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Rolling Back Davis-Bacon Wage Requirements?  

RAD Component II PBRA transactions no longer require Davis-Bacon wages, pursuant to new notice.

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Categories: HUD; RAD

Crackdown on Anonymous LLC Real Estate Purchases 

Owning real estate through a limited liability company (LLC) often provides many benefits, but Federal law enforcement officials are now requiring a greater number of disclosures in connection with these LLCs.

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Categories: AFHS Alerts; Condominiums and Cooperatives

Can I Have A Guest Suite? 

HUD Multifamily allows limited guest suites.

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Categories: HUD

New Deferred Developer Fee Procedure 

A new HUD waiver modernizes deferred developer fee practices.

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Categories: HUD

New Large Borrower Approval Procedures 

HUD concentration of risk protocols carefully balance realities of larger borrowers by allowing them with greater underwriting review.

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Categories: HUD

HUD Issues New Section 8 Rent Comp Study Memo 

HUD has issued recent guidance to streamline the process for analyzing rent comparability reviews.

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Categories: AFHS Alerts; HUD

New HUD Inspection Guidance and New Penalties 

HUD Notice 2018-18 addresses recent statutory enforcement issues and adds enforcement steps for MultiFamily properties.

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Categories: REAC; HUD

A first look at the IRS's proposed regulations on opportunity zones 

We explore how the new Opportunity Zone Proposed Regs and Revenue Ruling 2018-29 affect the how, what, when and who of Opportunity Zones, as well as a collection of other notable issues.

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Categories: AFHS Alerts

Opportunity Zone rules—what will they say? 

The 30 member strong Nixon Peabody, LLP Opportunity Zone Working Group has blogged, written and lectured for the past 10 months about Opportunity Zones. Today Treasury has released proposed rules for what Is described as a $100 billion real estate and business opportunities in 8700 low income communities around the US.

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Categories: AFHS Alerts

Decision Calls into Question Validity of Administrative Hearings 

This recent Supreme Court decision calls into question the validity of recent proceedings held before administrative law judges, including HUD administrative judges.

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Categories: HUD

RAD updates bring Christmas in July – higher rents, expanded rent-bundling and more! (Part 2: Supplemental Guidance) 

(Part 2 of 2) Two HUD RAD notices this week bump up initial rents for RAD 1 transactions, allow comparable market rents for new Rent Supp & RAP PBRA conversions in high cost areas, intro five new innovations and implement certain RAD updates from the FY 2018 Appropriations Act.

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Categories: AFHS Alerts; HUD; Project-Based Vouchers; RAD

RAD updates bring Christmas in July – higher rents, expanded rent-bundling and more! (Part 1: FY 2018 Approps implementation) 

(Part 1 of 2) Two HUD RAD notices this week bump up initial rents for RAD 1 transactions, allow comparable market rents for new Rent Supp & RAP PBRA conversions in high cost areas, intro five new innovations and implement certain RAD updates from the FY 2018 Appropriations Act.

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Categories: AFHS Alerts; HUD; RAD; Housing Authorities

How the White House Reorg Plan Affects Housing 

The White House’s reorg plan proposes GSE reform, moving CDBG to Commerce, moving USDA’s RD to HUD and creating a Council on Public Assistance.

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Categories: HUD; Fannie Mae; Freddie Mac; Rural Housing

HUD’s New Demo/Dispo Notice Could Be a Game-Changer for Combining RAD & Non-RAD PBVs 

HUD’s latest guidance on Section 18 demolitions and dispositions of public housing permits more dispositions and makes it easier to combine RAD PBVs with traditional PBVs in some cases.

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Categories: HUD; RAD; Project-Based Vouchers

How would you shape RAD for PRAC? HUD wants to know.  

HUD seeks industry perspective as it finalizes RAD for PRAC policies and prepares revisions to the RAD Notice.

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Categories: RAD; HUD

First Steps in Planning for Opportunity Zones  

The recent Internal Revenue Service Frequently Asked Questions provide initial clarity on formation of Opportunity Zone Funds.

