The U.S. Department of Housing and Urban Development is requesting public comments and feedback by November 6 to determine whether it should continue its “hold harmless” policy by maintaining local Section 8 income limits at the previously published level in cases where HUD’s estimate of area median family income or housing cost adjustment data, or changes in calculation methodology, would lead to a reduction in the income limit from the previous year. The policy was adopted to protect multifamily tax subsidy projects from decreases in income limits and rents, but artificial income limits may have adverse effects on other HUD programs. The notice seeks comments regarding the possible elimination of the hold harmless policy for federal programs other than the low-income housing tax credit and tax-exempt multifamily housing bond programs. Read More…