HUD

HUD released a draft notice on ‘‘Guidelines for Certain HUD Approvals Regarding Properties Encumbered by HUD-Held Mark-to-Market Program Debt and Portfolio Reengineering Demonstration Program Debt.”

HUD recently published a Notice of Funding Availability (NOFA) for the FY2020 Choice Neighborhoods Implementation Grant Program. Applicants may request up to $30 million for target housing projects with less than 250 public housing/assisted units or up to $35 million for target housing projects with 250 or more public housing/assisted units.

Opportunity Zones (OZ) led to Qualified Opportunity Funds raising $75 billion in capital by the end of 2019, according to a Council of Economic Advisers (CEA) report released on August 24.

The Affordable Housing Tax Credit Coalition (AHTCC) announced recipients of the 2020 Charles L. Edson Tax Credit Excellence Awards, recognizing some of the most outstanding affordable housing developments across the country. Congratulations to the four NH&RA members receiving awards!

HUD published a notice of fiscal year (FY) 2021 fair market rents (FMRs) for the Housing Choice Voucher program, Moderate Rehabilitation Single Room Occupancy program and other HUD programs. Comments on the notice are due September 30 and the FMRs will be effective October 1.

The Arizona Department of Housing (ADOH) issued updated compliance guidance for rental properties with LIHTC, HOME, state and national Housing Trust Fund and Neighborhood Stabilization Programs funding sources. IRS Notice 2020-53 allows income recertifications to be delayed for the remainder of the year. However, it does not delay or exempt owners/agents from ensuring LIHTC households are still meeting student eligibility requirements.

Louisiana Housing Corporation’s (LHC) Board of Directors approved $212 million to develop 1,633 affordable rental units across six Louisiana parishes. LHC’s Board of Directors also approved a resolution to adopt the state’s 2021 QAP.

HUD recently announced that Minnesota Housing was one of 12 housing finance agencies from around the country selected to receive a Section 811 Project-Based Rental Assistance (PRA) Program grant. Minnesota Housing is working with HUD to finalize the selection in the coming months. Eligible

Over the weekend, President Trump issued three COVID-19 related executive orders (EO) on “Deferring Payroll Tax Obligations,” “Providing Assistance to Renters and Homeowners” and “Other Needs Assistance Program.” The presidential action comes as Congressional and White House negotiations over the next COVID-19 aid package have stalled.

HUD announced that it will begin Real Estate Assessment Center (REAC) inspections of HUD multifamily and public housing properties and units later this year. REAC will prioritize inspections in states and localities based on the latest COVID-19 data from Johns Hopkins University and health risk scoring methodology from the Harvard Global Health Institute.

The Maryland Department of Housing and Community Development (DHCD) posted the 2020 LIHTC Program Income and Rent Limits. DHCD also updated the FAQ document for the 2020 competitive funding round.

Oregon Housing and Community Services (OHCS) announced funding awards of $60,822,101 worth of grants and tax credits to build and preserve 802 homes through the federal nine percent LIHTC, HOME and General Housing Account Program (GHAP) resources. The Oregon Housing Stability Council recently approved the developments listed below; full details can be found here.