HUD

On July 2, 2013 HUD issued its “Notice of Senior Preservation Rental Assistance Contracts Award Process” (Notice), which specifies the process by which HUD will award Senior Preservation Assistance Contracts (SPRACs). The Notice also starts the application process, and solicits applications for a period of 60 days.

HUD recently announced that the Office of Multifamily Housing will launch a centralized processing model for the majority of Section 236 preservation activity through the Office of Affordable Housing Preservation (OAHP) in HUD Headquarters.

The Housing Authority of Baltimore City (HABC) requests qualifications from experienced low-income housing developers to partner with HABC in submitting an application to HUD for the Rental Demonstration Program (RAD). HABC intends to enter an agreement with one or more selected developer(s) selected under this RFQ to jointly redevelop one ore more public housing development(s) under the RAD program or by other means available to HABC under its Moving to Work (“MTW”) authority or otherwise.

HUD Secretary Sean Donovan today announced a major restructuring and reorganization of the Multifamily Programs within U.S. Department of Housing & Urban Development.

HUD has released several notices recently regarding sequestration and budget impacts on programs including FHA mortgage insurance firm commitments, homeless assistance grant programs, and more.

In a recent speech given at Georgetown University, President Obama recently unveiled his Climate Action Plan, which aims at reducing carbon pollution and tackling climate change. The report is meant to be a blueprint for achieving steady, responsible, national, and international action to slow the effects of climate change in order to achieve a cleaner, more stable environment. In the report, President Obama referenced several initiatives that would have an impact on the multifamily affordable housing community.

Senators Bob Corker (R-TN) and Mark Warner (D-VA) recently introduced the Housing Finance Reform and Taxpayer Protection Act of 2013 (S.1217), which would reform the secondary housing finance market by eliminating Fannie Mae and Freddie Mac and replacing the agencies with the Federal Mortgage Insurance Company (FMIC).

The Senate Appropriations Committee recently approved the FY 2014 spending allocations, also known as 302(b)s, for its 12 subcommittees , including the Transportation-HUD (T-HUD) and Agriculture-Rural Development Subcommittees. The Senate Budget Committee had set the overall FY 2014 discretionary spending cap, known as the 302(a), at $1.058 trillion, which is equal to the President’s FY 2014 budget request.

HUD recently released Notice H 2013-19 to extend and revise Notices H 2010-13, H 2011-4 and H 2011-35 concerning Loan Committees and all prior administrative guidance regarding Loan Committee policy and procedures.

The Office of Management and Budget (OMB) recently sent a letter to agency and department heads informing them that FY 2015 budget submissions should include reductions that bring the overall submission to a level that is 10 percent below the net discretionary FY 2015 total provided for the agency in the FY 2014 budget.

HUD recently released Notice H 2013-16 to notify owners of properties with a Section 515 Rural Rental Housing loan from the United States Department of Agriculture (USDA) and a Section 515/8 New Construction Housing Assistance Payments (515/8 HAP) contract from HUD that HUD is no longer requiring the submission of annual financial statements (AFS) for these properties.

HUD published a notice in the Federal Register to announce the inflation factors that will be used to adjust FY 2013 renewal funding for the Tenant-Based Rental Assistance voucher program or Housing Choice Voucher (HCV) program.