HUD

HUD awarded more than $51 million in Section 202 grants to nonprofit organizations across the country to finance more affordable housing construction, provide rental assistance and facilitate supportive services delivery for very low-income seniors.

The Internal Revenue Service (IRS) released Revenue Ruling 2020-04, which clarifies the manner to properly compute the 70 and 80 percent income limits applicable to the LIHTC under Section 42 of the Internal Revenue Code. The 70 percent limit is 140 percent or less of the income limit for a very low-income family of the same size and the 80 percent limited is 160 percent or less of the income limit for a very low-income family of the same size.

The Federal Housing Administration (FHA) posted a draft of Appendix 16 on Organizational Chart for Lease Structure of its 2020 Multifamily Accelerated Processing (MAP) Guide. To provide feedback, respondents must use the 2019 Draft MAP Guide Response Worksheet and e-mail the response worksheet to [email protected] by February 12.

In November, HUD and the White House Council on Eliminating Regulatory Barriers to Affordable Housing issued a Request for Information seeking public comment on Federal, State, local and Tribal laws, regulations, land use requirements and administrative practices that artificially raise the costs of affordable housing development and contribute to shortages in America’s housing supply. Comments […]

HUD released a proposed rule that would amend its Fair Housing Act design and construction regulations by incorporating by reference the 2009 edition of International Code Council (ICC) Accessible and Usable Building and Facilities (ICC A117.1-2009) standard, as a safe harbor.

HUD’s Office of Lead Hazard Control and Healthy Homes launched new training and web pages to help users review federal lead regulations and the Lead Safe Housing Rule Amendment for pre-1978 housing. The goal of these pages is to help Public Housing Agencies, grantees and owners respond to cases of elevated blood lead levels in […]

Missouri will conduct a series of public hearings on its Draft Fiscal Year (FY) 2020 Annual Action Plan, which governs the state’s allocation of the following HUD funds: Community Development Block Grant, HOME Program, Emergency Solutions Grant Program, Housing Trust Fund, Housing Opportunities for Persons with AIDS and Continuum of Care. The 30-day public comment period on the Fiscal Year (FY) 2020 Draft Action Plan begins January 15, 2020 and ends at noon CT on February 14, 2020.

Missouri will host a series of public hearings on its Community Development Block Grant (CDBG) – Mitigation plan, which will guide how the state spends $41 million specifically designated for mitigation. These funds will be used to implement projects at the local level that strengthen infrastructure and reduce future losses in areas that have experienced repetitive flooding as a result of the 2017 storms.

HUD released its 2019 Annual Homeless Assessment Report to Congress, which found that 567,715 persons experienced homelessness on a single night in 2019, a three percent increase over 2018. Homelessness among veterans and families with children continued to fall, declining 2.1 percent and 4.8 percent, respectively, in 2019.

In 2016, the Federal Housing Administration’s (FHA) Office of Multifamily Housing Programs introduced a voluntary green building standards program that allowed for a reduced annual mortgage insurance premium (MIP) at the rate of 0.25 percent for properties that are committed to green building practices. The reduced MIP for industry-recognized green housing encouraged owners to adopt higher standards for construction, rehabilitation, repairs, maintenance and property operations.

A bipartisan group of four Senators recently introduced a bill that would require that ten percent of the annual New Markets Tax Credit (NMTC) allocation be made to community development entities (CDEs) for investment in developments in Indian and Native lands

The U.S. House of Representatives passed the following financial services bills to support veterans, benefit investors, provide housing opportunities, hold regulators accountable, promote Minority Depository Institutions (MDIs) and improve cybersecurity: