News

Despite the extreme division and political controversy that came along with the recent federal government shutdown and debt ceiling debate, Congress was able to pass the Continuing Appropriations Act of 2014 (HR 2775) which would provide appropriations to government agencies for three months. Section 148 of the measure extends the second component of the Rental Assistance Demonstration (RAD) program through January 15, 2014.

HUD has released a Frequently Asked Questions (FAQs) document on RAD Rent and Funding Levels for Applications Received by December 31, 2013, which incorporate and expand on elements contained in previous FAQs posted on 3/15/13 and 9/13/13.

HUD recently issued a notice in the Federal Register to combine and streamline public housing capital funding and the public housing development program.

All conference materials, PowerPoint presentations, relevant articles, reports, memos, etc. from the 2013 NCHMA Annual Meeting are available for download.

The House of Representatives Financial Services Committee recently announced an updated hearing schedule for the upcoming weeks. On October 29, the Committee will hold a hearing on the “recent taxpayer-funded bailout of the Federal Housing Administration.”

The Internal Revenue Service (IRS) has released it latest LIHC Newsletter, which provides a forum for information about Section 42, the Low-Income Housing Tax Credit (LIHTC), and communicates technical knowledge and skills, guidance, and assistance for developing LIHTC properties. LIHC Newsletter #53 provides guidance on developer fees.

Registration is now open for the 2014 State of New Mexico Qualified Allocation Plan (QAP) training. Attendance for this workshop is mandatory for all applicants. Topics covered will include application standards and scoring, common application errors and changes to the QAP.

The 2014 Iowa QAP is now available on Iowa Finance Authority’s (IFA) website. The final application is due on December 9, 2013 at 4:30 pm. Please note that there applicants must attend a mandatory developer training session.

The Wyoming Community Development Authority announced the availability of funds through an application period under the 2013 HOME Investment Partnerships Program (HOME). It is estimated there will be approximately $4.000,000.00 available in HOME funds for the new construction or rehabilitation of rental housing. Small projects as defined in the Wyoming Affordable Housing Allocation Plan will be given preference. If all funds are not committed or utilized, the funding may revert to other set asides.

Idaho Housing and Finance Association (IHFA) will hold a public hearing for the 2014 Qualified Allocation Plan (QAP) on October 30, 2013

Alaska Housing Finance Corporation announced the availability for funding under the following programs:

HUD recently released Mortgagee Letter (ML) 2013–31, which extends certain provisions within a previously released ML 2012-13 and ML 2011-13. The authority within ML 2011-13 allowed Multifamily HUD Hubs to process waiver requests pertaining to the three-year rule for Section 223(f) applications, but that rule expired in July 2012 and ML 2012-13 extended the rule for one year.