News
Update: HUD Solicits Comments on Updated Section 8 Renewal Policy Guide
HUD released an updated Section 8 Renewal Policy Guide and Summary of Changes on May 18, 2012 and has since issued a request for comments on the updated guide in the Federal Register. The Section 8 Renewal Policy Guide governs how expiring Section 8 project-based assistance contracts are renewed, an essential component to preserving low income rental housing affordability and availability. Comments on the updated guide are due to HUD by November 13, 2012
GAO Releases Study on Increasing Collaboration Among Federal Housing Programs
The U.S. Government Accountability Office (GAO) recently released a study that assesses the efficiency and cost effectiveness of multiple federal housing programs with similar goals, products and often parallel delivery systems. GAO proposes that there are opportunities to further increase collaboration and alignment among the agencies that administer these programs.
Texas Approves Drafts of Uniform Multifamily Rule, QAP, & Multifamily Bond Rule
The Governing Board of the Texas Department of Housing and Community Affairs has approved drafts of the 2013 Uniform Multifamily Rule, Qualified Allocation Plan, and Multifamily Housing Revenue Bond Rule.
Alabama to Host Public Hearing on 2013 HOME Action Plan and QAP
On September 13th, the Alabama Housing Finance Authority (AHFA) Board of Directors approved drafts of its 2013 HOME Investment Partnerships Program Action Plan and the LIHTC Qualified Allocation Plan. AHFA will be hosting a public hearing on Tuesday, October 2, 2012
Kentucky to Host 2012 Housing Credit Compliance Training
The Kentucky Housing Corporation along with TheoPRO Compliance & Consulting, Inc. will be hosting a Low Income Housing Tax Credit Training Thursday and Friday October 4-5, 2012 in the Kentucky Transportation Cabinet Auditorium (Room C105), 200 Mero Street, Frankfort, KY.
Massachusetts Announces MRVP Supportive Housing Initiative RFR
The Massachusetts Department of Housing and Community Development (DHCD) has issued a Request for Responses (RFR) for 150 housing vouchers from the Massachusetts Rental Voucher program (MRVP) to serve homeless families.
HUD Announces “˜Partners in Housing’ Advanced Preservation Training Series
HUD has announced the creation of the Partners in Housing Advanced Preservation Training series for multifamily Owners and senior level Property Management company staff. The HUD workshops will focus on advanced approaches to preserving affordable multifamily properties and builds upon the Basic “Partners in Housing” course.
OMB Releases Report on Sequestration Effects
The Office of Management and Budget (OMB) on behalf of the White House recently released a report which details the potential effects sequestration, or across-the-board cuts to the budget, could have on both defense and non-defense programs. In August 2011, both the U.S. House of Representatives and Senate voted for the threat of sequestration as a mechanism to force Congress to act on reducing the deficit by $1.2 trillion as required by the Budget Control Act of 2011 (BCA).
UPDATE: House Approves Extension of EB-5 Program
Both the U.S. House of Representatives and Senate have passed S. 3245, which extends the EB”“5 Regional Center program for three years. EB-5 Regional Centers identify businesses and development opportunities that meet a community’s investment needs and allow foreign investors to channel funds to those opportunities.
HUD Issues Updated Partial Payment of Claims Guidance
HUD has released a revised Chapter 14 of the Asset Management and Project Servicing handbook, which is the primary tool used by Field Office Loan Management multifamily staff in carrying out asset management and loan servicing responsibilities in monitoring and assisting owners/managing agents to maintain projects in good physical and financial condition.
House Passes FHA Reform Measure
The U.S. House of Representatives recently passed by a vote of 402-7 the FHA Emergency Fiscal Solvency Act of 2012 (HR 4264), a measure which would help shore up the fiscal solvency of the Federal Housing Administration’s (FHA) mortgage insurance programs. The bill, introduced by Judy Biggert (R-IL), Chair of the House Insurance, Housing and Community Opportunity Subcommittee, places a minimum on annual FHA mortgage insurance premiums and enhances FHA risk and enforcement measures to protect against fraud and abuse, among other provisions.
HUD Publishes 2nd Quarter Regulatory Waiver Requests
HUD has published its quarterly notice of all regulatory waivers that the Department has approved for the Office of Community Planning and Development, the Office of Housing ““ Federal Housing Administration (FHA), and the Office of Public and Indian Housing (PIH).