Recent News
The U.S. Department of Housing and Urban Development (HUD) today announced the formal execution of a $1.5 billion grant agreement–including $1 billion for housing–to help Puerto Rico recover from hurricanes Irma and Maria. The housing funds through the Community Development Block Grant–Disaster Recovery program include $10 million for rental assistance, specifically for properties that serve the elderly and other vulnerable households.
U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced that HUD’s Rental Assistance Demonstration (RAD) program has preserved 100,000 units. The RAD program provides public housing authorities with access to private investment to preserve public housing properties and address the backlog of deferred maintenance.
Novogradac estimates the U.S. median income will increase by more than 5 percent in 2019 and by nearly 4.4 percent in 2020, based on 2017 American Community Survey data released Thursday. Low-income housing tax credit (LIHTC) properties and U.S. Department of Housing and Urban Development Section 8 limits increases are capped at the greater of 5 percent or double the median-income change, meaning the estimated cap for 2019 will be more than 10 percent and the 2020 cap will be almost 8.8 percent.
Reps. Jeb Hensarling, R-Texas, and John Delaney, D-Md., last week released draft legislation that would wind down Fannie Mae and Freddie Mac over a five-year period and create a mortgage insurance program run through Ginnie Mae. Under the legislation, Ginnie Mae would leave the U.S. Department of Housing and Urban Development and become a stand-alone agency.
The U.S. Department of Housing and Urban Development (HUD) will publish in Wednesday’s Federal Register a notice establishing an expedited process to review requests for relief from HUD regulatory and administrative requirements for counties in presidentially declared major disaster declaration (MDD) areas during calendar year 2018.
Recent Updates
September 20, 2018 11:25am
September 19, 2018 11:06am
