COVID-19

Minnesota Governor Walz signed Emergency Executive Order 20-14 suspending evictions and writs of recovery for the term of the COVID-19 peacetime emergency. This Executive Order keeps people stably housed and prevents displacement during this health emergency.

For all Maryland Department of Housing and Community Development (Department) Community Development Administration (CDA) cash-flow loans, the deadline for submitting property audits is extended 30 days from April 1 to May 1. No prior notification to the Department is required to take advantage of this extension. No penalties for submission after April 1 but by May 1 will be assessed. Any prior penalties are unaffected.

The District of Columbia, Maryland and Virginia (DMV) have all extended their shelter in place orders and issued moratoriums on foreclosures and evictions.

The Leading Voices in Real Estate podcast with host Matt Slepin recently held a special episode on COVID-19’s Impact on Commercial Real Estate with  Spencer Levy, chairman, Americas Research & senior economic advisor at CBRE. Levy outlines the potential implications the pandemic has across various sectors including multifamily, retail, industrial and office and digs into the impacts on a few specialty product types like co-working, seniors housing, data centers and self-storage.

The 2020 Housing Tax Credit Contribution (HTCC) Program Guidelines were updated and include new compliance requirements for 2020.  In addition to the Program Quarterly Progress Report, any applicant required to submit a report for the first quarter of 2020 (January 1 – March 31) and all subsequent quarters should include the following:

Loan Closings and Ownership/Title Transfers have been temporarily suspended during the period of the Coronavirus emergency.

On Monday, March 23, Indiana Governor Eric Holcomb issued Executive Order 20-08 entitled “Directive for Hoosiers to Stay at Home.”

Governor John Carney and Delaware State Housing Authority (DSHA) Director Anas Ben Addi announced a new program to provide emergency housing assistance to renters affected by shutdowns, closures, layoffs, reduced work hours or unpaid leave due to the COVID-19 health crisis.

The Arizona Department of Housing is suspending the requirement to submit hard copy materials for Rental Projects until further notice when ADOH issues an information bulletin requesting them. 

LIHTC Applications
Due to the current situation with COVID-19, we have extended the application due dates for the upcoming LIHTC round as follows:

Virginia Housing will be holding a WebEx session on Friday, April 3, 2020, at 9:00 am EST to discuss the impact of COVID-19 on our rental housing programs and portfolio and response to those impacts.

In light of COVID-19 developments, guidance from the Centers for Disease Control and Prevention (CDC), and Governor Walz, many property owners and property management staff are making efforts to practice social distancing and minimize unnecessary social contact to the greatest extent possible.