$224 Million in HUD Funding Available as COVID-19 Supplemental Payments

HUD recently published Housing Notice 20-8, Availability of Funds for COVID-19 Supplemental Payments (CSPs) for Properties Receiving Project-Based Rental Assistance under the Section 8, Section 202 or Section 811 Programs.

HUD is making available $224 million of CARES Act funds available to offset property expenditures to combat the effects of COVID-19. This notice provides a method for owners to receive payments beyond the amounts available under the terms of their current rental assistance contracts.

The supplemental payments may cover additional cleaning and disinfecting, additional staff, face coverings and other expenses to help keep properties safe for residents. The Housing Notice allows owners to submit payment requests for expenses incurred between March 27 and July 31, 2020. Requests are due to HUD or the Contract Administrator by August 5, 2020 via this form. Instructions to accompany the form are in the Housing Notice H 20-8.

Property owners and management agents should contact their assigned HUD Account Executive or Contract Administrator with any questions about property eligibility for a CSP.

HUD Releases HOME Monthly Reports

HUD has announced that the latest HOME Monthly Reports, as of November 30, 2024, are now available. Why it matters: These reports are crucial for Participating Jurisdictions (PJs) to effectively track and manage their housing initiatives. Details: The bottom line: These reports empower PJs to optimize their housing strategies, ensuring effective use of resources and […]

Ginnie Mae’s FY24 Annual Financial Report

Ginnie Mae has released its Fiscal Year 2024 (FY24) Annual Financial Report, and the numbers and initiatives are making an impact. Here are a few key takeaways:

Workforce Housing Debt Financing Updates

The northeast regional affordable housing community had the opportunity to receive an update on agency executions for workforce housing from PGIM’s Michael Lostocco at the NH&RA Fall Developers Forum. Fannie Mae and Freddie Mac have developed voluntary programs aimed at addressing housing affordability, particularly for middle-income renters.

FHFA Unveils Enterprises’ Three-Year Plans to Improve Housing Opportunities for the Underserved

Fannie Mae and Freddie Mac (the Enterprises) will seek to extend housing access in rural underserved markets, enhance their support for manufactured housing and continue addressing liquidity needs for first-time homebuyers, among a host of activities outlined in plans published by the Federal Housing Finance Agency (FHFA).