Implementing a Recovery Act requirement, HUD will be publishing in tomorrow's Federal Register a notice asking for suggestions to expedite processing of FHA MF Insured loans with LIHTC and/or with tax exempt bonds AND FHA insured preservation projects.
See the advance copy HERE. There apparently will be a 60 day period to comment.
Specific language on covered projects:
"...projects for which HUD provides assistance in conjunction with low-income housing tax credits under section 42 of the Internal Revenue Code of 1986 (26 U.S.C. 42) or tax-exempt housing bonds, and public or assisted housing projects for transactions, in conjunction with any low-income housing tax credits or tax-exempt bonds, involving the preservation or rehabilitation of the project."
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