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.
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.