Industry News

FY 2020 Deadline Looms, Senate Appropriations Committee Approves T-HUD Bill

Yesterday the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies (T-HUD) favorably reported its FY 2020 funding bill to the full committee. The full Senate Appropriations Committee will hold a hearing on the bill at 10:30 am EDT on September 19 in the Dirksen Senate Office Building, Room 106 and via webcast.

As of publication, the T-HUD bill has yet to be released. Overall the subcommittee received a 302(b) allocation of $74.3 billion, $3.2 billion above the FY 2019 enacted levels. HUD received $56.0 billion in total budgetary resources, which is offset by $7.4 billion in receipts from the Federal Housing Agency/Ginnie Mae for a net funding level of $48.6 billion, an increase of $2.3 billion above the FY 2019 enacted level.

House Passes Three Housing Bills on Rural Housing Preservation, Carbon Monoxide and Homebuyer Assistance

The House has passed a set of housing-related bills, advancing these measures to the Senate. The Strategy and Investment in Rural Housing Preservation Act of 2019 (H.R. 3620) would permanently authorize the U.S. Department of Agriculture’s (USDA) Multifamily Housing Preservation and Revitalization program, and would authorize $1 billion to carry out the program. The Safe Housing for Families Act of 2019 (H.R. 1690) would authorize over $300 million over three years to fund the installation and maintenance of carbon monoxide detectors in HUD’s public housing units.

Finally, the Homebuyer Assistance Act of 2019 (H.R. 2852) would make it easier for homebuyers to buy a home with a Federal Housing Administration mortgage by alleviating the current shortage of certified appraisers.

HUD Proposed Rule Implements Three Sections of HOTMA

HUD released a proposed rule that would revise HUD regulations by implementing sections 102, 103 and 104 of the Housing Opportunity Through Modernization Act of 2016 (HOTMA S. 3083/H.R. 3700 of the 114th Congress). These sections make sweeping changes to the United States Housing Act of 1937, particularly those affecting income calculation and reviews. Comments are due by November 18.

Member News

Honoring the Joes with the 2019 Affordable Housing Vision Award

Joe Hagan, president emeritus at the National Equity Fund, Inc. (NEF) and Lyndel J. “Joe” Wishcamper, president at The Wishcamper Companies, Inc. will receive the 2019 Affordable Housing Vision Award in recognition of their stewardship and expansion of affordable housing opportunities for low-income families around the country.  The awards will be presented at a luncheon […]

Bellwether Enterprise Strengthens Affordable Housing Group with VP Hire and Three EVP Promotions

Bellwether Enterprise, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, announced the expansion of its Affordable Housing Group, hiring Lundat Kassa as a vice president based in the Washington DC office and promoting three leaders to the executive vice president level: Victor Augusta in Raleigh, NC; Jon Killough in Montgomery, AL; and NH&RA board member, Jim Gillespie, New York, NY.

Woda Cooper Companies Earns LEED Certifications for Two Ohio Affordable Seniors Communities

Two of Woda Cooper Companies, Inc.’s newest properties in Ohio recently earned LEED certifications. Fairwood Commons in Columbus was rated LEED Platinum, the U.S. Green Building Council’s highest level in its LEED for Homes program. Audubon Crossing in Dayton earned the second highest rating possible with LEED Gold.