HUD

HUD recently posted Fiscal Year 2017 Fair-Market Rents (FMR) to the huduser.gov site.

If signed into law, the bill would strengthen the project based rental assistance program, reduce the burden of public housing and PBRA unit inspections, and change the way tenant incomes are calculated, reviewed, and addressed.

In late March, HUD’s Office of Recapitalization hosted a listening session to receive feedback on how they can facilitate more efficient closings of RAD transactions. The session has resulted in changes regarding the HAP effective date and information regarding initial year funding.

HUD recently released FY2015-2016 Planning Grant Award Information for the Choice Neighborhoods program. NH&RA is proud to announce that three of our members were included in the list of winners.

HUD has proposed using Small Area Fair Market Rents (FMRs) for the Housing Choice Voucher program, including project-based vouchers, in metropolitan areas where voucher use tends to be concentrated to specific neighborhoods or areas. Comments on the proposed rule are due by August 15.

The Government Accountability Office’s second report on LIHTC finds that the agencies that allocate state credits generally follow program requirements. However, approaches to QAP and LIHTC award criteria vary, which opens the door to problems for some agency practices.

The plan makes brief mention of “harnessing the abilities of non-profits and other cost-effective service providers,” but largely focuses on public housing, rental assistance, and work requirements for residents.

The Obama Administration named the final nine Promise Zones across the country. The initiative names increasing access to affordable housing as one of its key goals.

Multifamily HOME funded projects still in their affordability period are required to submit an Annual Rent Approval Form by July 8, 2016.

In September 2016, Alaska Housing Finance Corporation (AHFC) will announce the FY 2017 Notice of Funding Availability (NOFA) for its Greater Opportunity for Affordable Living (GOAL) Program. For eligibility to apply for GOAL Program funds, all applicants are required to comply with a sequential three (3) step application process. Applicants will NOT be eligible to apply for GOAL funding unless they first meet both deadlines for Steps (1) and (2).

The South Carolina State Housing Finance and Development Authority’s (SC Housing) Compliance Monitoring Department is hosting a workshop to provide an overview of compliance requirements for HOME and LIHTC/HOME developments.

The report provides a comprehensive accounting of the number and amounts received by each state from 2008 to 2013, but does not make any recommendations.