HUD

NH&RA was pleased to welcome over 200 industry professionals to our 2012 Fall Developers Forum. All conference materials including Power Point presentations, reports, memos and articles from the conference are available for download.

HUD has released its Third Quarter 2012 U.S. Housing Market Conditions which indicates that housing indicators for the third quarter of 2012 continue to portray a fragile, but steady, recovery in the housing market.

The Government Accountability Office (GAO) recently released a report entitled “Low-Income Housing Tax Credits: Agencies Implemented Changes Enacted in 2008, but Project Data Collection Could Be Improved” which examines the implementation of changes to the Low-Income Housing Tax Credit (LIHTC) program which occurred under the Housing and Economic Recovery Act (HERA) of 2008.

HUD recently issued an updated draft Low-Income Housing Tax Credit (LIHTC) Pilot Program Application Processing Guide. This informal guide is meant for lenders and HUD staff to use while underwriting loans for the Pilot Program, which aims to streamline FHA processing of mortgage insurance applications for projects with LIHTC equity.

The Center for Budget and Policy Priorities (CBPP) recently released a report detailing the implications that impending budget deficit reduction measures could have on housing and community development programs

HUD has published revised closeout requirements for the Neighborhood Stabilization Program (NSP). The revised requirements apply to closeout procedures for program income, land banks and long-term affordability obligations of grantees and certain recapture provisions.

HUD has released Notice H 2012-27 which clarifies portions of previously-issued Risk Mitigation HUD guidance concerning Project Capital Needs Assessment (PCNA) reports and requirements for sizing initial and annual contributions to Reserves for Replacements. The Notice indicates that the MAP Guide has been modified to implement risk mitigation measures and to align PCNA guidance for the multifamily insurance programs.

HUD has released Notice H 2012-25 which provides guidance on the circumstances under which HUD may consider amendments to Use Agreements for properties assisted under the Low-Income Housing Preservation and Resident Homeownership Act of 1990 (LIHPRHA). Congress enacted LIHPRHA in 1990 to prevent the loss of several hundred thousand FHA-insured affordable housing units and since then, HUD has overseen hundreds of properties.

HUD has announced that Margaret Salazar has been named Deputy Director of the Office of Affordable Housing Preservation (OAHP). Ted Toon, who previously held the position of Director of OAHP, is currently detailed as Acting Director of the Office of Multifamily Housing Development.

HUD has released information about resources and tools available to assist partners in dealing with the damage caused by Hurricane Sandy at HUD-assisted properties.

A new Senate bill introduced September 2012, S. 3538, would reduce administrative burdens and complexities for certain local public housing agencies (PHAs) that administer federal low-income housing programs. The purpose of the legislative measure is for PHAs to realize administrative savings, but the Center for Budget and Policy Priorities (CBPP) says the measure could present other, more harmful challenges.

HUD has published a list of workshop materials that were used at the Public and Indian Housing (PIH) Region IV Network Mixed Finance/Rental Assistance Demonstration (RAD) Workshop.