Multi-Family Finance

HUD released the 2023 operating cost adjustment factors (OCAFs) for project-based rental assistance with an anniversary date on or after Feb. 11, 2023.

Multifamily communities can work with local governments to apply for the 2021 Choice Neighborhoods Implementation Grant Notice of Funding Opportunity.

The Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs; Annual Indexing of Substantial Rehabilitation Threshold Notice was published in the Federal Register on September 9.

Align Finance Partners announced the closing of the $15 million refinance of Parkwood Apartments, a 55-unit, affordable multifamily property located in Santa Rosa, CA. The transaction, sponsored by Burbank Housing Development Corporation, utilized 501(c)(3) bonds, the company said.

HUD updated its Multifamily Q&A for COVID-19 on July 29. The updated questions and answers pertain to which payments are to be included in tenant income calculations for HUD-assisted Multifamily housing and the Child Tax Credit.

HUD’s Office of Multifamily Housing does not plan to offer a further blanket extension for annual financial statement (AFS) submissions for properties beyond the current extension through June 30, 2021.

HUD’s Office of Multifamily Housing Programs (MFH) is re-establishing the Tenant Rental Assistance Certification System (TRACS) Forum to encourage information exchange between property owners and agents, contract administrators, state housing finance agencies, housing and community development researchers, academics, policymakers and affordable housing practitioners.

HUD’s Office of Housing and the Federal Housing Administration (FHA) posted an updated Multifamily Q&A for COVID-19 as of April 2. To find new or revised answers in the PDF, you can search the date 4/2/21.

HUD published its final rule amending existing regulations for the Section 542(c) Housing Finance Agencies (HFA) Risk-Sharing Program. The final rule adopts without substantive changes the March 8, 2016, proposed rule. The rule is intended to better align the Risk-Sharing program regulations with current industry and HUD policies and practices and provide greater flexibility for […]

The Connecticut Housing Finance Agency (CHFA) extended the COVID-19 multifamily financial relief period through December 31, 2020. Any mortgagor of a multifamily rental housing development in CHFA’s portfolio experiencing financial distress due to COVID-19, beyond the financial ability of the mortgagor to correct or mitigate, may contact CHFA to request its assistance. For more information, […]

On July 1, 2020, HUD published Housing Notice (2020-7), Coronavirus Aid, Relief, and Economic Security (CARES) Act Eviction Moratorium that extends the moratorium on evictions for all HUD-insured or HUD-held mortgages while under forbearance, and also provides guidance on tenant protections for multifamily properties not subject to forbearance and those with HUD-assisted units.

On June 30, City Lab published an article on how developer Avalon Bay is converting a portion of the 41-year-old Alderwood Mall outside of Seattle into housing.