Federal / Agency News

The jockeying for cabinet and leadership positions within a Biden administration is well underway. We’ll keep a running list of names that are rumored to be in consideration, but note that this list already is out-of-date the second it is published, and that NH&RA is not endorsing any potential candidate, but rather relaying the potential candidates that we’re aware of.

In response to the continuing COVID-19 pandemic, the Internal Revenue Service (IRS) published Revenue Procedure 2020-49, which provides temporary guidance on the statutory public approval requirement for tax-exempt qualified private activity bonds. The revenue procedure extends the time period during which telephonic hearings satisfy the public approval requirement from December 31, 2020, until September 30, […]

HUD successfully completed the CNA e-Tool Version 3.0 installation and data conversion. The CNA e-Tool User Interface has been re-platformed to the cloud and the most important result is that users must now enter all data in the web application, not the Excel Assessment Tool, which is now retired.

FHFA determined the Enterprises’ purchases of mortgages exceeded the benchmarks for all the 2019 housing goals. The report also concluded both Enterprises complied with their 2019 Duty-to-Serve requirements in all three underserved markets.

The Department of the Treasury and the Internal Revenue Service posted a proposed rule on the Average Income minimum set-aside election. The proposed rule would require properties electing the average income minimum set-aside to designate the imputed income limit of each low-income unit no later than the close of the first taxable year of the LIHTC period. To avoid noncompliance and recapture, owners would only be allowed to take mitigating steps with 60 days of year-end.

LifeSTEPS and USA Properties Fund’s RN Coaching PILOT Program has received the 2020 HUD Secretary’s Awards for Healthy Homes, an annual award that recognizes programs that promote healthier housing through partnering, outreach and innovative practices.

On October 14, HUD issued a further update to its Frequently Asked Questions for subsidized multifamily housing programs to clarify and extend certain interim procedures and tie in the Centers for Disease Control and Prevention’s order creating a national eviction moratorium for nonpayment of rent.

The U.S. District Court for the District of Massachusetts issued a stay and preliminary injunction to prevent HUD from implementing its new Disparate Impact rule. The suit claimed the new rule violates the Administrative Procedure Act (APA) and drew support and declarations from over a dozen community-based organizations.

The Community Development Financial Institutions Fund (CDFI Fund) posted an updated calendar year (CY) 2020 New Markets Tax Credit (NMTC) Program Allocation Application Frequently Asked Questions (FAQs) document and a revised CY 2020 NMTC Program Allocation Application.

On Monday, the Senate voted down a motion to consider the House-passed resolution of disapproval (H.J. Res. 90) to nullify the Office of the Comptroller of the Currency’s new rule on Community Reinvestment Act (CRA). The Federal Reserve’s advanced notice of proposed rulemaking was officially published in the Federal Register. Comments are due by February 16, 2021; NH&RA will submit comments and encourages our members to do so as well.

Representative Katherine Clark (D-MA) introduced the Support Allowing Volume Exception for (SAVE) Federally-Assisted Housing Act, a targeted effort to address the national shortage of affordable housing units by freeing up the availability of private activity bonds used to support the preservation, improvement or replacement of federally-assisted housing facilities.

The Centers for Disease Control and Prevention (CDC) released new resources on its eviction moratorium, including a declaration template and FAQs, prepared in consultation with the Department of Health and Human Services, HUD and the Department of Justice.