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.
Rep. Adam Schiff, D-Calif., introduced the Affordable Housing Incentives Act of 2019 (H.R. 4239), a bill to allow for non-recognition of gain on property sold to public housing agencies for use as affordable housing. Provisions of the legislation would apply to sales and transfers made after the enactment date of the bill.
Novogradac lowered its estimate of the increase in the national median income for 2020 from 4.37 percent to 3.97 percent, based on the Congressional Budget Office’s (CBO’s) updated 10-year budget and economic outlook released Aug. 21. The U.S. Department of Housing and Urban Development uses CBO’s estimate of the consumer price index in calculating income.
The U.S. Treasury Department and the U.S. Department of Housing and Urban Development (HUD) today released plans with recommendations for legislative and administrative reforms concerning housing finance reform, including continuing to proceed to end the conservatorship for government-sponsored entities (GSEs) Fannie Mae and Freddie Mac. The plans address the Federal Housing Administration (FHA) and Fannie Mae and Freddie Mac.
The U.S. Department of Housing and Urban Development (HUD) today published a revised notice that provides program instructions for the Rental Assistance Demonstration (RAD) program, including eligibility and selection criteria.
The U.S. Department of Housing and Urban Development (HUD) will publish in Friday’s Federal Register a notice of fair market rents (FMRs) for fiscal year 2020 and a response to public comments on a June notice announcing two method changes in the calculation of FMRs. The FMRs–which apply to the Housing Choice Voucher program, Moderate Rehabilitation Single Room Occupancy program and other HUD programs–are effective Oct.
The U.S. Department of Housing and Urban Development (HUD) will publish a notice in Wednesday’s Federal Register seeking feedback on its plan to implement a demonstration program for physical inspection of real estate. The National Standards of Physical Inspection of Real Estate program will seek 4,500 properties to test the standards and protocols for the demonstration program for up to two years. HUD will accept comments on the demonstration program through Oct.
The U.S. Department of Housing and Urban Development (HUD) will publish in Monday’s Federal Register a proposed rule to amend the interpretation of the Fair Housing Act’s (FHA’s) disparate impact standard.
The U.S. Senate voted 67-28 Thursday to pass a two-year, $2.7 trillion discretionary budget agreement, sending the legislation to President Donald Trump, who is expected to sign it. The budget deal, which was passed last week by the House of Representatives, would suspend the federal debt ceiling until July 31, 2021, and contains no provisions to extend expired or expiring tax provisions.
Sens. Brian Schatz, D-Hawaii, and Todd Young, R-Ind., today introduced legislation to permanently authorize the Community Development Block Grant–Disaster Recovery (CDBG-DR) program. The Senate version of the Reforming Disaster Recovery Act of 2019 would require a one-for-one replacement of public housing and other federally subsidized rental housing in the case of CDBG-DR funding after natural disasters.
The House of Representatives today passed a two-year, $2.7 trillion discretionary budget agreement by a 284-149 vote. The agreement would also suspend the federal debt ceiling until July 31, 2021. The budget deal would give defense programs a 3 percent increase from $647 billion in fiscal year 2019 to $666.5 billion in fiscal year 2020 and nondefense programs a 4 percent increase from $597 billion in fiscal year 2019 to $621.5 billion in fiscal year 2020. The fiscal year 2021 spending caps would be $671.5 billion for defense and $626.5 billion for nondefense.
Rep. Al Lawson, D-Fla., and 14 co-sponsors introduced legislation to strengthen enforcement of inspections in housing subsidized by the U.S. Department of Housing and Urban Development (HUD). A press release from Lawson’s office said that H.R. 3745, HUD Inspection Act of 2019, would create tougher standards for required physical conditions and provide HUD with greater enforcement authority.
The U.S Department of Housing and Urban Development’s (HUD’s) Office of Multifamily Housing issued a memorandum reminding owners and management agents of private HUD-assisted multifamily properties of existing guidance regarding obligations to residents.
The U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing published a new fourth chapter for its Housing Choice Voucher Guidebook as part of an ongoing, incremental update. The Payment Standards chapter includes updated information on small area fair market rents (SFMRs), including what a public housing agency should consider to determine whether to apply SAFMRs to project-based vouchers.
Legislation to permanently authorize and reform the Community Development Block Grant-Disaster Recovery (CDBG-DR) program was introduced Thursday in the House of Representatives. The Reforming Disaster Recovering Act of 2019 would require a one-for-one replacement of public housing and other federally subsidized rental housing in the case of CDBG-DR funding after natural disasters.
The U.S. Department of Housing and Urban Development (HUD) announced today that it will provide $150 million in grants for affordable housing for non-elderly people with disabilities. Funding for the Mainstream Housing Voucher Program will assist approximately 18,000 people gain affordable housing, according to a HUD news release. The grants will be awarded to eligible public housing agencies. Applications are due Sept. 5.
The percentage of cost-burdened renters dropped slightly, but there remains a significant gap in affordable housing, according to the State of the Nation’s Housing 2019 report issued by the Joint Center for Housing Studies at Harvard University. The annual report says that 1.5 million units of housing should be built each year, which is 260,000 units more than were built in 2018.
President Donald Trump today signed an executive order to establish a White House Council on eliminating Barriers to Affordable Housing Development. The group will consist of members from eight federal agencies and the chairman will be Ben Carson, secretary of the U.S. Department of Housing and Urban Development.
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