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Categories: AFHS Alerts; DC Metro Area; Massachusetts; New York and Northeast; Tax; LIHTC; New Markets Tax Credits

The Latest On Opportunity Zones – A New York Perspective 

New York designated 514 O-Zones, awaiting approval from the US Treasury Department in the next three weeks. O-Zones were selected based on local input on how best to attract private investment.

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Categories: AFHS Alerts; Tax

Governor Cuomo Announces "Vital Brooklyn" 

Governor Cuomo yesterday announced the issuance of an RFP for four sites in Central Brooklyn under an initiative entitled “Vital Brooklyn.”

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Categories: New York and Northeast

A Reflection on HDFC Coops -- Join the NYCBA Conversation May 1st 

On May 1, 2018, the New York City Bar Association Committee on Housing and Urban Development is hosting a talk on HDFC Coops. Nixon Peabody Partner Erica F. Buckley shares her thoughts on the topic, and urges everyone to join the conversation.

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Categories: AFHS Alerts; Condominiums and Cooperatives; Housing Authorities; Housing Production Trust Fund; HUD; New York and Northeast

Massachusetts Opportunity Zones Designated by Gov. Baker 

Yesterday Massachusetts Governor Charlie Baker announced that he had submitted 138 census tracts to the U.S. Department of Treasury for Opportunity Zone designation.

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Categories: AFHS Alerts

Important New Changes to California’s Planning and Zoning Laws Regarding Assisted Housing Developments 

Important changes to California’s planning and zoning laws, which amend sections 65863.10 and 65863.11 of the California Government Code. These new provisions involve amended notice requirements, purchase restrictions, and offer and acceptance requirements on housing developments receiving government assistance.

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Categories: California and West Coast

What's New in New York State Housing Credits? 

The 2018 New York State budget adopted on Saturday, March 31st included several measures which will aid in the further development of affordable housing.

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Categories: Tax; LIHTC; New York and Northeast

Important New Changes to LIHTC Law Made by Consolidated Appropriations Act of 2018 

Congress just passed the new spending bill, the Consolidated Appropriations Act of 2018.

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Categories: Appropriations Legislation; LIHTC

What is the Opportunity Zone? 

The new Opportunity Zones program in the recent tax law are coming into focus as a potentially important community development tool. Each state resident interested in a particular community should check in that state about designating their community. Beyond that there are many implementation requirements and opportunities to learn about.

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Categories: Tax; New Markets Tax Credits

Opportunity Zones: New Community Development Program Hidden in Tax Cuts and Jobs Act 

Buried within the Tax Cuts and Jobs Act is a provision creating “Opportunity Zones” which can allow for new sources of community development capital

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Categories: AFHS Alerts; Community Development; Massachusetts

MassHousing appoints Chrystal Kornegay as Executive Director 

On January 9, 2018, MassHousing’s Board of Directors voted to appoint Chrystal Kornegay as Executive Director

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Categories: AFHS Alerts

Tax Cuts and Jobs Act Roundup 

The recent tax law, called the Tax Cuts and Jobs Act, contains many provisions across several important areas.

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Categories: Tax

Real Estate Finance Bureau issues new guidance on the importance of broker-dealer registration status for all real estate filings 

The New York AG's office issues guidance requiring a current M-10 Broker-Dealer Registration Statement as part of all amendment submissions for offering plans (excluding price change only amendments).

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Categories: AFHS Alerts

Cape Cod affordable housing crisis deepens: Cape Cod Commission’s Regional Housing Market Analysis and 10-Year Forecast 

The Cape Cod Commission recently released its Regional Housing Market Analysis and 10-Year Forecast of Housing Supply and Demand for Barnstable County, Massachusetts.

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Categories: AFHS Alerts

Study documents success of Massachusetts Community Investment Tax Credit program 

The Massachusetts Association of Community Development Corporations recently released a report evaluating the effectiveness of the Massachusetts Community Investment Tax Credit (CITC) program during its first three years of operation.

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Categories: AFHS Alerts; Massachusetts

Boston fund to help nonprofit developers compete for sites 

Boston’s Mayor Martin J. Walsh recognizing the increasing need to provide affordable housing options in the city in order to preserve the diversity and character of Boston has created a fund to assist nonprofits to acquire properties for affordable housing.

