HUD

The Department of Housing and Urban Development (HUD) has proposed draft Mortgagee Letters adjusting underwriting standards for affordable multifamily housing loans.

The recent changes to the HUD Rental Assistance Demonstration (RAD) program offer several potential benefits and implications for non-PHA (private owner) developers who wish to leverage the program for affordable housing initiatives.

NH&RA’s HOPE VI/Mixed-Finance Working Group, a council formed to find preservation solutions to a portfolio of severely distressed properties, submitted recommendations to HUD last week for criteria it should consider in determining whether a property is eligible for a Section 18 repositioning.

The recent announcement of over $279 million in new investments through HUD’s Green and Resilient Retrofit Program (GRRP) represents a significant boost for affordable housing developers, particularly those focused on multifamily rental units.

HUD has launched new guidelines and resources to bolster the nation’s affordable housing stock against climate-related challenges through rapid retrofitting and weatherization efforts.

HUD has published a housing notice that extends the date for multifamily housing owners to be fully compliant with two major sections of the Housing Opportunity Through Modernization Act (HOTMA) of 2016.

HUD released fair market rents (FMR) for fiscal year 2025 on Aug. 14, 2024, with an effective date of Oct. 1, 2024.  

HOME Investment Partnerships Program (HOME) grants are subject to the grant closeout requirements at 2 CFR 200.344, which require all grants to be closed out within one year of the end of the grant’s period of performance.

The U.S. Department of Housing and Urban Development published a notice in the Federal Register establishing 2025 difficult development areas (DDAs) and qualified census tracts (QCTs) for LIHTCs.

HUD recently announced a significant policy change that will impact developers involved in the LIHTC program.

The Department of Housing and Urban Development has issued a Request for Information (RFI) in the Federal Register to gather public feedback on its Choice Neighborhoods (CN) program.

Recent bipartisan efforts in Congress aim to address the affordable housing shortage by converting distressed and vacant commercial real estate into residential properties. Notably, the Revitalizing Downtowns and Main Streets Act, introduced by Representatives Mike Carey (R-OH) and Jimmy Gomez (D-CA), proposes a temporary 20 percent tax credit for converting underutilized commercial buildings that are at least 20 years old into affordable housing.