Federal / Agency News
$142 Million Available in 2018 Round of Capital Magnet Fund
Applications are due September 17.
Housing Choice Voucher Mobility Act Passes House
The bill, sponsored by Rep. Sean Duffy (R-WI), would authorize the Secretary of Housing and Urban Development to carry out a housing choice voucher mobility demonstration to encourage families receiving such voucher assistance to move to lower-poverty areas and expand access to opportunity areas.
HUD Approves CDBG-DR Plans for Texas and Florida
Florida’s Action Plan, which oversees $616 million, includes $100 million for workforce affordable rental new construction.
HUD Publishes RAD Changes Including from 2018 Appropriations Act
HUD recently published two Rental Assistance Demonstration (RAD) federal notices that codify FY 2018 Appropriations Act provisions (including authority for a substantial increase of public housing units) as well as revised HUD policies encompassing five innovations to improve RAD.
RAD Training Recordings Available
350 attendees packed HUD’s auditorium to learn about topics including resident rights and protections, the importance of strategic planning, and innovative uses of RAD to achieve local objectives.
White House Proposal Would Move Rural Housing Programs to HUD, Transfer CDBG to Dept. of Commerce
The proposal would reorganize several aspects of the Federal Government, with affordable housing and GSE reform in the mix.
Senate Votes Down Rescissions
Due to procedural rules, Congress had until June 22 to pass the rescissions with a simple majority.
Addiction Recovery Housing Bill Passes House
The THRIVE Act is a plan to create a transitional housing program for individuals recovering from opioid addiction or other substance abuse disorders.
HUD Updates FAQ for Transferring Budget Authority Under Section 8(bb)
HUD has released a new FAQ document for executing Section 8(bb) transfers, which allows for the transfer of budget authority from a terminated/expiring Project-Based Rental Assistance HAP contract to a new or existing PBRA HAP contract.
Bipartisan Legislation Introduced to Enhance the Historic Tax Credit, Support Needed
NH&RA encourages its members to support this important legislation. Sponsors anticipate there is an opportunity to attach the basis adjustment language to a larger legislative package that is likely to move through Congress toward the end of the year. Support for the legislation needs to come from both sides of the aisle to improve its chances of enactment.
Treasury Makes Final Round of Opportunity Zone Designations
The final round of submissions were approved for: Florida; Nevada; Pennsylvania; and Utah. All Opportunity Zones can now be viewed on the CDFI Fund website.
NMTC Responsible for 272 Projects, 60,000 Jobs in 2017
The New Markets Tax Credit Coalition recently released its 2018 New Markets Tax Credit (NMTC) Progress Report.