Sign Up For Novogradac Industry Alert Emails

HUD PROPOSES HOME PROGRAM RULE CHANGES

Friday, November 4, 2011 - 7:00AM

The U.S. Department of Housing and Urban Development (HUD) today proposed new regulations to Congress that it says will improve the HOME Investment Partnerships program. HUD says the proposed regulations would require state and local governments to adopt policies and procedures to improve their oversight of HOME-funded projects; require agencies to assess a developer’s capacity and a project’s long-term viability before committing HOME funds; require more frequent reporting by state and local participating jurisdictions; and establish specific timeframes for taking corrective actions against participating jurisdictions that fail to complete projects they started. HUD is expected to publish the proposed changes and related details in the Federal Register shortly.

Learn more about Novogradac's expertise and many services