Federal / Agency News
HUD Revises Base City High Cost Percentage, High Cost Area and Per Unit Substantial Rehabilitation Threshold for 2022
In Mortgagee Letter 2022-05 and Housing Notice 2022-02, HUD increased the substantial rehabilitation for FHA insured loan programs from $15,000 to $16,983 per unit.
NH&RA Joins SLFRF Letter to Congressional Leaders
NH&RA joined with 81 other organizations in a letter sent to Senate Majority Leader Chuck Schumer (D-NY), Senate Minority Leader Mitch McConnell, House Speaker Nancy Pelosi (D-CA) and House Minority Leader Kevin McCarthy (R-CA) on the need to adjust the Coronavirus State and Local Fiscal Recovery Fund (SLFRF) program so that it can be used efficiently to provide long-term loans to LIHTC developments.
Application Demand for CY 2021 Round of the NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that it received 199 applications under the calendar year (CY) 2021 round of the New Markets Tax Credit Program (NMTC Program).
Congress Passes FY 2022 Funding through March 11
Last week the Senate passed a continuing resolution that will fund the federal government through March 11.
HUD Posts FY 2022 Section 8 HAP AAFs
HUD issued a notice of Fiscal Year (FY) 2022 Annual Adjustment Factors (AAFs) for certain properties in HUD’s Section 8 housing assistance payment (HAP) programs.
RAD Collaborative Hosts Section 18 Blends Webinar – March 3
On March 3 at 2 p.m. ET the RAD Collaborative will host a virtual roundtable with Tom Davis and other Recap Office staff, joined by public housing practitioners who have used RAD-Section 18 Blends options to meet a range of portfolio capital needs.
Executive Order Mandates Project Labor Agreements for Large-Scale Federal Construction Projects
President Biden recently issued an Executive Order requiring that large-scale Federal construction projects with at least $35 million in costs use project labor agreements with one or more labor organizations.
FHA Removes Temporary COVID-19 Underwriting Mitigants for Multifamily 223(f) Transactions
The Federal Housing Administration (FHA) announced that it is removing temporary COVID-19 underwriting mitigants for multifamily transactions insured under Section 223(f) of the National Housing Act effective immediately for all insured transactions that have yet to reach endorsement.
House Extends Continuing Resolution till March 11; Senate to Vote
Last week the House passed a continuing resolution that would fund the federal government at current funding levels through March 11.
Ron Terwilliger on How to Make More Affordable Housing: Expanding the Supply of Affordable Homes for Rent and Sale Must be a National Priority
Ron Terwilliger, founder of the Bipartisan Policy Center’s (BPC) Terwilliger Center for Housing Policy, explains how the U.S. can make housing more affordable in an op-ed for HousingWire.
Updated Preservation Data Available from the National Housing Preservation Database
The National Low Income Housing Coalition and the Public and Affordable Housing Research Corporation updated its National Housing Preservation Database.
HUD Releases New Section 3 Guidebook
HUD released its Section 3 Guidebook. Section 3 is a provision of the Housing and Urban Development Act of 1968 that ensures employment, training and contracting opportunities for low- and very low-income workers and eligible businesses in connection with the planning, construction and rehabilitation of housing and community development projects assisted by HUD.