Federal / Agency News
RAD Public Housing Conversions in 2019 Timeline
Tom Davis, Director of the Office of Recapitalization at HUD, sent a letter to Commitment to Enter into a Housing Assistance Payments Contract (CHAP) Awardees detailing the 2019 timeline for year-end closings of Rental Assistance Demonstration (RAD).
Permanent Extension of NMTC Introduced in Senate, House
The New Markets Tax Credit (NMTC) Extension Act of 2019 was introduced in both the Senate (S.750) and House (H.R. 1680). The bill would permanently extend the NMTC and provide an annual inflation adjustment.
President’s FY 2020 Budget Released; Deep Cuts Proposed for HUD
President Trump released his proposed FY 2020 ‘skinny’ budget, “A Budget for a Better America: Promises Kept. Taxpayers First.” Overall, the budget proposes to cut HUD by $9.6 billion or 18% below 2019 enacted levels. These cuts are similar in magnitude to the proposed cuts in the President’s FY-2019 budget request.
IRS, Treasury Amend LIHTC Compliance-Monitoring Regulations
The Department of the Treasury and the Internal Revenue Service published final regulations that amend the compliance monitoring regulations concerning the low-income housing tax credit under section 42 of the Internal Revenue Code. These final regulations revise and clarify the requirement to conduct physical inspections and review low-income certifications and other documentation. The regulations are […]
HUD Publishes RAD for PRAC Notice for Comment
The FY 18 Appropriations Act authorized the conversion of properties assisted by Section 202 Project Rental Assistance Contracts. HUD is in the process of revising the RAD Notice to include a new Section 4 that would provide implementation instructions for the conversion of Section 202 PRACs under RAD. HUD published a draft Section 4 to the Office of Multifamily Housing’s “Drafting Table” for feedback. Following consideration of public feedback received, the Office of Recap will proceed toward incorporation of the new Section 4 into a revised RAD Notice.
Appleton, Calabria and Kurtz Nominations Advance in Senate
On Feb. 26, the Senate Committee on Banking, Housing and Urban Affairs approved the nominations of Seth Appleton to be Assistant Secretary of HUD’s Office of Policy Development and Research, Dr. Mark Calabria to be Director of the Federal Housing Finance Agency and Robert Kurtz to be Assistant Secretary of HUD’s Office of Public and […]
Senate Banking Votes on Calabria’s FHFA Nomination – Feb. 26
On February 26, the Senate Committee on Banking, Housing and Urban Affairs will vote on the nomination of Mark Calabria to lead the Federal Housing Finance Agency. The Committee will also consider the nominations of Seth Appleton to lead HUD’s Office of Policy Development and Research and Robert Hunter Kurtz to be the Assistant Secretary […]
New HUD FY 2018 TPV Notice
HUD published Notice PIH 2019-01, which makes available $5 million for Tenant Protection Vouchers (TPVs) for certain at-risk households in low-vacancy areas from FY 2018 appropriations. The FY 2018 appropriations bill set aside $5 million of the total $85 million for TPV.
FY 2020 T-HUD Appropriations, Spending Caps Letter
The Campaign for Housing and Community Development Funding is leading a sign-on letter urging Congress to lift FY 2020 spending caps and fund affordable housing and transportation programs at the highest levels possible. NH&RA signed the letter and encourages our members to consider signing-on as well. The deadline to sign-on is March 1, 2019.
Two House Committee on Appropriations Subcommittee Hearings
This week House Committee on Appropriations Subcommittees will hold two housing-related hearings. On Tuesday, Feb. 26 at 10 am the Financial Services and General Government Subcommittee will hold a hearing on “Leveraging Private Capital For Underserved Communities and Individuals: A Look Into Community Development Financial Institutions” in the Rayburn House Office Building, room 2362-A. On […]
FY 2019 & 2020 Federal Budget Update
Last week Congress and the President averted another shutdown by passing funding for the remainder of FY 2019, which runs through Sept. 30, 2019. Overall, the bill provides HUD programs with more than $12 billion above the President’s request and provides $1.5 billion in new resources in FY 2019.
Enterprise Blog Summarizes and Responds to Chairman Crapo’s Housing Finance Reform Outline
NH&RA member Enterprise Community Partner recently published a blog post on Senate Banking, Housing and Urban Affairs Committee Chairman Mike Crapo’s (R-ID) housing finance reform outline. Vice President of Policy Development Andrew Jakabovics argues that eliminating the explicit commitment to affordable housing is a step in the wrong direction and that the housing finance system […]