News

The Office of Multifamily Housing at HUD released new procedures related to budget-based rent adjustments, which increase replacement reserve deposits for properties assisted under Section 202 Project Rental Assistance Contracts (PRACs).

The Public Broadcasting Service (PBS) recently aired its new documentary, East Lake Meadows: A Public Housing Story. Stories from East Lake Meadow residents in Atlanta reveal hardship and resilience, and raise critical questions about race, poverty and who is deserving of public assistance.

Following President Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest.

The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of Coronavirus.

Senate Majority Leader Mitch McConnell (R-KY), Senate Minority Leader Chuck Schumer (D-NY) and Treasury Secretary Steven Mnuchin have reportedly reached an agreement on nearly $2 trillion emergency relief package in response to the coronavirus pandemic, which contains:

Assistant Secretary for Housing and Federal Housing Commissioner Brian Montgomery issued a video message regarding COVID-19. Commissioner Montgomery said that while his goal “to keep this segment of the economy moving and to ensure that American’s have access to safe, decent and affordable housing” stakeholders should expect processing delays as FHA employees transition to work from home.

The Centers for Disease Control and Prevention (CDC) posted interim guidance on preventing the spread of COVID-19 in retirement communities and independent living facilities.

The ACTION Campaign, of which NH&RA is a member, sent this letter to Congress with housing related requests to include in the COVID-19 pandemic response legislation. The statutory requests include:

Immediate one-year extension for three key deadlines:
10 percent test deadlines
Placed in service deadlines
Rehabilitation expenditure deadlines
Enact a minimum four percent LIHTC rate

President Trump directed HUD to suspend evictions and foreclosures for single-family homes with FHA-insured mortgages for the next 60 days. Similarly, the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days due for homeowners with an Enterprise-backed single-family mortgage.

The majority of the House of Representatives has cosponsored the Affordable Housing Credit Improvement Act, H.R.3077, with a total of 221 members signed on to the bipartisan legislation.

HUD announced the Fiscal Year (FY) 2019 Tenant Protection Voucher (TPV) award amounts for the Housing Choice Voucher Program.

HUD extended the comment period for its proposed rule on the Adoption of Additional Safe Harbors for the Fair Housing Act Design and Construction Requirements. Comments were originally due on March 15 and are now due on April 13 and can be submitted here.