinvestment Tax Act of 2009 (ARRA).

Weekly Brief Not Enough?

For those of you who want breaking news before Friday when the Weekly Brief goes on-line, follow us on Twitter @sdhfexec. At least one local reporter has followed up on a couple of items posted to the Federation's Twitter account. It is free to join and you can choose whether or not you want posts sent to your phone or you can view them at your leisure from your web browser or use a third party desktop application like TweetDeck. Click on the Twitter link on the right.

Some 4% Apps Won't Qualify for ARRA Funds

The California Tax Credit Allocation Committee (TCAC) reports that it has received an unusually high number of Tax Exempt Bond Project applications for four percent (4%) Low Income Housing Tax Credits in response to revised TCAC regulations adopted in July. The new regulations correspond to the federal American Recovery and Reinvestment Act of 2009 (ARRA). Staff anticipates reviewing and presenting the 4% applications to the Committee on October 22, 2009.

Applicants are advised that Tax Exempt Bond Project applications for 4% credits received after July 24 will not qualify for ARRA funding since they will not receive a credit reservation prior to the regulatory deadline of September 30, 2009.

Education Committee Seeks Roundtable Topics

The Federation's Education Committee will meet early in September to consider topics for the 2010 Affordable Housing Roundtables. The Roundtables, typically one and a half hours in length, focus on specific topics of interest to developers, property and asset managers, resident services personnel and others interested in affordable housing. They typically cover case studies, specific "how to" information, new programs, financing or industry trends. If you have a topic that you think would be of interest to you and other Federation members or their staff in 2010, please contact Kelley Dukat at kelley@housingsandiego.org. Suggestions are needed by Friday, September 4.

Also, the Committee is welcoming new members. Contact Kelley if you are interested in learning more.

Save the Date!

Thursday, October 15