News
Senator Harris Proposes Protections for Renters and Homeowners in RELIEF Act
Senator Kamala Harris (D-CA) announced the Rent Emergencies Leave Impacts on Evicted Families (RELIEF) Act on July 16, legislation aimed at keeping residents in their homes during the COVID-19 pandemic.
Sign-On Letter Urging HUD to Postpone REAC Inspections through 2020
NH&RA is leading a sign-on letter urging HUD to extend the current moratorium on Real Estate Assessment Center (REAC) inspections for all Multifamily programs through the end of 2020, except where there is a documented threat to health and safety at a property. The letter also requests that HUD waive the 14-day property specific scheduling notice and permit a 30-day scheduling notification. Click
House Appropriations Committee Advances FY 2021 HUD Funding
Yesterday, the full House Committee on Appropriations voted along party lines to approve the fiscal year (FY) 2021 Transportation, Housing and Urban Development and Related Agencies (T-HUD) bill. A summary of the HUD provisions can be found here. The full committee added the and amendment that allows certain CDBG-DR grantees to request relief from recaptures for overpayments.
New HUD Guidance for Property Owners and FHA Borrowers
The eviction moratorium for HUD-assisted multifamily properties authorized by the CARES Act will expire on July 24. Last week, HUD’s Office of Multifamily Housing published guidance for multifamily property owners on promoting housing stability during the pandemic. Separately, HUD published Notice H 2020-7, Coronavirus Aid, Relief and Economic Security (CARES) Act Eviction Moratorium that extends […]
HUD’s OAMPO Issues Guidance on Processing Special Claims for Vacancy
HUD’s Office of Asset Management and Portfolio Oversight (OAMPO) has issued a memo providing instructions for processing special claims for vacancy for properties affected by COVID-19. This memo expands the applicability to properties being developed under the Rental Assistance Demonstration (RAD) program. For properties undergoing initial rent-up the 60 days starts as of the date of the permission to occupy the unit or the effective date of the contract, whichever is later.
Audited Financial Reporting Deadline Extended to Sept. 30 for HUD’s Multifamily West Region
HUD’s Multifamily West Region is extending the audited financial reporting deadlines until September 30, 2020. This waiver is limited to entities, which are required to submit the referenced annual financial information on or before June 30, 2020.
HUD’s Health@Home Webinar Series – Summer and Fall 2020
The Health@Home webinar series consists of four webinars that provide affordable housing rehabilitation specialists and program managers with information on integrating healthy housing techniques into their rehabilitation projects and best practices from practitioners who have successfully implemented these techniques.
Urban Institute: The OCC’s Final CRA Rule Improves Upon the Proposed Rule but Remains Unsatisfactory
The Urban Institute argues that the new CRA regulations suffer from four big problems: (1) There is no evidence of the impact of the new regulations; (2) The primary metric used for assessing CRA compliance neglects community needs; (3) The regulations create a limited and unforgiving test on retail and community development lending, with limited community coverage; and (4) Public data will be lost while bank reporting burdens will increase.
Workers Must Earn $19.56 to Afford Rent for a One-Bedroom; $23.96 for a Two-Bedroom
The National Low Income Housing Coalition released its annual Out of Reach report, which shows that even before the onset of the COVID-19 public health and economic crisis, millions of workers were struggling to afford their homes.
Research Finds Positive Outcomes for Residents in RAD Converted Properties
In a recent issue of Health Affairs focusing on investments in social determinants of health, a new study examined how renovations of a property in Queens, NY that converted through RAD may improve the health of public housing residents.
HUD released the full report, “Examining the Effects of the Rental Assistance Demonstration (RAD) on Children Living in Public Housing in Fresno, California,” which assessed outcomes and the well-being of children living in developments that have undergone rehab and conversion under RAD.
DC Council Votes to Extend Rent Control, Increases Affordable Housing Funds
The DC Council voted to approve the fiscal year 2021 budget, which includes a ten-year extension of DC’s rent control program and $9 million in additional funding for the Housing Production Trust Fund.
Connecticut Extends COVID-19 Financial Relief Available for Multifamily Borrowers through End of Year
The Connecticut Housing Finance Agency (CHFA) extended the COVID-19 multifamily financial relief period through December 31, 2020. Any mortgagor of a multifamily rental housing development in CHFA’s portfolio experiencing financial distress due to COVID-19, beyond the financial ability of the mortgagor to correct or mitigate, may contact CHFA to request its assistance. For more information, […]