Federal / Agency News

HUD issued a notice with proposed changes to calculate fair market rents (FMRs), including a change in the definition of “recent mover” to include residents who have lived in their current household for 11 months or less and to retain and to expand the use of rent inflation factors calculated by private-sector sources.  

The Community Development Financial Institution (CDFI) fund continues efforts to revise the CDFI Certification application through the chair of the community development advisory board.

HUD’s Office of Multifamily Housing Programs issued a memo, which removes the $25 million loan cap for the LIHTC Pilot Program.

HUD published the Final Inspection Standards Notice for the National Standards for the Physical Inspection of Real Estate (NSPIRE). HUD also announced that they have posted answers to new Frequently Asked Questions for the Green and Resilient Retrofit Program (GRRP) based on the May 23 webinar.

The Federal Housing Finance Agency (FHFA) released its 2022 Report to Congress.

The Community Development Financial Institutions (CDFI) Fund announced that authorized representatives of either a CDFI or an organization that received an award must submit the Annual Certification and Data Collection Report (ACR) to maintain CDFI Certification status.

House Ways and Means Chairman Jason Smith (R-MO) released The American Families and Jobs Act, an opening salvo for a year-end tax package. The package focuses primarily on extensions of expired business-related tax credits from the Tax Cuts and Jobs Act of 2017.

Last week, Representatives Mike Kelly (R-PA) and Brian Higgins (D-NY) reintroduced the Neighborhood Homes Investment Act (H.R. 3940).

The National Low Income Housing Coalition (NLIHC) published the 2023 edition of its annual Out of Reach Report, which compares the wages people earn and the costs of modest rental housing in every state, metropolitan area and county in the U.S.

HUD announced that on June 15, 2023, the Community Planning and Development (CPD) Income Eligibility Calculator will update to incorporate the FY 2023 Income Limits for all programs.

The U.S. Department of the Treasury CDFI Fund announced that the June New Markets Tax Credit Program Qualified Equity Investment (QEI) report has been updated and is available.

HUD announced a new report available related to the new quarterly closeout status indicator for the Neighborhood Stabilization Program (NSP).