Federal / Agency News
New RAD Notice: Increase in Cap and Rent Setting; PHAs Have 60 Days to Act
PHAs which have previously submitted a Letter of Interest (LOI) are now eligible and have 60 days to submit a RAD application for the units specified in their LOIs.
HUD Suspends Mandatory Implementation of Small Area Fair Market Rents
In a letter dated August 11, HUD notified PHAs in 23 metropolitan areas that the small area FMR designation would be suspended until October 1, 2019.
Updates to CNA e-Tool – New Spreadsheet
HUD has released technical updates as well as links to updated documents and instructions. The improved Assessor Tool Excel Sheet (CNA 1.2 V4) is now available and is required if you are assessing a property in the New England Region where the zip code starts with zero.
CDFI Fund Seeks Underwriters, Assessors to Review Applications
The CDFI Fund is looking for experienced affordable housing professionals to review Capital Magnet Fund applications from early October through mid-November. Applicant reviewers would work from their own chosen remote location.
Two HUD Nominations Confirmed by Senate
Anna Maria Farias and Neal Rackleff will serve as Assistant Secretaries at HUD. The two Texas lawyers were both confirmed on August 3.
2017 Shows Continued High Demand for New Markets Tax Credits
The CDFI Fund received 230 applications in its 2017 round for the New Markets Tax Credit Program.
HUD Report: While Economy Improves, Number of Greatest Need Renters Nears Record High
HUD’s 2017 edition of its Worst Case Housing Needs shows that severe housing problems are on the rise.
CDEs Going Above and Beyond in New Compliance Study of New Markets Tax Credit
A recent report commissioned by the CDFI Fund not only found full compliance amongst all Community Development Entities (CDEs) reviewed, but also found that CDEs generally exceeded minimum financing thresholds mandated by the IRS.
HUD Releases Training Videos on Rent Comparability Studies
HUD posted on YouTube a series of four video training sessions on Chapter 9 of the Section 8 Renewal Policy Guide, “Rent Comparability Studies.” These videos provide in-depth training on preparing and reviewing rent comparability studies (RCS).
Senate Finance Committee Holds Hearing on Affordable Housing
In a bipartisan show of support for affordable housing, members of the Committee from both sides of the aisle acknowledged the need for more affordable housing and the role of the Low-Income Housing Tax Credit (Housing Credit) as our nation’s primary tool for increasing the supply of affordable rental housing.
Senate Appropriations Subcommittee Bill Advances With $1.4 Billion Increase Over FY2017
The 3.5% increase over last year is in contrast to the House’s current appropriations bill, which calls for a 1.3% decrease to HUD’s appropriation.
HUD Reorganizes Senior Executive Services Members
Dominque Blom named new General Deputy Assistant Secretary For Public and Indian Housing.