Department of Housing and Urban Development News Briefs - April 2022
The U.S. Department of Housing and Urban Development (HUD) published a notice in the Feb. 16 Federal Register announcing 2022 annual adjustment factors (AAFs) for Section 8 housing assistance payments. AAFs are used by two categories of Section 8 programs: the new construction, substantial rehabilitation and moderate rehabilitation programs; and loan management and property disposition programs.
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The Federal Housing Finance Agency (FHFA) announced Feb. 9 that it is seeking input on its Draft Strategic Plan to set priorities for the coming years as the regulator of the Federal Home Loan Bank system and as the conservator of Fannie Mae and Freddie Mac. The plan includes objectives aimed at accomplishing three goals–securing the regulated entities’ safety and soundness, fostering housing finance markets that promote equitable access to affordable and sustainable housing, and responsibly stewarding FHFA’s infrastructure. Input on the plan is due by March 11 and should be submitted via the FHFA’s website.
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HUD released Feb. 4 its 2021 Annual Homeless Assessment Report Part 1 to Congress, reporting that more than 326,000 people experienced sheltered homelessness for at least a single night in 2021 in the United States. The figure marked an 8% decrease from 2020. The statistic includes those who have experienced homelessness in emergency shelters, transitional housing or other temporary settings. Two out of every five were people in families with children.
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Community Preservation Partners (CPP) announced Jan. 18 its acquisition of Smith-Beretania Apartments in Honolulu. The 164-apartment, 22-floor high-rise all receive subsidy under a Section 8 Housing Assistance Payments Contract. CPP worked with BlackSand Capital and Bank of Hawaii to finance the purchase. CPP plans a $10 million renovation of the property, with renovations to be financed in part through low-income housing tax credits (LIHTCs).
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The U.S. Department of Energy issued guidance effective Dec. 8, 2021, that expands client eligibility determination for the Weatherization Assistance Program (WAP). The WAP guidance expands the eligibility to include HUD means-tested program at or below 80% of the area median income. Guidance specific to multifamily homes focused on housing owned and operated by public housing agencies, privately owned multifamily buildings receiving project-based assistance and/or that house residents receiving tenant-based assistance, and U.S. Department of Agriculture and LIHTC properties.
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HUD’s Office of Multifamily Housing Programs worked in February to make residents aware of the right to access voter registration activities and to participate in the electoral process at HUD-assisted properties through multifamily owners/agents. HUD also reminds owners/agents that community spaces are permitted on an incidental basis for meetings, candidate forums and voter registration so long as all parties and organizations have access to the facility on an equal basis and are assessed equal rent or use charges. Resources are not for purposes that favor on candidate, party or political position over another.