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Department of Housing and Urban Development News Briefs - May 2021

The U.S. Department of Housing and Urban Development (HUD) posted income limits April 1 to determine eligibility for HUD-assisted programs, as well as eligibility for low-income housing tax credit (LIHTC) and tax-exempt bond properties for fiscal year 2021. The limits were effective April 1. HUD publishes income limits for public housing, Section 8, Section 221(d)(3) and Section 236 properties. HUD also publishes Multifamily Tax Subsidy Projects (MTSP) income limits to determine eligibility for the LIHTC and tax-exempt bond properties. The FY 2021 national median income is $79,900, a 1.783% increase over 2020. Among the 4,766 counties for which HUD publishes limits, 65% will see an increase, 32% have a decrease and 3% have no change. The average change is an increase of 1.04%. In the nation’s most-populous state, California, the non-metro rate decreased by 1.41%, so 28 of the state’s 58 counties will see a decrease.

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The U.S. Senate March 10 confirmed Rep. Marcia Fudge, D-Ohio, as the 18th secretary of HUD. Fudge, who was in her seventh term in the House of Representatives, becomes the first Black woman to hold the position since Patricia Harris was HUD secretary in 1980 and 1981. The vote to confirm Fudge was 66-34.

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HUD granted an extension March 30 of the deadline for certain financial reports for owners of multifamily housing projects and residential care facilities due to the COVID-19 pandemic. Year-end reports that were due from Oct. 1, 2020, to June 30, 2021, are now due June 30. Entities with a fiscal year-end after March 31 still must submit their annual financial information no later than 90 days after the end of their fiscal year.

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The Office of Management and Budget issued a memorandum March 19 that includes a six-month extension for single-audit submissions to the Federal Audit Clearinghouse for recipients of federal financial assistance who are subject to single audit requirements. The extension allows such entities to delay submission of the single audit reporting package up to six months beyond the normal due date, typically nine months after the fiscal year-end. Entities affected include certain nonprofit owners of properties receiving assistance from the HUD and public housing authorities.

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HUD published a notice in the April 2 Federal Register that it is withdrawing a previous proposed rule to prohibit financial assistance for public housing and other assisted housing programs to most non-citizen residents. HUD identified the proposed rule as inconsistent with two executive orders and will formally withdraw the rule.

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HUD announced the allocation April 6 of $689.6 million through the national Housing Trust Fund (HTF). The HTF is capitalized through contributions by Fannie Mae and Freddie Mac. This year’s allocation more than doubles last year’s $322.6 million contribution. State allocations range from $126.6 million to California to the small-state minimum of $3.1 million to 10 states plus the District of Columbia.

Journal Category:

Department of Housing and Urban Development

Authors:

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