Department of Housing and Urban Development News Briefs - December 2012

Saturday, December 1, 2012

In late October, U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan issued announcements of foreclosure protection and other disaster aid for Hurricane Sandy victims in New York, New Jersey and Connecticut. HUD offered each state the ability to reallocate existing federal resources toward disaster relief, a 90-day moratorium on foreclosures and forbearance on foreclosures of home mortgages insured by the Federal Housing Administration (FHA), mortgage insurance for disaster victims who may need to rebuild or purchase another home, insurance for mortgages and home rehabilitation, and Section 108 loan guarantee assistance for state and local governments. The announcements came immediately after President Barack Obama issued a disaster declaration for several counties in each state. More details are available at www.hud.gov.

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HUD has launched a quick access resource for information on HUD’s public and Indian housing program. The Public and Indian Housing One-Stop Tool (POST) is available online and contains everything from HUD’s Housing Choice Voucher program guidebook, and public housing authority directories to webcasts, a list of training opportunities and a glossary of HUD acronyms. Access POST from www.hud.gov.

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HUD launched a new community planning and development (CPD) tool to help grantees determine income eligibility and assistance amounts for beneficiaries of several CPD programs. Users must enter requested data into the calculator and it will automatically generate a summary of results. The calculator works for the following HUD CPD programs: Brownfield Economic Development Initiative (BEDI), Community Development Block Grant program (CDBG), CDBG Disaster Recovery Assistance, HOME Investment Partnerships program (HOME), Housing Opportunities for Persons with AIDS (HOPWA), Neighborhood Stabilization program (NSP), Section 108 Loan Guarantee Program and Self-Help Homeownership Opportunity program (SHOP). The calculator only determines income eligibility. It does not replace the need for a grantee to collect, verify and file local policies, procedures and third party source documents (when required). HUD scheduled two webinars on how to use the new tool. More information is available at www.onecpd.info.

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County will be demolished to make way for Hampton Village Apartments, a multifamily affordable housing property. Nonprofit developer Carrfour Supportive Housing acquired the Hampton Village property and two similar Miami housing complexes with $17 million from HUD’s Neighborhood Stabilization Program. Carrfour’s partners in the development are Landmark Companies and Special Asset Support Services Inc. The $20 million, 100-unit Hampton Village will house residents earning 60 percent or less of the area median income. Construction is expected to create 100 jobs and completion is scheduled for late 2013.

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Rehabilitation of the Cow Bay Apartments in Port Washington, N.Y. was recently completed. The 88-unit green affordable housing complex originally opened in 1971 with financing from HUD. Renovations for the seven two-story garden apartment buildings include three new energy efficient boilers, new roofs and reinforcement of a retaining wall surrounding the complex. Window and door insulation was upgraded and a new laundry room was installed. Cow Bay Apartments will remain affordable with the help of a new 20-year housing assistance payment (HAP) contract from HUD, which was insured by the State of New York Mortgage Agency. The $7.8 million rehabilitation included a $10 million construction loan from the Community Preservation Corporation supported by the New York State common retirement fund. The development also received a $270,000 grant from Nassau County, which it paid off when the construction loan converted to permanent financing. Other partners include New York State Homes and Community Renewal, Bluestone Developers Inc. and Apollon Group.

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HUD in October issued a request for comments from HOME Investment Partnerships program participating jurisdictions (PJs). HUD uses information collected through its integrated disbursement and information system to determine compliance with the statutory 24-month commitment deadline and the regulatory five-year expenditure deadline. The data is used to compile annual reports to Congress and to make program management decisions about the success of program participants in achieving the HOME program’s statutory objectives. HUD will accept comments on the information collection until Dec. 28. A copy of the notice is available at www.hudresourcecenter.com.

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HUD issued the Office of Public Housing Investments’ schedule for processing mixed-finance projects intending to close by the end of calendar year 2012. All those who intend to close their mixed-finance projects by Dec. 31 needed to submit a rental term sheet and mixed-finance proposal by Nov. 7. Those who already submitted documents but were asked to revise them still needed to meet the Nov. 7 deadline. Otherwise, the proposals were deemed incomplete and there is no guarantee that they will be approved this year. Final, unexecuted evidentiary materials needed to be submitted by Nov. 16. Find more information at www.hud.gov.