Federal / Agency News

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

Local governments and their partners who receive CDBG, HOME, ESG, or HOPWA formula funding from HUD will use the AFFH Assessment Tool.

HUD has released the AFFH Assessment Tool that local governments and their partners will use this tool to conduct and submit their own Assessments of Fair Housing if they receive CDBG, HOME, ESG, or HOPWA funds.

Priya Jayachandran is the new Deputy Assistant Secretary for Multifamily Housing at the U.S Department of Housing and Urban Development. She stepped into the role on December 15, 2015, when Ben Metcalf moved on to lead the California Department of Housing and Community Development.

House and Senate approved legislation to establish a permanent minimum 9% Low-Income Housing Tax Credit rate for new construction and substantial rehabilitation and extend the New Markets Tax Credit through 2019.

Congress reauthorized the Elementary and Secondary Education Act, which included Promise Neighborhoods, a sister program to the Choice Neighborhoods Initiative.

HUD published materials from local preservation clinics for Section 236 (both FHA-insured and HFA-issued) and Section 202 Director Loan property owners and their partners.

Tasked with ensuring Fannie Mae and Freddie Mac meet a requirement to serve underserved markets, the Federal Housing Finance Agency proposed a rule that will allow the GSEs to earn Duty to Serve credit activities related to several HUD housing programs. A public comment period on the proposed rule is open for 90 days.

FY 2016 funding includes level and higher funding from FY 2015 levels for many key HUD housing programs. In most cases, the funding levels stop short of fully funding the programs’ needs, but are better than expected. Congress approved the omnibus funding measure on Friday, December 18.

HUD finalized Fair Market Rents (FMRs) for fiscal year 2016. FMRs are used to set payment standards and rents for several HUD-assisted housing programs.

Several provisions related to federally-assisted housing, including a pay for success pilot to raise outside capital for energy and water retrofits, were signed into law with the FAST Act.

The Department of Housing and Urban Development adjusted Basic Statutory Mortgage Limits for the Multifamily Housing Section 207, 213, 220, 221(d)(4), 231, 234 programs. They have an effective date of January 1, 2015.

The Department of Housing and Urban Development released responses to frequently asked questions regarding the Section 8 Renewal Policy Guide.