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Property Compliance News Briefs - August 2023

The U.S. Department of Housing and Urban Development (HUD) in June announced the pending publication in the Federal Register of the Final Inspections Standards Notice for the National Standards for the Physical Inspection of Real Estate (NSPIRE). The notice covers HUD-assisted housing and a separate release details inspectable items. NSPIRE strengthens HUD’s physical condition standards, which were formerly known as the Uniform Physical Condition Standard and Housing Quality Standards. The final standards include changes made after comments were received. HUD published the final NSPIRE rule in May and following this publication, HUD will publish notices on the final scoring and administrative notices. Both are expected this summer.

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Minnesota Housing in June updated its multifamily underwriting standards. The refreshed standards standardize the use of terminology, reorganize information and clarify terms. The standards are available via the organization’s Multifamily Consolidated Request for Proposals/Housing Tax Credits Funding Rounds webpage.

Journal Category:

Property Compliance

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Novogradac

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