News

USDA Proposed Rule on Rental Assistance, Asset Management for Multifamily Direct Loan Programs

September 23, 2020 | Federal / Agency News

The Rural Housing Service (RHS) at the U.S. Department of Agriculture (USDA) is proposing to amend its regulation to implement changes related to the development of a sustainable plan for the Rental Assistance (RA) program, including new RHS flexibilities in the managing of the RA distribution and integrate new asset management policies.

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CDFI Fund Publishes 2020 NMTC NOAA

September 23, 2020 | Federal / Agency News

The Community Development Financial Institutions (CDFI) Fund published a notice of allocation availability (NOAA), making $5 billion in New Markets Tax Credit (NMTC) allocation authority available for the 2020 NMTC allocation round. Applications are due November 16.

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Federal Reserve’s Economic Well-Being Update

September 23, 2020 | General News

In July, 77 percent of adults said they were doing at least OK financially, up from 72 percent in early April, and 75 percent in October 2019. This increase is likely due to some people returning to work, as well as the availability of assistance programs either from the government or from charitable organizations.

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NH&RA Endorses 2020 Census Deadline Extensions Act

September 16, 2020 | Federal / Agency News

NH&RA has joined more than 200 organizations in endorsing legislation introduced by Senators Brian Schatz (D-HI), Lisa Murkowski (R-AK) and Dan Sullivan (R-AK), which would extend two key statutory deadlines for the 2020 Census by four months and require the Census Bureau to continue field operations through October 31, 2020.

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IRS Issues Final Federal Historic Tax Credit Regulations

September 16, 2020 | Federal / Agency News, Historic Rehabilitation

The Internal Revenue Service (IRS) issued final regulations on the five-year period over which the Federal Historic Tax Credit (HTC) may be claimed, along with other special rules for investment credit property.

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Federal Reserve CRA Reform Meeting on Sept. 21

September 16, 2020 | Federal / Agency News

The Federal Reserve will hold an open board meeting at 10 a.m. ET on September 21 to discuss a potential Advance Notice of Proposed Rulemaking on Community Reinvestment Act (CRA) reform.

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PIH Clarifies Section 18 Eligible Use of Proceeds for PHAs

September 16, 2020 | Federal / Agency News

HUD recently released Notice PIH 2020-23 outlining the eligible uses of Section 18 Disposition or Section 22 Voluntary Conversion funds Public Housing Authorities (PHAs) gain from the sale, transfer, ground lease or disposition of their properties.

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HUD Releases RAD/PBRA Policy Quick Reference Guide

September 16, 2020 | Federal / Agency News

HUD released an updated Policy Quick Reference Guide outlining significant multifamily operational requirements to assist owners following Rental Assistance Demonstration (RAD) assistance conversions to Section 8 Project Based Rental Assistance (PBRA). Information provided in this guide does not apply to conversions of assistance pursuant to RAD Section 8 Project Based Vouchers.

Financing Affordable Housing in Rural Communities Training Session – Sept. 29

September 16, 2020 | Federal / Agency News

Join the Federal Deposit Insurance Corporation, Federal Reserve Bank of Chicago and Office of the Comptroller of the Currency for a training session on affordable housing development and finance in rural communities.

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Congress Returns with Looming Deadlines

September 9, 2020 | Federal / Agency News

The Senate reconvened yesterday, September 8 and the House of Representatives will be back in session next week. Both chambers have only a few working days to accomplish a myriad of tasks before they are set to adjourn before the elections: The House will adjourn on October 2 and the Senate will adjourn on October 9.

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