HUD

CohnReznick, Nixon Peabody, and the Pennsylvania Housing Finance Agency present the webinar “Utilizing 4% Credits in RAD Transactions” on Thursday, September 26 from 10:00 am-11:00 am EST. Presenters John Mackey (CPA, Partner CohnReznick), Susan Belles (Manager of Loan Programs, Pennsylvania Housing Finance Agency), and Michael Reardon (Partner, Affordable Housing Nixon Peabody LLP) will share their practical experience and insights in helping public housing authorities finance RAD conversions, rehabilitation, and new construction projects by integrating 4% tax-exempt bonds.

HUD recently released Notice H 2013-27 to all Multifamily Hub Directors announcing the annual base city High Cost Percentage (HCP) and High Cost Area revisions for 2013.

HUD has published its quarterly notice of all regulatory waivers that the Department has approved for the Office of Community Planning and Development, the Office of Housing ““ Federal Housing Administration (FHA), and the Office of Public and Indian Housing.

HUD recently published a Notice in the Federal Register establishing operating cost adjustment factors (OCAFs) for Section 8 Housing Assistance Payment (HAP) contract renewals.

The U.S. House of Representatives House Financial Services Oversight and Investigations Subcommittee recently held a hearing about reducing waste, fraud, and abuse at HUD.

HUD’s Office of Multifamily Housing recently published Notice H 2013-25 establishing updated procedures for the optional continuation of Interest Reduction Payment (IRP) assistance when projects assisted under Section 236 are refinanced.

HUD submitted a notice in the Federal Register requesting comments on technical processing requirements for multifamily project mortgage insurance.

HUD recently released the final rule (24 CFR Part 891) in the Federal Register governing the use of funding for Section 202 Supportive Housing for the Elderly Program (Section 202) and the Section 811 Supportive Housing for Persons with Disabilities Program (Section 811) to streamline the requirements applicable to Section 202 and Section 811 mixed-finance developments.

President Obama’s Hurricane Sandy Rebuilding Task Force, chaired by HUD Secretary Shaun Donovan, recently released a rebuilding strategy to serve as a model for communities across the nation facing greater risks from extreme weather and to continue helping the Sandy-affected region rebuild.

HUD recently released Notice H 2013-23 to revise the financial reporting requirements for small multifamily housing projects. This Notice, which comes as a part of the White House’s Rental Policy Working Group’s (RPWG) changes to auditing standards and requirements, would relieve owners of small multifamily projects of submitting audited financial statements.

The U.S. Department of Agriculture (USDA) has announced that Tammye Treviño, who most recently served as Administrator of the Rural Housing Service (RHS), has left the agency to become Regional Director of the Department of Housing and Urban Development’s (HUD’s) Region VI, based in Texas.

A recent report conducted by Rapoza Associates entitled “The Low-Income Housing Tax Credit: Overcoming Barriers to Affordable Housing in Rural America” examines the importance of the Low-Income Housing Tax Credit (LIHTC) in the developing and preserving affordable housing in rural communities.