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Property Compliance News Briefs - January 2013

The U.S. Department of Housing and Urban Development (HUD) posted a notice in the Nov. 30 Federal Register advising the public of HUD multifamily housing regulations and requirements that were waived in response to Hurricane Sandy. Effective Nov. 26, those who own HUD project-based Section 8 properties in areas declared by the president to be a Hurricane Sandy federal disaster area can receive vacancy claims in the amount of 80 percent of the contract rent for up to 60 days, from December 2012 to January 2013, by writing to the multifamily hub director for the appropriate disaster area. To receive vacancy claims for both months, the property owner must write a separate request for each month. Owners who have business interruption insurance must choose between receiving the insurance payments or the vacancy claims from HUD for the same time for the same unit. Those with residents under a project-based Section 8 contract whose units were rendered uninhabitable can temporarily lease an inhabitable unit in another building under uniform physical condition standards. The owner can sign a temporary release and begin to voucher for the contract rent until the original unit has been restored. The notice does not apply to supplemental rent or rental assistance programs and regulations for November housing assistance payments remain in effect. Read the notice at www.hudresourcecenter.com.

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In another Federal Register notice on Nov. 30, HUD issued regulatory and administrative waivers for Public and Indian Housing (PIH) programs to help with relief efforts in Hurricane Sandy disaster areas. Entities that administer PIH programs, such as public housing agencies (PHAs), Indian and tribally designated housing entities (TDHEs) and local/tribal governments located in designated Hurricane Sandy disaster areas may defer compliance with the regulations listed in the notice for an initial period of 12 months. PIH program administrations not located in disaster areas but that are assisting with Hurricane Sandy recovery efforts may request compliance deferral as well. Provisions include extension of deadline for obligation and expenditure of capital funds, waiver of HUD’s Indian Community Development Block Grant (ICDBG) 50 percent down payment assistance limitation for low- and moderate-income homebuyers and waiver of Indian Housing Plan (IHP) submission deadline by three months. These and other provisions are detailed in the notice, which can be found at www.hudresourcecenter.com.

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The Texas Department of Housing and Community Affairs (TDHCA) compliance division noted an error in the 2012 project income and rent tool specifically for the city of La Feria. Projects located in La Feria that received housing tax credits or exchange funds may now use the 2012 national non-metro income limits. No other changes were made to the 2012 income and rent tool, which identifies maximum income and rent limits for TDHCA-administered properties participating in the low-income housing tax credit, tax-exempt bond, HOME, Neighborhood Stabilization and housing trust fund rental development programs. For more information and the updated income and rent tool, visit www.tdhca.state.tx.us.

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The Kentucky Housing Corporation (KHC) announced a new partnership with RentLinx that will add benefits to its KyRents service, a website that helps Kentucky families find affordable rental housing. Property owners can list rental housing on the site and renters can search for properties. Both services are free and while the site was set up primarily for affordable housing, there are no rent or income limitations to use the service. As a result of KHC’s partnership with RentLinx, properties listed on KyRents will also appear on rental-listing sites such as Zillow, Show Me the Rent and Craigslist Helper. Property owners and managers who previously had listings on KyHousing must create an account with RentLinx and add it to that system.

Journal Category:

Property Compliance

Authors:

Novogradac

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