Federal / Agency News
Treasury Reallocates $1 Billion in ERA 1 Funding to States, Localities and Tribes
The U.S. Department of the Treasury announced the second round of reallocations from the Emergency Rental Assistance (ERA) program.
HUD Names Willie Fobbs Director of Multifamily Office of FHA Production
HUD recently named Willie Fobbs as director of Multifamily’s Office of Production. Prior to joining HUD, Fobbs served as the associate director of housing production and preservation at the Virginia Department of Housing and Community Development (DHCD).
HUD Withdraws Clarification on Valuation of Non Shelter Services Memo
On March 24, HUD issued a memo withdrawing its November 15 Clarification on Valuation of Non Shelter Services memo. HUD expects to more fully address the issues that led to the release of this memo, as well as questions and concerns arising from the memo, in upcoming draft revisions to Chapter 9 of the Section 8 Renewal Policy Guidebook.
NLIHC Publishes 2022 Advocates’ Guide
National Low Income Housing Coalition (NLIHC) released its Advocates’ Guide 2022: A Primer on Federal Affordable Housing & Community Development Programs & Policies, a comprehensive resource for advocates and others involved in many aspects of affordable housing and community development.
President Biden Releases FY2023 Budget Request
On Monday, the White House released its FY 2023 budget proposal, which requests $71.9 billion in discretionary funding for HUD and $50 billion for “Addressing Cost Pressures and Expanding Economic Capacity.”
IRS Permanently Allows Virtual Bond, QAP Hearings
In Revenue Procedure 2022-20, the Internal Revenue Service provides permanent authority to conduct telephonic public hearings for tax-exempt private activity bonds and QAPs.
IRS Publishes 2022 Population Figures
The Internal Revenue Service published Internal Revenue Bulletin No. 2022-12, which contains calendar year 2022 resident population figures to calculate state allocations of the nine percent LIHTC and private activity bond cap.
House Introduces Bill to Facilitate Use of Fiscal Recovery Funds in LIHTC Developments
Representatives Alma Adams (D-NC), Carolyn Maloney (D-NY) and David Rouzer (R-NC) introduced the LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence (LIFELINE) Act, H.R. 7078, which would allow states and localities to use Coronavirus State and Local Fiscal Recovery Fund (SLFRF) resources to make long-term loans to Housing Credit developments.
Rural Housing Service: MPR NOSA and Workshop for Section 514 and Section 515 for Fiscal Year 2022
USDA’s Rural Housing Service published a Notice of Solicitation of Applications entitled, Multi-Family Housing Preservation and Revitalization Demonstration Program-Section 514 and Section 515 for Fiscal Year 2022.
HUD Updates Mortgage Limits for Multifamily Housing Programs, Substantial Rehabilitation Thresholds
HUD published a Federal Register notice adjusting the Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs. The percentage change in the consumer price index for all urban consumers is 4.2 percent and the limits have an effective date of Jan. 1, 2022.
HUD Extends Expedited Regulatory Waiver Deadline for PHAs
HUD extended the submission deadline for expedited regulatory waivers until April 1, 2022, for Public Housing and Housing Choice Vouchers.
HUD Updates FMRs for 12 Areas
HUD updated the fair market rents (FMRs) for the Housing Choice Voucher Program, Moderate Rehabilitation Single Room Occupancy Program and other programs for Fiscal Year 2022 for 12 areas based on new survey data: