The U.S. Department of Housing & Urban Development (HUD) recently updated its Section 8 Income Limits and released income limits for tax credit and tax-exempt bond projects.

One major change: HUD has eliminated its hold-harmless policy in the 2010 limits. Projects placed in service after May 14 will be affected.

VHFA Assistant Director of Multifamily Programs Kim Roy has written a memo on the changes for owners and managers of Low-Income Housing Tax Credit properties. The new limits are also attached to the memo.

Read the memo online.

A news headline we spotted yesterday took us by surprise: According to CNN.com, "Nearly 75% of homes are affordable."

A closer examination of the story reveals a couple of key conditions to their definition of affordable: "Nearly anyone with a decent job and a good credit score [our emphasis] can afford to buy ..."

The story caught our attention as we put the finishing touches on this year's "Between a Rock and a Hard Place: Housing and Wages in Vermont," our annual report on the state of Vermont's housing costs in relation to wages.

Burlington's Fox 44 TV covered the credit report review workshop held at Champlain Housing Trust earlier this week ("Free credit report reviews today"):

Thanks to the newest sponsor of the 2010 Vermont Statewide Housing Conference, coming Nov. 18:

• KPMG

Take a look at our sponsorship rate sheet and if you’d like to sign on, contact Maura Collins.