News

California Governor Gavin Newsom announced a compromise on proposed legislation to cap rent increases statewide and ultimately address the housing crisis.

Last week the Department of the Treasury and HUD sent their Housing Finance Reform Plans to President Trump following his March Memorandum, which ordered the reports. The Senate Committee on Banking, Housing and Urban Affairs held a hearing on Housing Finance Reform: Next Steps with HUD Secretary Ben Carson, Treasury Secretary Steven Mnuchin and FHFA Director Mark Calabria as witnesses.

HUD released Rental Assistance Demonstration (RAD) Notice (H 2019-09/ PIH 2019-23), which clarifies certain requirements of First Component RAD projects and implements its new RAD for Project Rental Assistance Contracts (PRAC) program, which will allow Section 202 PRAC properties to convert to long-term Project Based Rental Assistance (PBRA) or PBV contracts.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2019 round of the New Markets Tax Credit Program (NMTC Program). The NOAA makes up to $3.5 billion in tax credit allocation authority available for the CY 2019 round.

HUD will offer one final SfS registration opportunity before the SfS report is due on October 30, 2019. The final registration window will be from September 9 – September 27. Any property that needs to report to HUD, and does not register for SfS by September 27, will be out of compliance with HUD. 

The Rural Housing Service (RHS or the Agency) is proposing to amend its regulation to remove the stated amount that the Agency will charge for the initial and annual guarantee fees. The regulation change will allow the Agency the flexibility to establish or make any future changes to the initial and annual guarantee fees without […]

Rep. Earl Blumenauer (D-OR) has released a housing report, “Locked Out: Reversing Federal Housing Failures and Unlocking Opportunity.” The report offers strategies the federal government could pursue to meaningfully address the nation’s housing affordability challenges – including expanding the Low-Income Housing Tax Credit program, making HUD’s Section 8 Housing Choice Vouchers an entitlement program to […]

Industry to honor the Joes at October 16 luncheon at Boston’s Harvard Club WASHINGTON, DC (September 9, 2019) – The National Housing & Rehabilitation Association (NH&RA) announced today that two affordable housing champions– Joe Hagan, President Emeritus at the National Equity Fund, Inc. (NEF) and Lyndel J. “Joe” Wishcamper, President at The Wishcamper Companies, Inc.–will […]

The Internal Revenue Service (IRS) updated its Opportunity Zones Frequently Asked Questions (FAQ) page with information on when investors can adjust basis to fair market value, a list and map of designated qualified opportunity zones, how to become a qualified opportunity fund and whether inventory in transit can be qualified opportunity zone business property.

As Congress returns from its August recess, lawmakers must act to secure funding for fiscal year (FY) 2020 ahead of the September 30 deadline. The White House released a list of requested anomalies, or changes to the current funding levels and legislative language, if lawmakers rely on a continuing resolution (CR) to fund the government past Sept. 30. HUD’s Section 202 Housing for the Elderly secured a coveted spot on that list.

A new brief from the Furman Center, NYCHA’s Road Ahead: Capital and Operating Budget Needs, Shortfalls, and Plans, reviews how the New York City Housing Authority (NYCHA) plans to address its massive public housing repair needs in the coming years and identified a number of serious potential challenges. “In a 2017 Physical Needs Assessment (PNA), […]

Last week, HUD published the Fiscal Year (FY) 2020 Fair Market Rents (FMRs) in the Federal Register. The new rents will become effective on October 1, 2019 for the Housing Choice Voucher program and Moderate Rehabilitation Single Room Occupancy program, unless HUD receives a valid request for reevaluation of specific area FMRs. The notice also includes responses to public comments from the June 5, 2019 Federal Register notice announcing two method changes in the calculation of FMRs.