HUD

HUD has published its Final Fair Market Rents for the Housing Choice Voucher Program for Small Area Fair Market Rent Demonstration Program Participants for FY-2013. Effective Date: The FMRs published in this notice are effective on October 1, 2012.

NH&RA Member firm Lancaster Pollard recently published an article “HUD Updates: Refinancing 202 Properties” which details the recent changes HUD has made to the Section 202 program.

The Furman Center for Real Estate and Urban Policy at New York University (NYU), has released the preliminary results of its analysis of the incomes, rent burdens, and economic diversity of tenants residing in LIHTC developments.

HUD released a new memo on October 26, 2012 pertaining to the due dates for closing mixed-finance transactions.

HUD recently released the 2011 American Housing Survey (AHS) data, summary data tables and a public use file. The AHS is the largest regular national housing sample survey in the United States and provides a comprehensive analysis of the characteristics of U.S. housing units and occupants.

Marie Head, the Deputy Assistant Secretary of Multifamily Housing Programs at HUD announced that Theodore (Ted) Toon has been appointed Acting Director of the Office of Multifamily Housing Development in the Office of Multifamily Housing Programs.

HUD has released a map-based app for iPhone and Android that will allow users to search Fair Market Rents (FMRs) and income limits by current location or by metropolitan area, county, zip code and/or address.

HUD recently released the Community Planning and Development (CPD) Income Eligibility Calculator, a new tool to help CPD grantees determine income eligibility and assistance amounts for beneficiaries of CPD programs.

The Internal Revenue Service (IRS) announced in Revenue Procedure 2012-41 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2013.

HUD has issued a notice establishing operating cost adjustment factors (OCAFs) for project based assistance contracts for eligible multifamily housing projects having an anniversary date on or after February 11, 2013.

HUD has published Comprehensive Housing Market Analyses for three new metropolitan areas, Wichita, Kansas; Oakland, California; and Salinas, California.

HUD recently published Housing Notice 2012-20, FHA Underwriting Instructions for Projects Converting Assistance under the Rental Assistance Demonstration.