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$0HUD recently issued a notice in the Federal Register to combine and streamline public housing capital funding and the public housing development program. More specifically, the rule combines the former legacy public housing modernization programs, including the Comprehensive Grant Program (CGP), the Comprehensive Improvement Assistance Program (CIAP), and the Public Housing Development Program (which encompasses mixed-finance development), into the Capital Fund Program (CFP). In addition, for the first time, it identifies regulatory conditions under which a mixed-finance project may “transform” due to insufficient operating subsidy. The rule allows PHAs to request a total development cost exception for capital and management activities that promote energy conservation and efficiency, including green construction and retrofits, which include windows; heating system replacements; wall insulation; site-based generation; advanced energy savings technologies, including renewable energy generation; and other such retrofits. The rule also makes changes to replacement housing factor funds and the threshold for management improvements. The rule becomes effective November 25 and because it streamlines programs, several formerly separate regulations are eliminated. $0
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