News

HUD recently released Notice PIH-2012-18 to provide program instructions for the Rental Assistance Demonstration (RAD or Demonstration), including eligibility and selection criteria, and to solicit public comment on these instructions. RAD was authorized in the 2012 HUD appropriations bill, H.R. 2112. Although the Act specifies that HUD provide an opportunity for public comment only on draft eligibility and selection criteria / procedures that will apply to the selection of properties, HUD has decided to seek public comment on all program requirements.

The United States Senate adopted an amendment by unanimous consent to the Moving Ahead for Progress in the 21st Century Act or MAP-21 Act (S. 1813) that would provide a one year extension to the New Markets Tax Credit (NMTC) program.

Two pieces of affordable housing legislation, S.4758C and S.6480, were recently introduced by Senator Catharine Young in the New York State Senate.

The Community Development Financial Institution (CDFI) Fund announced its plans to update program eligibility criteria for the New Markets Tax Credit (NMTC) Program to reflect new data from the 2006-2012 American Community Survey (ACS).

The Acting Director of the Federal Housing Finance Agency (FHFA), Edward J. DeMarco, recently sent a memo to members of Congress outlining a strategic plan for the next phase of the conservatorships for the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac.

HUD has released a Notice of Funding Availability (NOFA) for $5,000,000 in FY 2012 Choice Neighborhoods Initiative (CNI) Planning Grants.

The Kentucky Housing Corporation (KHC) has issued guidance to housing partners regarding housing issues and increased needs as a result of the recent storms that affected the state. More specifically, KHC is informing multifamily project owners that most damage-related replacement costs are eligible for reimbursement from Reserve for Replacement (R4R) accounts.

Reps. Patrick Tiberi (R-OH) and Richard Neal (D-MA) recently sent a letter to members of Congress urging their support of H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9% low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act.

HUD is revising the Actual Modernization Cost Certificate (AMCC) contained within the Public Housing Capital Fund Program, and is soliciting comments from the public regarding proposed changes to the program.

HUD’s Office of Policy Research & Development has released its U.S. Housing Market Conditions Report for the 4th Quarter of 2011. The report is a compilation of statistical data and written reports. Tabular data indicate market conditions on the national level and are presented for each quarter.

The Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2012-8 which will extend the deadline for consideration of Community Reinvestment Act (CRA) activities in areas that were affected by hurricanes Rita and Katrina.

In response to a growing number of requests to modify the restrictive covenants of housing credit apartment communities, the Ohio Housing Finance Agency (OHFA) recently established Restrictive Covenant Modification Guidelines for the review of modification requests.