The Federal Housing Administration will offer an incentive for borrowers who rehabilitate homes in opportunity zones, U.S. Department of Housing and Urban Development Secretary Ben Carson announced today. Starting Dec.
Rep. Maxine Waters, D-Calif., introduced legislation to provide $70 billion to address the capital needs backlog for public housing and another $32.1 billion for investments in affordable housing. The Housing is Infrastructure Act of 2019 (H.R.
Rep Ilhan Omar, D-Minn., Wednesday introduced legislation to authorize construction of 12 million new public housing and permanently affordable private rental units. The Homes for All Act of 2019 would invest $1 trillion over 10 years and would make public housing operating and capital spending mandatory in future budgets.
The U.S. Department of Housing and Urban Development will publish in Friday’s Federal Register a notice establishing operating cost adjustment factors (OCAFs) for project-based assistance Section 8 contracts with an anniversary date of Feb. 11, 2020, or later. OCAFs are used to adjust Section 8 rents renewed under Section 515 or Section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997.
Democratic presidential candidate Joe Biden today released a plan to invest $1.3 trillion in infrastructure over 10 years, including permanence for the new markets tax credit (NMTC) incentive and a restoration of the renewable energy investment tax credit (ITC). Biden, a former U.S.
The U.S. Department of Housing and Urban Development (HUD) today released a frequently asked questions document explaining how certain public housing conversions in opportunity zones under the Rental Assistance Demonstration program are eligible for increased contract rents.
The U.S. Department of Housing and Urban Development (HUD) will publish in Monday’s Federal Register a notice seeking comment on its collection of information for the Public Housing Capital Fund program.
Sen. Cory Booker, D-N.J., and Rep. James Clyburn, D-S.C., introduced companion legislation this week that would create a refundable tax credit for rent-burdened taxpayers and would require states that receive major federal grants to create an inclusive zoning strategy. The Housing, Opportunity, Mobility and Equality (HOME) Act, S. 2684 and H.R.
The U.S. Department of Housing and Urban Development’s (HUD’s) Office of Policy Development and Research today published its final report, Evaluation of HUD’s Rental Assistance Demonstration (RAD), a 239-page document that discusses the post-conversion experience with RAD, the physical condition of properties, how renovated properties perform financially and the effect on tenants.
The U.S. Department of Housing and Urban Development (HUD) today announced that the Real Estate Assessment Center will not adopt the Accounting Standards Update 2016-18 on restricted cash in its financial templates. The decision creates a difference in how financial statements are presented under generally accepted accounting principles and in HUD-based financial statements.
The U.S. Department of Housing and Urban Development released the list of difficult development areas (DDAs) and qualified census tracts (QCTs) for 2020 for the low-income housing tax credit (LIHTC). DDAs and QCTs are eligible for as much as a 30 percent basis boost while receiving the LIHTC. The DDAs and QCTs are effective for allocations of LIHTCs after Dec.
The U.S. Department of Housing and Urban Development (HUD) today announced a combined $112 million in funding to expand the supply of permanent affordable housing for very-low-income people with disabilities, including a program with preference points for developments in opportunity zones (OZs).
The U.S. Department of Housing and Urban Development (HUD) will publish in Thursday’s Federal Register a notice announcing the posting of the fourth revision to the Rental Assistance Demonstration (RAD) notice and seeking public comment. The revision includes changes to the first component (public housing conversions) and second component (six other HUD programs) under RAD.
The U.S. Department of Housing and Urban Development (HUD) will publish a notice in Thursday’s Federal Register seeking public comment on a proposed opportunity zones (OZ) certification form. The form will be used to gather data for use in determining preference points in certain competitive federal grants and technical assistance applications.
The U.S. Department of Housing and Urban Development today released its contingency plan for a possible federal government shutdown. The plan lists how many employees would be retained under the plan and what they would do. The plan dictates that monthly subsidy programs such as the housing choice voucher program, public housing operating subsidies and multifamily assistance contracts continue to operate as long as they have funding.
The U.S. Department of Housing and Urban Development (HUD) will publish a notice in the Federal Register Wednesday establishing an expedited process for the review of requests for relief from HUD requirements for public housing agencies (PHAs) in counties included in presidentially declared major disaster declarations.
The U.S. Department of Housing and Urban Development (HUD) today issued H Notice 2019-10 on incentives for Federal Housing Administration (FHA) mortgage insurance for properties located in opportunity zones.
The U.S. Department of Housing and Urban Development (HUD) published this week in the Federal Register a proposed rule for the Housing Opportunity Through Modernization Act (HOTMA) of 2016. The proposed rule affects the United States Housing Act of 1937, including changes to income reviews for public housing and HUD’s Section 8 program, as well as maximum limits on assets allowed for families in public housing and in Section 8-assisted housing.
The U.S. Department of Housing and Urban Development (HUD) today awarded more than $5 million to four communities through the Choice Neighborhoods program. The cities of Huntsville, Ala.; Omaha, Neb.; Rome, Ga.; and Trenton, N.J.; in partnership with their city housing authorities, received the grants. The grants will help local leaders draft comprehensive homegrown plans to revitalize and transform neighborhoods.
The Federal Housing Finance Agency (FHFA) announced new multifamily loan purchase caps of $100 million each for Fannie Mae and Freddie Mac from the fourth quarter of 2019 to the fourth quarter of 2020. The new caps apply to all multifamily business with no exclusions. The FHFA also directs at least 37.5 percent of Fannie Mae and Freddie Mac multifamily business to mission-driven affordable housing.
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