News

congress-capitol

Congress Reauthorizes Promise Neighborhoods Program

Congress reauthorized the Elementary and Secondary Education Act, which included Promise Neighborhoods, a sister program to the Choice Neighborhoods Initiative.

HUD

HUD Posts Materials on Affordable Housing Preservation

HUD published materials from local preservation clinics for Section 236 (both FHA-insured and HFA-issued) and Section 202 Director Loan property owners and their partners.

Federal Housing Finance Agency

Under Proposed FHFA Rule, GSEs Earn Duty to Serve Credit through HUD Housing Programs

Tasked with ensuring Fannie Mae and Freddie Mac meet a requirement to serve underserved markets, the Federal Housing Finance Agency proposed a rule that will allow the GSEs to earn Duty to Serve credit activities related to several HUD housing programs. A public comment period on the proposed rule is open for 90 days.

congress-capitol

FY 2016 Omnibus Bill Boosts Funding for Several Key Housing Programs

FY 2016 funding includes level and higher funding from FY 2015 levels for many key HUD housing programs. In most cases, the funding levels stop short of fully funding the programs’ needs, but are better than expected. Congress approved the omnibus funding measure on Friday, December 18.

HUD

HUD Finalizes FY 2016 Fair Market Rents

HUD finalized Fair Market Rents (FMRs) for fiscal year 2016. FMRs are used to set payment standards and rents for several HUD-assisted housing programs.

congress-capitol

New Law Helps Finance Energy, Water Retrofits for HUD-Assisted Housing

Several provisions related to federally-assisted housing, including a pay for success pilot to raise outside capital for energy and water retrofits, were signed into law with the FAST Act.

NH&RA News

CDFI Fund Updates NMTC Certification, Compliance, Monitoring FAQs

The revised answers to NMTC frequently asked questions add, revise, and update earlier versions from December 2014 and October 2015.

Massachusetts

Massachusetts Issues Planning Grant NOFA for State Public Housing

Up to $1 million in planning and pre-development funds is available to housing authorities interested in redeveloping their state-aided public housing as a mixed income development in partnership with a developer.

HUD

HUD Establishes Basic Statutory Mortgage Limits for Multifamily Housing Programs

The Department of Housing and Urban Development adjusted Basic Statutory Mortgage Limits for the Multifamily Housing Section 207, 213, 220, 221(d)(4), 231, 234 programs. They have an effective date of January 1, 2015.

HUD

HUD Provides Answers to Section 8 Renewal Policy Guide FAQs

The Department of Housing and Urban Development released responses to frequently asked questions regarding the Section 8 Renewal Policy Guide.

NH&RA News

Report: Affordable Housing Offers Opportunities to All Types of Investors

A recent report profiles successful efforts to preserve affordable housing using below-market debt funds, private equity vehicles, and real estate investment trusts (REITs).

California

HUD Multifamily DAS Ben Metcalf Appointed to Lead California DHCD

California Governor Edmund Brown, Jr. appointed Ben Metcalf, former Deputy Assistant Secretary in the Department of Housing and Urban Development Office of Multifamily Housing Programs, to direct the California Department of Housing and Community Development.

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