General News
UPDATE: Montana Releases 2013 QAP Draft for Public Comment
The Montana Board of Housing (MBOH) has released a draft of its 2013 Qualified Allocation Plan following its QAP Work Session held on August 16, 2012. The proposed 2013 QAP includes several revisions from previous years.
Oregon Seeks Public Comments on Housing & Community Development Programs
Oregon Housing and Community Services is currently seeking public comments on its proposed 2013 Annual Action Plan and its proposed Community Development Block Grant (CDBG) Method of Distribution.
FY 2013 Continuing Resolution Passes House and Senate
The US House of Representatives recently passed a continuing resolution (CR) (HJ Res 117) on September 13, 2012 by a vote of 329-91, followed by passage in the Senate by a vote of 62-30 on September 22, 2012. The CR effectively delays final decisions for fiscal year (FY) 2013 spending until after the elections and will allow, if necessary, the Federal government to run uninterrupted through March 27, 2013 until a new Congress takes office.
HUD Extends Notice Related to Subordination of Section 202 Loans
HUD has issued Notice H 2012-18 and H 2012-19 extending an original Notice H 2010-26 which established policy and procedures for the review of requests to subordinate Section 202 direct loans in cases where refinancing these loans is not feasible.
HUD Publishes DDAs for 2013
HUD has issued a notices designating its 2013 “Difficult Development Areas” (DDAs) for purposes of the Low-Income Housing Tax Credit (LIHTC) program. HUD makes DDA designations annually.
HUD Publishes Additional RAD Instructions for Rent Supp and RAP Conversion Applicants
On March 8, 2012, at 77 FR 14029, HUD published in the Federal Register a notice announcing HUD’s Rental Assistance Demonstration (RAD) program and the publication of PIH Notice 2012-18 on the RAD Website.
CA Governor Signs Bill to Expand Access to Utility Energy Efficiency Resources
California Governor Jerry Brown recently signed into law a bill, AB 1124, which enables renters and landlords to be eligible for repair and replacement of furnaces and hot water heaters under California utilities’ energy efficiency programs.
USDA Issues Guidance on Capital Needs Assessments for Multifamily Properties
The U.S. Department of Agriculture (USDA) Rural Development has released an Unnumbered Letter (UL) to provide guidance on the Rural Development Capital Needs Assessment (CNA) processes for multifamily properties.
HUD Announces Expansion of FHA LIHTC Pilot Program
HUD has announced the expansion of its FHA Low-Income Housing Tax Credit (LIHTC) Pilot program by increasing the number of participating HUD Hub Processing Offices by five and to make the pilot available to LIHTC projects in all parts of the country. The added HUD offices are in Atlanta, Denver, Fort Worth, San Francisco, and Seattle. They join the original participating Hub Offices in Boston, Chicago, Detroit, and Los Angeles.
GAO Publishes Report on How CRA Effects LIHTC
The Government Accountability Office (GAO) has issued a new report titled “Community Reinvestment Act: Challenges in Quantifying Its Effect on Low-Income Housing Tax Credit Investment.”
THDA Announces New Executive Director
The Tennessee Housing Development Agency announced Ralph Perrey as the new Executive Director in a press release on September 25, 2012. Perrey will leave his current position on THDA’s Board of Directors on October 16 in order to begin his term in this new position.
Mitt Romney Campaign Releases Housing Policy White Paper
On Friday, September 21, the Romney campaign released a short white paper entitled “Securing the American Dream and the Future of Housing Policy”, which details the Republican presidential candidate’s plans for “reduc[ing] the outsized role of the government and revitaliz[ing] the private sector’s role in the housing market to end the housing crisis and preserve the American Dream of homeownership.”