Federal / Agency News
President Biden Appoints Michael Barr to Federal Reserve
President Joe Biden (D) nominated former Treasury Department official Michael Barr to lead the Federal Reserve’s regulation of the banking system as the central bank’s vice chair for supervision.
HUD Releases FY 2022 Income Limits
HUD released the Fiscal Year (FY) 2022 Income Limits for the Public Housing, Section 8 project-based, Section 8 Housing Choice Voucher, Section 202 housing for the elderly and Section 811 housing for persons with disabilities programs.
House Financial Services Committee Holds Public Housing Fire Safety Hearing – April 20
On April 20 at noon the Subcommittee on Housing, Community Development and Insurance of the House Financial Services Committee will convene in the Bronx, NY for a hybrid field hearing entitled, A Matter of Life and Death: Improving Fire Safety in Federally Assisted Housing.
CDFI Fund Awards $26 Million to Banks that Increased Investments in Severely Distressed Communities
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $26 million in awards to 158 FDIC-insured banks, through the fiscal year (FY) 2021 round of the Bank Enterprise Award Program (BEA Program), for increasing investments to communities experiencing severe economic distress across the nation.
Senate Advances FHA Commissioner Nomination
Yesterday, the Senate voted to discharge the nomination of Julia Gordon to serve as commissioner of the Federal Housing Administration/deputy secretary of HUD’s Office of Housing.
Treasury Details ERA 2 Reallocation Process
The Department of the Treasury published plans for reallocation of unspent dollars from the Emergency Rental Assistance program authorized under the American Rescue Plan Act (ERA 2).
Treasury Reallocates $1 Billion in ERA 1 Funding to States, Localities and Tribes
The U.S. Department of the Treasury announced the second round of reallocations from the Emergency Rental Assistance (ERA) program.
HUD Names Willie Fobbs Director of Multifamily Office of FHA Production
HUD recently named Willie Fobbs as director of Multifamily’s Office of Production. Prior to joining HUD, Fobbs served as the associate director of housing production and preservation at the Virginia Department of Housing and Community Development (DHCD).
HUD Withdraws Clarification on Valuation of Non Shelter Services Memo
On March 24, HUD issued a memo withdrawing its November 15 Clarification on Valuation of Non Shelter Services memo. HUD expects to more fully address the issues that led to the release of this memo, as well as questions and concerns arising from the memo, in upcoming draft revisions to Chapter 9 of the Section 8 Renewal Policy Guidebook.
NLIHC Publishes 2022 Advocates’ Guide
National Low Income Housing Coalition (NLIHC) released its Advocates’ Guide 2022: A Primer on Federal Affordable Housing & Community Development Programs & Policies, a comprehensive resource for advocates and others involved in many aspects of affordable housing and community development.
President Biden Releases FY2023 Budget Request
On Monday, the White House released its FY 2023 budget proposal, which requests $71.9 billion in discretionary funding for HUD and $50 billion for “Addressing Cost Pressures and Expanding Economic Capacity.”
IRS Permanently Allows Virtual Bond, QAP Hearings
In Revenue Procedure 2022-20, the Internal Revenue Service provides permanent authority to conduct telephonic public hearings for tax-exempt private activity bonds and QAPs.