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Senators Urge FHFA to Fund Affordable Housing

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.

HUD Requests Comments on Public Housing Renewable Energy Capacity Baseline

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.  

HUD Extends Multifamily Submission Deadline

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.

Appropriators Release Fiscal Year 2014 Budget Bill

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.