HUD

HUD has released Notice H 2012-27 which clarifies portions of previously-issued Risk Mitigation HUD guidance concerning Project Capital Needs Assessment (PCNA) reports and requirements for sizing initial and annual contributions to Reserves for Replacements. The Notice indicates that the MAP Guide has been modified to implement risk mitigation measures and to align PCNA guidance for the multifamily insurance programs.

HUD has released Notice H 2012-25 which provides guidance on the circumstances under which HUD may consider amendments to Use Agreements for properties assisted under the Low-Income Housing Preservation and Resident Homeownership Act of 1990 (LIHPRHA). Congress enacted LIHPRHA in 1990 to prevent the loss of several hundred thousand FHA-insured affordable housing units and since then, HUD has overseen hundreds of properties.

HUD has announced that Margaret Salazar has been named Deputy Director of the Office of Affordable Housing Preservation (OAHP). Ted Toon, who previously held the position of Director of OAHP, is currently detailed as Acting Director of the Office of Multifamily Housing Development.

HUD has released information about resources and tools available to assist partners in dealing with the damage caused by Hurricane Sandy at HUD-assisted properties.

A new Senate bill introduced September 2012, S. 3538, would reduce administrative burdens and complexities for certain local public housing agencies (PHAs) that administer federal low-income housing programs. The purpose of the legislative measure is for PHAs to realize administrative savings, but the Center for Budget and Policy Priorities (CBPP) says the measure could present other, more harmful challenges.

HUD has published a list of workshop materials that were used at the Public and Indian Housing (PIH) Region IV Network Mixed Finance/Rental Assistance Demonstration (RAD) Workshop.

HUD has published its Final Fair Market Rents for the Housing Choice Voucher Program for Small Area Fair Market Rent Demonstration Program Participants for FY-2013. Effective Date: The FMRs published in this notice are effective on October 1, 2012.

NH&RA Member firm Lancaster Pollard recently published an article “HUD Updates: Refinancing 202 Properties” which details the recent changes HUD has made to the Section 202 program.

The Furman Center for Real Estate and Urban Policy at New York University (NYU), has released the preliminary results of its analysis of the incomes, rent burdens, and economic diversity of tenants residing in LIHTC developments.

HUD released a new memo on October 26, 2012 pertaining to the due dates for closing mixed-finance transactions.

HUD recently released the 2011 American Housing Survey (AHS) data, summary data tables and a public use file. The AHS is the largest regular national housing sample survey in the United States and provides a comprehensive analysis of the characteristics of U.S. housing units and occupants.

Marie Head, the Deputy Assistant Secretary of Multifamily Housing Programs at HUD announced that Theodore (Ted) Toon has been appointed Acting Director of the Office of Multifamily Housing Development in the Office of Multifamily Housing Programs.