Department of Housing and Urban Development May 7, 2009 – Federal Register Recent Federal Regulation Documents

HUD announces the availability on its website of the application information, submission deadlines, funding criteria, and other requirements for the FY2009 Neighborhood Stabilization Program Technical Assistance (NSP-TA) under the American Recovery and Reinvestment Act of 2009 (Pub. L. 111-5, approved February 17, 2009) (the Recovery Act). The Recovery Act authorizes $50 million for HUD's NSP-TA program, the purpose of which is to provide technical assistance to achieve the highest performance and results for HUD's Neighborhood Stabilization Program. The notice providing information regarding the application process, funding criteria and eligibility requirements is available on the HUD Web site at https://www.hud.gov/recovery.

Through this notice, HUD announces the availability on its Web site of the submission requirements, eligible uses, fund commitment and expenditure deadlines, fund distribution, and other requirements for the Tax Credit Assistance Program authorized by Section 2, Division A, Title XII of the American Recovery and Reinvestment Act of 2009 (Pub. L. 111-5, approved February 17, 2009). TCAP funding is eligible to be used for capital investment in eligible Low-Income Housing Tax Credit (LIHTC) projects. A major purpose of TCAP funds is to immediately create jobs or save jobs in danger of being lost due to the current economic crisis. Approximately $2.250 billion is allocated for this purpose under the heading of the HOME Investment Partnerships Program (HOME). The available funding will be allocated to state housing credit agencies based on the percentage of the 2008 HOME appropriation received by the state and local participating jurisdictions within the state. The housing credit agencies of each state, the District of Columbia, and the Commonwealth of Puerto Rico are the only eligible grantees of the TCAP program. The notice establishing the program and application requirements for these funds, allocation information, and eligibility criteria is available on the HUD Web site at: https:// www.hud.gov/recovery/tax-credit.cfm.