HUD

HUD announced a series of clarifications that are effective immediately and will be reflected in a revised Multifamily Accelerated Processing (MAP) Guide. They focus on equal pay-in, bridge loans, identity of interest, subordinate debt, vacancy rates, and developer fees.

Representatives from more than 100 of the nation’s top affordable housing organizations gathered at the Ocean Reef Club in Key Largo, FL, last week for the 2015 NH&RA Annual Meeting. The event’s panel sessions created dialogues on what’s challenging – and exciting – affordable housing developers, illuminated the products and people who will shape the tax credit transactions in upcoming year, offered options to properties approaching year 15, and surveyed key changes to tax credit programs and legislation.

NH&RA’s first-ever Public Housing Joint Venture Symposium offered attendees a unique opportunity to gain insight into the progress and updates to key HUD programs. More than 100 developers, syndicators, lenders, and other members of the affordable housing community gathered to voice their concerns and questions to HUD representatives, as well as connect with peer organizations who are working on similar issues.

HUD recently published a notice in the Federal Register to announce the fiscal year (FY) 2015 Annual Adjustment Factors (AAFs).

HUD recently released an interim rule to govern the implementation of the Housing Trust Fund, including establishing the regulations that will govern the funds and the formula that will determine how funds are distributed.

On February 2, President Barack Obama introduced his fiscal year (FY) 2016 budget, requesting a total of $49.3 billion for Department of Housing and Urban Development (HUD) programs and proposing significant policy changes aimed at improving the Low-Income Housing Tax Credit (LIHTC) program and a proposal to modify and permanently extend the New Markets Tax Credit (NMTC) program.

The U.S. Department of Housing and Urban Development (HUD) released a notice in the Federal Register announcing its plan to implement changes made to the Rental Assistance Demonstration (RAD) program in the 2015 HUD Appropriations Act.

President Obama’s Better Buildings Challenge welcomed six new multifamily housing authority and owners. AHEAD, Inc (Littleton, NH), Gragg Cardona Partners (Washington, DC), Housing Authority of the Birmingham District (Birmingham, AL), Newark Housing Authority (Newark, NJ), The DeBruler Co. (Libertyville, IL), and Windsor Locks Housing Authority (Windsor Locks, CT) all announced they are joining the Challenge.

U.S. Department of Housing Urban Development Secretary Julián Castro and California Governor Jerry Brown announced a plan to expand financing for energy efficiency and solar energy in multifamily housing. Their plan includes unlocking property-assessed clean energy (PACE) financing for multifamily housing in California, establishing the California Master-Metered Multifamily Finance Pilot Project, and engaging philanthropy and the financial sector in supporting renewable energy in affordable housing.

Owners of Low Income Housing Tax Credit properties in Colorado now have the option of basing utility allowances on energy, water, and sewage consumption.

The United States Supreme Court recently heard oral arguments related to Texas Department of Housing and Community Development (TDHCA) vs. Inclusive Communities Project (ICP), a case that is examining whether or not disparate impact is “cognizable” under the Fair Housing Act.

HUD recently announced the FY 2014 Choice Neighborhood Planning Grant awardees. HUD is awarding $3.2 million in Choice Neighborhood Planning Grants.