Federal / Agency News

Tenants at Burbank Apartments in Massachusetts sued when the building’s owner decided not to renew a Section 8 contract with HUD, arguing that it would disproportionately impact people of color. The court’s final decision was made after careful consideration of last summer’s Supreme Court ruling on disparate impact and the Fair Housing Act.

HUD is soliciting applications for the FY2016 Choice Neighborhoods Implementation Grants program. The maximum grant award is $30 million. Applications are due on June 28, 2016.

All Section 236 loans will mature in the next 3 years and HUD is encouraging all owners and managers of Section 236 projects to take action in 2016 to preserve their properties as affordable housing. A new step-by-step guide to preservation explains key financial issues and guidance.

The LIHTC portfolio grew by 481 properties, encompassing 125,876 units, from 2012 to 2013, according to recent data from HUD. The report was a follow-up to last year’s release of Understanding Whom the LIHTC Program Serves: Tenants in LIHTC Units.

Annual population estimates determine the amount of Low-Income Housing Tax Credit and tax-exempt private activity bond authority is available for a given year.

The bridge loan platform provides interim funding support for acquisition and refinancing applications on HUD multifamily and healthcare loans. It was expanded to include tax credit equity bridge loans and conventional financing for multifamily and healthcare new construction.

The U.S. Department of Housing and Urban Development released FY-2016 income limits to be used when setting maximum rental rates for housing financed using Low-Income Housing Tax Credits or Tax-Exempt Bonds, as well as income limits to determine eligibility for HUD-assisted housing programs.

Preparing for an unprecedented number of RAD transactions this year, HUD is already seeing requests for extensions to Financing Plan submission deadlines. HUD will host a listening session to discuss incentives or remedies short of revoking CHAPs to keep PHAs on schedule and to mitigate the surge of volume at year-end.

Over the next 60 days, HUD is soliciting comments on the Affirmatively Furthering Fair Housing Assessment Tool for States and Insular Areas. One of three AFFH Assessment Tools, this tool is to be used where the State is designated as the lead entity.

The deadlines for Congressmen to sign-in to the letters of support for HOME funds are this Friday, March 11 in the House and March 15 in the Senate.

The Internal Revenue Service updated the regulations that set the minimum number of low-income units in a Low-Income Housing Tax Credit project for which a housing finance agency must conduct physical inspections and low-income certification reviews.

The Fiscal Year 2015 Annual Report from the National Park Service, Federal Tax Incentives for Rehabilitating Historic Buildings, reveals a program that helped provide homes for low- and moderate- income residents, boosted local economies, and created jobs.