Federal / Agency News
Affordable Housing Credit Improvement Act Reaches 200 Co-Sponsors in the House
The Affordable Housing Credit Improvement Act achieved a major milestone – 200 co-sponsors within the House of Representatives (H.R. 3238).
Congress Introduces Workforce Housing Tax Credit Act
Senators Ron Wyden (D-OR) and Dan Sullivan (R-AK) and Representatives Jimmy Panetta (D-CA) and Mike Carey (R-OH) introduced the Workforce Housing Tax Credit Act (S. 3436 and H.R. 6686).
HUD Notice Eliminates Assurance of Completion on a Section 223(f) with New LIHTC
A new Mortgagee Letter (2023-24) eliminates the ten percent assurance of completion to be added to the Escrow Agreement for Deferred Repairs for 223(f) projects with LIHTC
HUD Launches Free Energy and Water Benchmarking Service for HUD-Assisted Multifamily Properties
HUD is making its Energy and Water Benchmarking Service available for properties participating in its Multifamily project-based rental assistance programs.
Naxalone Resources for HUD-Assisted Properties
HUD, the Department of Health and Human Services and the White House Office of National Drug Control Policy urge HUD grantees to proactively engage with public health and other community organizations to combat the opioid crisis and keep their communities safe.
CDFI NMTC Deadline Reminder
The deadline for online submission of the NMTC Allocation Application through the CDFI Fund’s Awards Management Information System (AMIS) is before 5:00 p.m. ET, December 19.
HUD Publishes 2024 OCAFs; National Rate of 5.3 Percent
The U.S. Department of Housing and Urban Development published the operating cost adjustment factors (OCAFs) for eligible multifamily housing properties with an anniversary date on or after Feb. 11, 2024.
House Financial Services Subcommittee Hearing on Housing Affordability – Today at 10 a.m.
The Housing and Insurance Subcommittee of the House Financial Services Committee will hold a hearing on “Housing Affordability: Governmental Barriers and Market-Based Solutions” at 10 a.m. ET on December 6.
HUD Publishes Draft Notice of Processing Budget-Based Rent Increases
HUD’s Office of Multifamily Housing Programs published a draft housing notice clarifying the circumstances under which HUD will approve a budget-based rent increase for projects subject to Low Income Housing Preservation and Resident Homeownership Act (LIHPRHA) Use Agreements.
HUD Announces Proposed “30-Day Notice” Rule for Nonpayment of Rent
A new HUD Proposed Rule would require public housing agencies (PHA) with tenants in public housing and owners of properties participating in HUD Multifamily project-based rental assistance programs to provide their tenants with written notification at least 30 days prior to filing for eviction due to nonpayment of rent in court.
Over 46,000 Applications Received for Low-Income Communities Bonus Credit Program
The U.S. Department of the Treasury, Internal Revenue Service (IRS) and Department of Energy (DOE) announced that the Low-Income Communities Bonus Credit Program received more than 46,000 applications within the initial 30-day application period.
HUD Publishes Notice for Green Mortgage Insurance Premium Reporting
HUD’s Office of Multifamily Housing Programs and Office of Residential Care Facilities published a Housing Notice titled Required Use of Portfolio Manager for Green Mortgage Insurance Premium Compliance Reporting,