News

HUD’s Office of Asset Management and Portfolio Oversight (OAMPO) has issued a memo providing instructions for processing special claims for vacancy for properties affected by COVID-19. This memo expands the applicability to properties being developed under the Rental Assistance Demonstration (RAD) program. For properties undergoing initial rent-up the 60 days starts as of the date of the permission to occupy the unit or the effective date of the contract, whichever is later.

HUD’s Multifamily West Region is extending the audited financial reporting deadlines until September 30, 2020. This waiver is limited to entities, which are required to submit the referenced annual financial information on or before June 30, 2020.

The Health@Home webinar series consists of four webinars that provide affordable housing rehabilitation specialists and program managers with information on integrating healthy housing techniques into their rehabilitation projects and best practices from practitioners who have successfully implemented these techniques.

The Urban Institute argues that the new CRA regulations suffer from four big problems: (1) There is no evidence of the impact of the new regulations; (2) The primary metric used for assessing CRA compliance neglects community needs; (3) The regulations create a limited and unforgiving test on retail and community development lending, with limited community coverage; and (4) Public data will be lost while bank reporting burdens will increase.

The National Low Income Housing Coalition released its annual Out of Reach report, which shows that even before the onset of the COVID-19 public health and economic crisis, millions of workers were struggling to afford their homes.

In a recent issue of Health Affairs focusing on investments in social determinants of health, a new study examined how renovations of a property in Queens, NY that converted through RAD may improve the health of public housing residents.

HUD released the full report, “Examining the Effects of the Rental Assistance Demonstration (RAD) on Children Living in Public Housing in Fresno, California,” which assessed outcomes and the well-being of children living in developments that have undergone rehab and conversion under RAD.

The DC Council voted to approve the fiscal year 2021 budget, which includes a ten-year extension of DC’s rent control program and $9 million in additional funding for the Housing Production Trust Fund.

The Connecticut Housing Finance Agency (CHFA) extended the COVID-19 multifamily financial relief period through December 31, 2020. Any mortgagor of a multifamily rental housing development in CHFA’s portfolio experiencing financial distress due to COVID-19, beyond the financial ability of the mortgagor to correct or mitigate, may contact CHFA to request its assistance. For more information, […]

Last week the House of Representatives passed a $1.5 trillion infrastructure package (H.R. 2), which includes several housing provisions. A summary of the housing provisions in the bill can be found here. The measure passed by a vote of 233 to 188, with three Republicans crossing party lines to support it and two Democrats breaking […]

On June 7, 2020 the House Appropriations Committee released its draft fiscal year 2021 Transportation, Housing and Urban Development, and Related Agencies funding bill. The measure was adopted by the Subcommittee on July 8, 2020.  The measure heads next to the Full Committee for an additional markup.  The bill provides a total of $50.6 billion […]

On June 30, 2020 Governor Andrew Cuomo signed into law S. 8192B, which prohibits evicting tenants for unpaid rent accrued between March 7 and the compete reopening of their area, so long as a tenant can prove in court that they experience financial hardship during that period.  A judge can still issue a money judgement against the tenant.

On July 1, 2020, HUD published Housing Notice (2020-7), Coronavirus Aid, Relief, and Economic Security (CARES) Act Eviction Moratorium that extends the moratorium on evictions for all HUD-insured or HUD-held mortgages while under forbearance, and also provides guidance on tenant protections for multifamily properties not subject to forbearance and those with HUD-assisted units.