Federal / Agency News

The bill would incentivize coordination amongst housing authorities, school districts, and community organizations to improve educational and housing outcomes for children.

HUD recently published a notice in the Federal Register that establishes an expedited process for reviewing requests for relief from HUD regulatory/administrative requirements for PHAs located in Texas, U.S. Virgin Islands, Puerto Rico, Florida, and Georgia. The expedited process will also apply to future Major Disaster Declarations for the remainder of 2017.

The Successful Stewardship of Multifamily Housing Recapitalization Workbook is designed to support the exploration and decision-making that owners will undertake to preserve their properties. 

For mixed-finance projects, it can be difficult to refinance a property prior to the expiration of the tax credit compliance period. With this in mind, HUD’s Office of Recapitalization has adopted alternative underwriting criteria for these properties.

The House this week began debate over its fiscal 2018 budget resolution. While Tax Reform is a large task for Congress to take on, passing a concurrent resolution over the next month will be a critical first step in making tax reform more plausible for the coming year.

As anticipated, Republican leadership released a tax reform framework intended to guide House and Senate tax writing committees in their drafting of tax reform legislation. The framework does not explicitly preserve the historic tax credit and envisions that most business tax credits will be repealed in order to achieve a 20% corporate tax rate.

Continue reading for three updates from the RAD Team at HUD.

The report found that over 68% of NMTC investments through 2015 could be classified as either single/mixed-use real estate, health care and social services, manufacturing, and education.

While the 9-page “Unified Framework For Fixing Our Broken Tax Code” is silent on many critical details, one key feature is a 20% corporate tax rate. This lower rate potentially creates two snags for the tax-incentivized real estate industry.

Given the historically large number of RAD closings ever November, HUD has suggested to owners closing in October to consider a December 1 HAP effective date rather than November 1.

Mr. Kurtz currently serves as Deputy Chief of Staff for Policy and Programs at HUD in the Office of the Secretary and previously held several other positions in the department during the George W. Bush Administration. 

As Deputy Secretary, Patenaude will oversee day-to-day operations at the Department.