WASHINGTON– Mar. 4, 2014
In its proposed budget for fiscal year (FY) 2015, the Obama administration provides $46.7 billion for U.S. Department of Housing and Urban Development (HUD) programs, which is $1.2 billion above the 2014 enacted level. The proposal includes $1 billion to capitalize the Housing Trust Fund to expand the supply of housing targeted to extremely low-income families.
WASHINGTON– Feb. 14, 2014
The U.S. Department of Housing and Urban Development (HUD) today released the fiscal year (FY) 2014 Annual Adjustment Factors (AAFs) for the Section 8 Housing Assistance Payments (HAP) program. The FY 2014 AAFs for adjustment of contract rents on assistance contract anniversaries go into effect on Feb. 18, 2014. AAFs are used to adjust contract rents for units during the initial term of the HAP contract and for all units that are in the Project-Based Certificate program. The annual adjustment factors are based on a formula using residential rent and utility cost changes from the most current annual Bureau of Labor Statistics Consumer Price Index survey. Owners who participate in HAP programs such as the New Construction, Substantial Rehabilitation and Moderate Rehabilitation programs, Loan Management and Property Disposition programs, and the Project-Based Certificate program must provide annual adjustments to monthly rentals for units covered by the contracts.
WASHINGTON– Jan. 27, 2014
A group of 33 senators last week sent a letter to Mel Watt, director of the Federal Housing Finance Agency (FHFA), urging him to lift the suspension of contributions to the National Housing Trust Fund (NHTF) and the Capital Magnet Fund (CMF). Initiated by Sens. Jack Reed, D-R.I.; Barbara Boxer, D-Calif.; Elizabeth Warren, D-Mass.; and Bernie Sanders, I-Vt., the letter argued that funding the NHTF and CMF would help alleviate the national affordable rental housing shortage. Contributions to the NHTF and CMF have been suspended since 2008, when Fannie Mae and Freddie Mac, the intended funding sources, were placed into conservatorship.
WASHINGTON– Jan. 20, 2014
The U.S. Department of Housing and Urban Development (HUD) today issued a notice requesting public comment that will establish a baseline assessment of the renewable energy capacity in HUD’s public housing and federally assisted multifamily housing portfolios. The assessment will support President Obama’s Climate Action Plan, which calls for the installation of 100 megawatts of renewable energy generation by 2020 at low-income housing tax credit, U.S. Department of Agriculture Rural Development, and public housing and multifamily-assisted properties. HUD will accept comments until March 24, 2014.
WASHINGTON– Jan. 16, 2014
The U.S. Department of Housing and Urban Development’s (HUD’s) Office of Housing has authorized a global 30-day extension on annual financial data submissions to all owners in the multifamily housing program with fiscal years that ended Dec. 31, 2013. Submissions by those owners are now due April 30, 2014. HUD offered the extension to allow owners and auditors additional time to adapt to the requirements of Housing Notice H 2013-23, which allowed certain profit-motivated and limited distribution owners to submit owner-certified financial statements instead of audited financial statements, and to the financial Assessment Subsystem - Multifamily Housing (FASSUB) release on Dec. 6, 2013, which implemented revisions to the HUD Consolidated Audit Guide, Handbook IG2000.04.
WASHINGTON– Jan. 14, 2014
Lawmakers yesterday released the fiscal year (FY) 2014 consolidated appropriations bill that will set discretionary funding for the federal government through Sept. 30. The bill meets the terms set by the Ryan-Murray budget agreement, providing $1.012 trillion for the operation of the federal government. According to a House Appropriations Committee summary, the Transportation, Housing and Urban Development (THUD) portion of the omnibus measure includes a total of $32.8 billion for the U.S. Department of Housing and Urban Development (HUD), a decrease of $687 million below the FY 2013 enacted level. The bill provides funding to continue assistance to 2.2 million families served by the Housing Choice Voucher program, $75 million to fully fund the president’s request for 10,000 new veterans’ housing vouchers, $126 million for housing for the disabled, $383.5 million for housing for the elderly, and just more than $3 billion for the Community Development Block Grant formula program. Additional detail can be found in the joint explanatory statement that outlines the spending levels in the THUD section of the bill.
WASHINGTON– Dec. 18, 2013
The U.S. Department of Housing and Urban Development (HUD) today released income limits for fiscal year (FY) 2014. These income limits are used to determine income eligibility for HUD’s assisted housing programs, including public housing, Section 8, Section 202 and Section 811. Income limits that are used to determine qualification levels and to set maximum rental rates for low-income housing tax credit (LIHTC) or tax-exempt bond projects, which HUD refers to as Multifamily Tax Subsidy Projects (MTSPs), are calculated and presented separately from the Section 8 income limits.
WASHINGTON– Dec. 10, 2013
The Senate today voted to confirm Rep. Mel Watt, D-N.C., to serve as director of the Federal Housing Finance Agency (FHFA). Rep. Watt was elected to the House of Representatives in 1992. He is a member of the House Financial Services Committee and serves on the subcommittees on Capital Markets and Government Sponsored Enterprises and Financial Institutions and Consumer Credit.
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.