Federal / Agency News

HUD announced the allocation of $380 million in supplemental administrative fee funding to all Public Housing Authorities (PHAs). HUD also allocated an additional $1 billion through its Community Development Block Grant.

Ginnie Mae issued a memo, which announces a new version of the existing Pass-Through Assistance Program (PTAP) for use by Multifamily Mortgage-backed Securities (MF MBS) Issuers facing a temporary liquidity shortfall directly attributable to COVID-19.

HUD published a final rule that allows public housing authorities (PHAs) and owners to conduct full income recertifications for families with 90 percent or more of their income from fixed-income every three years instead of annually. The final rule is effective as of June 8, 2020.

In Revenue Procedure 2020-21, the IRS provides temporary guidance to allow hearings held by teleconference due to the COVID-19 pandemic to meet the statutory public approval requirement for PABs. Notice 2020-25 temporarily expands the circumstances and period for which a PAB is treated as “continuing in effect” without requiring the reissuance or retirement.

HUD’s Office of Multifamily Housing Programs updated its Multifamily Q&A Guidance for COVID-19 on May 1. The new questions address nutrition resources for residents, calculating tenant income from the CARES Act, forbearance, evictions for criminal activity, subsidy payments for deceased tenants due to COVID-19 and more. Search “5/1/20” to search for the new questions and […]

HUD reissued the Update on Budget Based Rent Adjustments (BBRA) for Properties Assisted under Project Rental Assistance Contracts (PRACs) memo with a correction to paragraph five. The original correspondence dated March 12, 2020, referenced monthly per-unit deposit levels rather than annual per-unit deposit levels, as was intended.

Senate Majority Leader Mitch McConnell (R-KY) announced that the Senate will be in session on May 4. The House announced it would return from recess only to reverse course after conflicting advice from the Capitol physician and an outcry from members. In the next Coronavirus relief package, Leader McConnell will push for liability protections for […]

HUD created a resource for residents and families living in multifamily properties, which addresses steps residents can take in case of lost income during COVID-19, provides local contact information and explains the eviction moratorium in the CARES Act.

The National Trust for Historic Preservation and Historic Tax Credit (HTC) Coalition developed a one pager outlining recommendations to improve and bolster the HTC in a future stimulus package.

Applications for Delaware State Housing Authority’s Housing Development Fund (HDF) for Special Populations are now available. The $1.5 million Special Populations HDF loan creates and increases the supply of affordable housing for special needs populations.

Yesterday the Senate passed by voice vote the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), which appropriates an additional $321 billion to the Payment Protection Program, $60 billion for loans and grants for economic disaster assistance, $75 billion for hospitals and $25 billion for testing. The House is expected to pass the bill on Thursday by allowing members to vote by proxy, in which a member could designate a colleague to vote on their behalf.

The National Council of State Housing Agencies (NCSHA) released a matrix comparing the LIHTC accommodations NCSHA is requesting from the IRS to those allowed under existing IRS Revenue Procedures 2014-49 and 2014-50, which provide relief in instances of Presidentially-declared Major Disasters, and to recent IRS Notice 2020-23, which extends certain program deadlines until July 15, […]