Federal / Agency News
Senate Votes Down Rescissions
Due to procedural rules, Congress had until June 22 to pass the rescissions with a simple majority.
Addiction Recovery Housing Bill Passes House
The THRIVE Act is a plan to create a transitional housing program for individuals recovering from opioid addiction or other substance abuse disorders.
HUD Updates FAQ for Transferring Budget Authority Under Section 8(bb)
HUD has released a new FAQ document for executing Section 8(bb) transfers, which allows for the transfer of budget authority from a terminated/expiring Project-Based Rental Assistance HAP contract to a new or existing PBRA HAP contract.
Bipartisan Legislation Introduced to Enhance the Historic Tax Credit, Support Needed
NH&RA encourages its members to support this important legislation. Sponsors anticipate there is an opportunity to attach the basis adjustment language to a larger legislative package that is likely to move through Congress toward the end of the year. Support for the legislation needs to come from both sides of the aisle to improve its chances of enactment.
Treasury Makes Final Round of Opportunity Zone Designations
The final round of submissions were approved for: Florida; Nevada; Pennsylvania; and Utah. All Opportunity Zones can now be viewed on the CDFI Fund website.
NMTC Responsible for 272 Projects, 60,000 Jobs in 2017
The New Markets Tax Credit Coalition recently released its 2018 New Markets Tax Credit (NMTC) Progress Report.
Secretary Carson Announces First Round of Envision Center Designations
EnVision Centers will offer HUD-assisted families access to services that can help them achieve self-sufficiency and serve as an incubator to support four key pillars of self-sufficiency: economic empowerment; educational advancement; health and wellness; and character and leadership.
Legislation Passes House Committee to Permanently Authorize CDBG-DR
The Reforming Disaster Recovery Act of 2017 (H.R. 4557) proposes to permanently authorize the Community Development Block Grant – Disaster Recovery (CDBG-DR) program.
IRS Updates Opportunity Zone FAQs, 2017 Gains Eligible for Deferral
The IRS has updated the Opportunity Zones Frequently Asked Questions document to reflect that both 2017 and 2018 gains invested in Opportunity Zone Funds are eligible for deferral.
Senate Committee Passes FY-19 THUD Spending Bill, Significant Increase for HUD
The US Senate Appropriations Committee has approved its FY-2019 Transportation, Housing, and Urban Development spending measure (S. 3023). The Senate committee proposes an additional $4.3 billion in Tenant Based Vouchers and an additional $400 million in Project Based Rental Assistance over the House’s T-HUD funding language (which was approved by the full House Appropriations Committee on May […]
HUD Publishes Updated Mortgage Limits for Multifamily Housing
These limits have an effective date of January 1, 2018. New dollar amounts are provided in the Notice for Sections 220, 213, 234, 221 (D)(4), and 231.
HUD Updates Annual Base City High Cost Percentage, High Cost Area, Per Unit Substantial Rehab Threshold
The HUD Office of Multifamily Production has determined areas considered High Cost Areas, and has listed them in the notice.