All News

Monday, May 6, 2019

The Novogradac Rent & Income Limit Calculator© is updated in the beta version to include fiscal year (FY) 2019 rent and income limit data that was released by the U.S. Department of Housing and Urban Development on April 24.

Monday, April 29, 2019

Rep. Maxine Waters, D-Calif., released a draft of the Housing is Infrastructure Act of 2019, which would authorize more than $90 billion for affordable housing and related programs. The legislation would include $70 billion for the Public Housing Capital Fund, $10 billion for the Community Development Block Grant program, $5 billion for the Housing Trust Fund and $5 billion for a predisaster hazard mitigation program.

Wednesday, April 24, 2019

The U.S. Department of Housing and Urban Development (HUD) today released income limits for fiscal year (FY) 2019 to determine income eligibility for HUD-assisted programs. Those HUD programs include public housing, Section 8, Section 202 and Section 811. HUD also released Multifamily Tax Subsidy Program income limits for FY 2019, which are used for low-income housing tax credit and tax-exempt bond properties.

Thursday, April 18, 2019

The White House Opportunity and Revitalization Council Wednesday published its implementation plan on administrative reforms and initiatives to target, streamline, coordinate and optimize federal resources in economically distressed communities, including opportunity zones (OZ). The council, which is chaired by U.S.

Tuesday, April 16, 2019

The U.S. Department of Housing and Urban Development will publish in tomorrow’s Federal Register a notice establishing renewal funding inflation factors (RFIFs) to adjust fiscal year (FY) 2019 renewal funding for the Housing Choice Voucher program of each public housing agency (PHA). RFIFs are used to adjust the Housing Choice Voucher fund allocations to PHAs for local changes in rents, utility costs and tenant incomes.

Friday, April 12, 2019

The U.S. Department of Housing and Urban Development (HUD) will publish a request for information in the Federal Register seeking input on how HUD can act to encourage public and private investment in distressed communities, including opportunity zones. The White House Opportunity and Revitalization Council, created by executive order, includes the HUD secretary as the chairman. HUD is reviewing existing policies to determine what actions it can take.

Thursday, April 4, 2019

The U.S. Department of Housing and Urban Development today issued an advance notice of funding availability (NOFA) for up to $50 million for the Section 202 Supportive Housing for the Elderly program. The award ceiling will be $5 million and the minimum will be $50,000. The NOFA provides scoring advantages to applicants that leverage other funds with the HUD funding. There will be a second NOFA in 2020.

Thursday, April 4, 2019

The U.S. Senate today confirmed Mark Calabria as the director of the Federal Housing Finance Agency by a 52-44 vote. Calabria will oversee, among other things Fannie Mae and Freddie Mac. Calabria will serve a five-year term and he succeeds Mel Watt, whose term ended in January. Calabria previously was the chief economist for Vice President Mike Pence.

Wednesday, April 3, 2019

Joseph Otting, acting director of the Federal Housing Finance Agency, today announced that he has authorized the transfer of affordable housing allocations from Fannie Mae and

Wednesday, March 27, 2019

President Donald Trump today issued a memorandum on federal housing finance reform, including frameworks to reform housing government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, programs of the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration and Ginnie Mae.

Thursday, March 21, 2019

The U.S. Department of Housing and Urban Development’s (HUD’s) Real Estate Assessment Center (REAC) inspections of HUD-assisted or HUD-insured multifamily housing need improvement, according to a report issued today by the Government Accountability Office (GAO). The GAO report makes 14 recommendations, focused on how REAC selects, trains and monitors contractors who perform the inspections.

Thursday, March 14, 2019

There is a national shortage of 7 million affordable, available rental homes for extremely low-income renters, according to an annual study by the National Low Income Housing Coalition.

Wednesday, March 13, 2019

Sen. Elizabeth Warren, D-Mass., and two colleagues today introduced legislation to leverage federal funds to build as many as 3.2 million homes, mostly investment in the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF). A companion bill to the American Housing and Economic Mobility Act was introduced by 14 members of the House of Representatives.

Wednesday, March 13, 2019

The U.S. Department of Housing and Urban Development (HUD) will publish a notice Thursday in the Federal Register revising the fiscal year 2019 fair market rents (FMRs) for 10 areas, based on data provided to HUD. The FMRs apply to the Housing Choice Voucher program and the Moderate Rehabilitation Single-Room Occupancy program. The revised FMRs will take effect April 13. The 10 areas include four in Oregon, four in California and two in New England.

Monday, March 11, 2019

The Trump administration today released its proposed $4.7 trillion budget for fiscal year 2020, which proposes reductions in funding for the U.S. Department of Housing and Urban Development (HUD), including the elimination of the Community Development Block Grant (CDBG) and HOME Investment Partnerships programs and the Public Housing Capital Fund. The budget request includes $44.1 billion in gross HUD appropriations, a 16.4 percent cut from FY 2018 levels, and a $9.6 billion, or 18 percent cut from FY 2019, to support the core functions.

Wednesday, February 27, 2019

The Internal Revenue Service will publish in Monday’s Federal Register final utility allowance regulations for low-income housing tax credit (LIHTC) properties. The final regulations make permanent the temporary rules under which charges for utilities are treated as paid to the utility company in situations where tenants pay the building owner for utilities based on actual consumption and the building owner pays the utility company.

Tuesday, February 26, 2019

The U.S. Department of Housing and Urban Development (HUD) today posted a draft section to be added to its Rental Assistance Demonstration (RAD) program notice seeking public feedback on its upcoming change to include Section 202 project rental assistance contracts under the RAD program.

Monday, February 25, 2019

The U.S. Department of Housing and Urban Development’s (HUD’s) Office of Community Planning and Development issued a notice with instructions for when jurisdictions should submit their fiscal year 2019 national Housing Trust Fund (HTF) allocation plans.

Friday, February 22, 2019

The Internal Revenue Service will publish in Tuesday’s Federal Register final regulations to amend compliance monitoring regulations for low-income housing tax credit (LIHTC) properties concerning physical inspections and the review of documentation. The regulations adopt temporary regulations published Feb. 25, 2016.

Wednesday, February 20, 2019

The U.S. Department of Housing and Urban Development (HUD) today announced a policy to grant public housing authorities and private owners of HUD-subsidized developments 14 calendar days’ notice before an inspection. The current standard for HUD’s Real Estate Assessment Center is up to 120 days. The new standard will be effective 30 days after publication.