News

On September 29, House Democrats released a scaled down COVID-19 relief proposal, calling it an updated Heroes Act, with a price tag of $2.2 trillion. The bill is nearly $1 trillion less than the earlier version and includes new relief for the airline, restaurant and other hardest-hit industries, as well as additional funds to support education and childcare. Despite the lower price tag, negotiations between the House, White House and Senate are not progressing, and it seems unlikely that they will reach agreement to enact further large-scale relief before the election.

A new NCSHA report said that as of September 14, between 10 and 14 million renter households were behind on rent between $12 and $17 billion. The households are home to 23 to 24 million people. The overdue rents will grow to between $25 and $34 billion when the CDC eviction moratorium ends on December 31.

HUD published a final rule on its implementation of the Fair Housing Act’s disparate impact standard, which will become effective October 24. HUD’s office of Policy Development and Research issued a notice designating Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs) for 2021 LIHTC properties.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 397 Community Development Financial Institutions (CDFIs) $204.1 million in awards.

The calendar year (CY) 2020 New Markets Tax Credit (NMTC) notice of allocation availability (NOAA) references a new requirement for applicants to complete and save their NMTC application registration within the Awards Management Information System (AMIS) by October 9 at 5 p.m. ET.

For the past ten years, the American Housing Survey (AHS) has been under the stewardship of Dr. Shawn Bucholtz. Shawn left HUD to become the chief data officer at the Federal Housing Finance Agency (FHFA).

Minnesota Housing will hold a hearing on its proposed 2022-2023 QAP on October 21 from 10 to 11 a.m. CT. Minnesota Housing plans to release a revised 2022-2023 QAP Self-Scoring Worksheet, and methodologies for LIHTC and deferred projects in mid-October. The second round of public comments will run from October 12 through 5 p.m. CT on October 26.

The late Justice Ruth Bader Ginsburg will lie in repose at the Supreme Court today and tomorrow and lie in state in the Capitol on Friday, the first woman to ever receive the honor. The passing of Supreme Court of the U.S. (SCOTUS) Justice Ginsburg dramatically changes the legislative outlook for the remainder of 2020.

The Board of Governors of the Federal Reserve System (Federal Reserve) unanimously approved the Advance Notice of Proposed Rulemaking (ANPR) on Community Reinvestment Act (CRA) reform. The ANPR uses a data-driven approach and solicits feedback in several areas. Comments are due 120 days after official publication in the Federal Register. NH&RA is still reviewing the ANPR with plans to submit comments and encourages our members to do so as well.

HUD published Notice Housing H-2020-09/PIH-2020-26 on providing supplemental COVID-19 guidance for PHAs and owners converting properties through RAD. The Notice describes the availability of Operating Fund Coronavirus Aid, Relief and Economic Security (CARES) Act funds for public housing properties that have converted or that will convert in calendar year 2020 and that are still supported through public housing appropriations.

The Rural Housing Service (RHS) at the U.S. Department of Agriculture (USDA) is proposing to amend its regulation to implement changes related to the development of a sustainable plan for the Rental Assistance (RA) program, including new RHS flexibilities in the managing of the RA distribution and integrate new asset management policies.

The Community Development Financial Institutions (CDFI) Fund published a notice of allocation availability (NOAA), making $5 billion in New Markets Tax Credit (NMTC) allocation authority available for the 2020 NMTC allocation round. Applications are due November 16.