HUD

FAQs pertaining to the implementation of H 2015-04 (June 22, 2015), which governs methodologies for completing multifamily housing utility allowance analysis. Download

HUD is trying to reduce the time it takes to approve underwriters for Multifamily Accelerated Processing (MAP) and Section 232 lenders. Instead of getting written approval for each underwriter, MAP and Section 232 lenders will now designate a qualified individual as “Chief Underwriter,” and work with this person to designate and approve MAP and/or Section 232 underwriters on staff.

Love Funding announced the closing of a $14.3 million loan to rehabilitate Thorpe Village, a senior apartment community in Sparkill, New York. The property consists of 200 age-restricted units, of which 198 are covered by a Section 8 contract.

HUD has published new HOME Investment Partnerships Program (HOME) Frequently Asked Questions (FAQs) and a revised National Housing Trust Fund (HTF) Program FAQ.

HUD proposed a new way to conduct previous participation reviews of prospective multifamily housing and healthcare program participants. The recently proposed rule aims to clarify and simplify the process by which HUD reviews the previous participation of participants.

The HUD Office of Multifamily Southeast Region is now operating under HUD’s new model of consolidated, regional offices. The Regional Center in Atlanta and Regional Satellite Office in Jacksonville hosted kick-off events in celebration of the launch.

HUD released a new Section 8 Renewal Policy Guide containing comprehensive guidance for renewing expiring Section 8 Housing Assistance Payment (HAP) contracts. The guide includes some policy changes, which will be effective for all renewal or amend rent packages received by the Department after November 5, 2015.

Nancie-Ann Bodell has been selected to permanently lead the Department of Housing and Urban Development Office of Asset Management and Portfolio Oversight (OAMPO). Nancie-Ann has spent more than 25 years in the Office of Multifamily Housing at HUD.

USA Properties Fund will begin construction on a much-needed affordable senior community in Aliso Viejo, a city in southern Orange County. The 202-apartment community will offer affordable housing to seniors 55 years and older with household incomes between 50% and 60% of the area median income for the county.

Lancaster Pollard worked with the owners of a Sec. 202 affordable seniors housing property in Oakland, CA, that needed significant rehabilitation. Lancaster Pollard ultimately advised on the sale of Northgate Terrace for $27.5 million to WNC, which will perform a complete renovation of the existing property at a total cost of $47 million, including the acquisition and renovation.

A report from the Government Accountability Office suggests that a joint administration between the IRS and the Department of Housing and Urban Development (HUD) would benefit the Low-Income Housing Tax Credit Program.

The Obama Administration announced a new solar initiative to increase access to solar energy, including low- and moderate- income communities, and expand opportunities join the solar workforce. Among several key components, the initiative aims to install 300 megawatts of renewable energy in federally-subsidized housing.