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Department of Housing and Urban Development News Briefs - September 2016

The U.S. Department of Housing and Urban Development (HUD) released a proposed rule July 6 for the Housing Choice Voucher (HCV) program’s new administrative fee formula. The rule proposes a new methodology for determining the amount of funding a public housing agency (PHA) will receive for administering the HCV program. HUD also proposes to adopt the recommended formula with modifications based largely on comments received in response to a June 26, 2015, notice that solicited comment on the study. The rule proposes an ongoing administrative fee for a PHA that would be calculated based on program size, wage rates, benefit load, percentage of households with earned income, new admissions rate and percentage of assisted households that live a significant distance from the PHA’s headquarters. Comments are due Oct. 4.

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Love Funding, a provider of Federal Housing Administration (FHA) multifamily, affordable and health care financing, announced July 11 the closing of a $6.6 million bridge loan for the construction of Shadow Valley Assisted Living and Memory Care in Ogden, Utah. The center will be developed by Giza Development and will offer 62 beds. Conventional bridge financing enabled Giza Development to start construction quickly and avoid having to pay Davis Bacon prevailing wages. Giza Development plans to wait the required three years of seasoning before taking out the debt with a permanent loan obtained through the HUD 232/223(f) loan insurance program.

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HUD, the U.S. Department of Veterans Affairs (VA) and the U.S. Interagency Council on Homelessness announced Aug. 1 that the number of veterans experiencing homelessness in the United States has been cut nearly in half since 2010. The number was revealed in HUD’s annual point-in-time (PIT) estimate of veteran homeless in the United States. Communities throughout the U.S. reported that fewer than 40,000 veterans were experiencing homelessness on a given night in January 2016, and that just over 13,000 unsheltered homeless veterans living on the streets. This focus was part of Michelle Obama’s Mayors Challenge to End Veteran Homelessness initiative. 

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On June 16, the U.S. Department of Housing and Urban Development (HUD) and the National Environmental Health Association (NEHA) announced the winners of the HUD Secretary’s Award for Healthy Homes. Model programs in Massachusetts, Washington and California were recognized for their excellence in promoting resident health through housing interventions. The winners were Boston Residential Investigation on Green and Healthy Transitions (BRIGHT) in Boston, for healthy homes innovation and achievement in public housing/multifamily supported housing; Yesler Terrace Breathe Easy Program in Seattle, for healthy homes innovation and achievement in cross sector coordination among health, environment and housing; and Regional Asthma Management Program in Oakland, Calif., for healthy homes innovation and achievement in public policy. 

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Julián Castro, HUD secretary, announced the award June 28 of $8 million for 10 severely distressed neighborhoods throughout the United States. The funding is provided through HUD’s Choice Neighborhoods Initiative and is expected to stimulate affordable housing and economic development. Grant amounts ranged from $500,000 to $1.5 million. This action is part of the Obama administration’s effort to build Ladders of Opportunity to the middle class.  

Journal Category:

Department of Housing and Urban Development

Authors:

Novogradac

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