HUD

HUD released a new Section 8 Renewal Policy Guide containing comprehensive guidance for renewing expiring Section 8 Housing Assistance Payment (HAP) contracts. The guide includes some policy changes, which will be effective for all renewal or amend rent packages received by the Department after November 5, 2015.

Nancie-Ann Bodell has been selected to permanently lead the Department of Housing and Urban Development Office of Asset Management and Portfolio Oversight (OAMPO). Nancie-Ann has spent more than 25 years in the Office of Multifamily Housing at HUD.

USA Properties Fund will begin construction on a much-needed affordable senior community in Aliso Viejo, a city in southern Orange County. The 202-apartment community will offer affordable housing to seniors 55 years and older with household incomes between 50% and 60% of the area median income for the county.

Lancaster Pollard worked with the owners of a Sec. 202 affordable seniors housing property in Oakland, CA, that needed significant rehabilitation. Lancaster Pollard ultimately advised on the sale of Northgate Terrace for $27.5 million to WNC, which will perform a complete renovation of the existing property at a total cost of $47 million, including the acquisition and renovation.

A report from the Government Accountability Office suggests that a joint administration between the IRS and the Department of Housing and Urban Development (HUD) would benefit the Low-Income Housing Tax Credit Program.

The Obama Administration announced a new solar initiative to increase access to solar energy, including low- and moderate- income communities, and expand opportunities join the solar workforce. Among several key components, the initiative aims to install 300 megawatts of renewable energy in federally-subsidized housing.

The U.S. House of Representatives passed a bill that would help leverage private investment to fund upgrades to water and energy systems in aging HUD-assisted housing. The bill will go next to the Senate for consideration.

The U.S. Department of Housing and Urban Development announced a Small Building Risk Sharing Initiative, which aims to facilitate the financing of small multifamily properties. HUD is looking for both “Mission Based Lenders,” including Community Development Finance Institutions (CDFIs), other nonprofit lenders, public and quasipublic agenices, and “Private Lenders” that are approved as FHA MAP Lenders to participate in the program as Qualified Sharing Program Entities (QPEs).

The U.S. Department of Housing and Urban Development (HUD) released a final rule on affirmatively furthering fair housing. The rule clarifies existing fair housing obligations and indicates that HUD will provide open data and technical assistance for HUD grantees to meet those obligations.

A FY-2014 report from the Housing Assistance Council provides an overview of the United States Department of Agriculture’s (USDA) rural housing loan and grant obligation activity. For multi-family programs, the report looks at how Section 515 funds, multi-family housing vouchers, and rental assistance contracts were awarded.

The U.S. Department of Housing and Urban Development published June 15 a revised Rental Assistance Demonstration (RAD) Notice. On Friday, July 10th, HUD will hold live Q/A sessions on the revised RAD Notice that was published on June 15, 2015.

The Senate Appropriations Subcommittee on Transportation, Housing and Urban Development approved Tuesday a FY-2016 THUD funding bill that slashes funds for the HOME program, which often provides vital funding for housing credit developments.