The U.S. Department of Labor is undertaking its first comprehensive review in almost 40 years of the regulations that implement the Davis-Bacon Act and related laws, requiring employers on federally-funded or assisted construction projects to pay locally prevailing wages to construction workers. Comments on the proposed rule are due by May 17, 2022.
HUD announced an increase in deductibles for wind and named insurance coverage for multifamily properties financed with FHA-insured mortgages as a measure to address rising wind and storm insurance costs in recent years with extreme weather events expected to continue.
The Environmental Protection Agency (EPA) awarded grants under the $7 billion Solar for All program, which will create or expand existing low-income solar programs.
The decoupling of rental assistance from Section 514/515 loans under the Consolidated Appropriations Act of 2024 will now permit properties with Section 514/515 maturing mortgages to continue to receive rental assistance to further preserve affordable housing. A stakeholder engagement session is being held on April 25 at 2 p.m. ET and those interested in participating are encouraged to register.
Senate, House Hold FY 2025 HUD Appropriations Hearings – April 30 & May 1