HUD

Novogradac & Company LLP updated the Novogradac Rent & Income Limit Calculator© to include the U.S. Department of Housing and Urban Development’s (HUD’s) fiscal year 2015 rent and income limit data.

U.S. Senators Rob Portman (R-OH) and Jeanne Shaheen (D-NH) introduced a bill to encourage energy efficiency in housing that is subsidized by the federal government. The Energy Savings and Industrial Competitiveness Act of 2015 (S. 720) authorizes the U.S. Department of Housing and Urban Development’s pay-for-success (PFS) demonstration to improve the energy efficiency of government-supported multifamily properties.

On March 24, 2015, from 2:00-4:00pm EST, the U.S. Department of Housing and Urban Development Rental Assistance Demonstration (RAD) Team will offer a training on the relocation rules applicable to 1st Component public housing conversions.

The U.S. Department of Housing and Urban Development announced it awarded $150,369,989 in rental assistance to 25 state housing agencies. The awards will support the state agencies in providing permanent affordable rental housing and supportive services to extremely low-income persons with disabilities.

The U.S. Department of Housing and Urban Development released FY 2015 Income Limits. The income limits determine who’s eligible for HUD assisted housing programs.

Affordable Housing Finance released its list of the top affordable housing lenders for 2014. Seventeen NH&RA members were included on the list, with Citi Community Capital in the #1 spot for the sixth year in a row.

HUD announced a series of clarifications that are effective immediately and will be reflected in a revised Multifamily Accelerated Processing (MAP) Guide. They focus on equal pay-in, bridge loans, identity of interest, subordinate debt, vacancy rates, and developer fees.

Representatives from more than 100 of the nation’s top affordable housing organizations gathered at the Ocean Reef Club in Key Largo, FL, last week for the 2015 NH&RA Annual Meeting. The event’s panel sessions created dialogues on what’s challenging – and exciting – affordable housing developers, illuminated the products and people who will shape the tax credit transactions in upcoming year, offered options to properties approaching year 15, and surveyed key changes to tax credit programs and legislation.

NH&RA’s first-ever Public Housing Joint Venture Symposium offered attendees a unique opportunity to gain insight into the progress and updates to key HUD programs. More than 100 developers, syndicators, lenders, and other members of the affordable housing community gathered to voice their concerns and questions to HUD representatives, as well as connect with peer organizations who are working on similar issues.

HUD recently published a notice in the Federal Register to announce the fiscal year (FY) 2015 Annual Adjustment Factors (AAFs).

HUD recently released an interim rule to govern the implementation of the Housing Trust Fund, including establishing the regulations that will govern the funds and the formula that will determine how funds are distributed.

On February 2, President Barack Obama introduced his fiscal year (FY) 2016 budget, requesting a total of $49.3 billion for Department of Housing and Urban Development (HUD) programs and proposing significant policy changes aimed at improving the Low-Income Housing Tax Credit (LIHTC) program and a proposal to modify and permanently extend the New Markets Tax Credit (NMTC) program.