WASHINGTON– Dec. 3, 2013
Fifty multifamily housing partners, representing roughly 200,000 units, have committed to cutting their energy use by 20 percent in 10 years. The U.S. Department of Housing and Urban Development (HUD) and the Department of Energy (DOE) are partnering with owners and public housing agencies through President Barack Obama’s Better Buildings Challenge. The partners, which include owners of market rate multifamily housing, public housing authorities, low-income housing tax credit (LIHTC) properties, and HUD-assisted multifamily properties, will boost energy efficiency with lighting improvements, heating and cooling system upgrades, rooftop solar installations and new financing for energy retrofits and green construction.
Tune in to Tax Credit Tuesday on Dec. 10 to learn more about the program.
WASHINGTON– Oct. 29, 2013
The U.S. Department of Housing and Urban Development (HUD) today issued a notice requesting public comment on the proposed changes made to the Federal Housing Administration’s (FHA’s) multifamily rental project closing documents. HUD will be accepting comments over the next 60 days, ending Dec. 27, 2013.
WASHINGTON, D.C.– Oct. 3, 2013
The U.S. Department of Housing and Urban Development (HUD) today released its fiscal year (FY) 2014 fair market rents (FMRs). The FY 2014 FMRs took effect on Oct. 1. HUD uses FMRs to determine payment standard amounts for the Housing Choice Voucher program, to determine initial renewal rents for some expiring project-based Section 8 contracts and to determine initial rents for housing assistance payments (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy (SRO) program.
WASHINGTON, D.C.– Sep. 17, 2013
The U.S. Department of Housing and Urban Development (HUD) yesterday issued a notice establishing the operating cost adjustment factors (OCAFs) for project-based assistance contracts for eligible multifamily housing projects having an anniversary date on or after Feb. 11, 2014. OCAFs are calculated as the sum of weighted average cost changes for wages, employee benefits, property taxes, insurance, supplies and equipment, fuel oil, electricity, natural gas, and water/sewer/trash. The factors are used to adjust Section 8 rents renewed under section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997. The 2014 OCAFs are effective Feb. 11, 2014.
WASHINGTON, D.C.– Aug. 5, 2013
Late last month several Senators responded to an invitation extended by Senate Finance Committee Chairman Max Baucus, D-Mont., and Ranking Member Orrin Hatch, R-Utah, to suggest legislative language or proposals for which tax expenditures and other provisions should be added back to a reformed tax code. Novogradac & Company has compiled links to copies of letters, or information about letters, containing lawmakers’ suggestions of what should be considered during the crafting of the committee’s tax reform bill.
We continue to update this list. Please send links to additional letters or related information to CPAs@novoco.com.
More information about the responses posted so far can be found on the Notes from Novogradac blog.
WASHINGTON, D.C.– Aug. 2, 2013
The U.S. Department of Housing and Urban Development (HUD) released the proposed fiscal year (FY) 2014 fair market rents (FMRs) for the Housing Choice Voucher (HCV) and Moderate Rehabilitation Single Room Occupancy programs. FMRs are used to determine the following: payment standards for the HCV program, initial renewal rents for some expiring project-based Section 8 contracts and initial rents for housing assistance payment contracts in the Moderate Rehabilitation Single Room Occupancy program. They also serve as rent ceilings in the HOME program and in the calculation of maximum award amounts for Continuum of Care grantees. The official notice is scheduled to be published in the August 5 Federal Register.