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Categories: AFHS Alerts; Massachusetts; Non-profit Funding; Section 8 Renewal Contracts

California Governor signs historic new housing legislation 

These 15 new laws address the needs of Californians most impacted by the state's worsening housing catastrophe.

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Categories: AFHS Alerts; California and West Coast; Community Development

Helping poor families/appreciating landlords  

Two recent articles explore key issues in providing housing to low-income families. The August 10th Washington Post notes increasing demand for the very programs the Trump Administration seeks to limit. The August 4th Washington Post op-ed piece seeks to encourage owners to work with poor renters.

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Categories: HUD

Updated NY condo/co-op disclosure requirements close a "loophole" involving wire transfers 

The New York Attorney General’s Real Estate Finance Bureau recently published a policy memorandum clarifying how a revision to the FinCEN Geographic Targeting Order (GTO) affects disclosure requirements for New York City co-op and condo offering plans.

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Categories: Condominiums and Cooperatives

HUD issues notice on additional RAD 1 units 

HUD provides guidance with respect to additional RAD units and the establishment of the initial rents for new and replacement RAD units.

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Categories:

HUD issues Notice of Increase in RAD Cap and Rent Setting 

HUD issues notice implementing appropriations language increasing RAD 1 cap.

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Categories: HUD

Massachusetts announces 25 recipients of 2017 low income housing tax credits 

Twenty-five projects across Massachusetts received $28 million in federal and state low income housing tax credits in an announcement by Governor Charlie Baker on Tuesday, August 15.

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Categories: LIHTC

The NYAG moves further in the digital direction  

The New York Attorney General issued a new alert that all acceptance letters for offering plans, amendments, cooperative policy statements, and no-action letters will be delivered to the attorney of record for sponsor in digital form, a sign that the NYAG is committed to moving in the digital direction.

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Categories: AFHS Alerts; Condominiums and Cooperatives

Boston affordable housing rally 

On July 31st, over 500 affordable housing advocates from across Massachusetts rallied in support of affordable housing in the Our Homes, Our Voices: Rally for Affordable Homes in downtown Boston.

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Categories: Fair Housing; Massachusetts

HPD issues proposed rules on Affordable New York Housing Program – guidelines for building service worker and construction worker wages 

This is the second of three installments on the proposed rules and application for the Affordable New York Housing Program (aka 421-a) as released by the NYC Department of Housing Preservation and Development (HPD). This installment covers the new rules on prevailing wage and construction wage requirements, with an emphasis on oversight and enforcement.

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Categories: AFHS Alerts; Condominiums and Cooperatives; Tax

How do I learn more about converting mod rehab to PBRA? 

RAD is moving briskly, converting project based subsidy from old and expiring programs, and from public housing subsidy, to Section 8 project based vouchers and project based rental assistance. However, existing moderate rehabilitation properties have not participated at the same level as other kinds of apartment complexes.

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Categories: Section 8 Renewal Contracts; RAD; HUD

Who should be the Partnership Representative? 

Managing partners and investor partners should mindfully designate a “Partnership Representative” before 2018 begins.

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Categories: Tax

FHFA seeks comments on housing goals 

The Federal Housing Finance Agency (FHFA) issued an announcement of a proposed rule with a request for comments on the housing goals for Fannie Mae and Freddie Mac for 2018-2020. Comments are due September 5, 2017.

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Categories: Fannie Mae; Freddie Mac

HUD issues revised Violence Against Women Act (VAWA) guidance 

On June 30, 2017, HUD issued a new notice implementing the Violence Against Women (VAWA) Reauthorization Act of 2013 for multifamily owners and management agents

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Categories: HUD

HUD issues new Section 8 Renewal Policy Guide 

HUD published revisions to the Section 8 Renewal Policy Guide on June 30, 2016. This important guidance directs HUD staff and program participants as they process renewal of Section 8 project-based contracts.

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Categories: Section 8 Renewal Contracts; HUD

ICYMI: Center for Medicare & Medicaid Services extends requirements to prevent Legionella in hospitals and long-term care facilities 

Following several recent outbreaks of Legionnaires' Disease (a type of pneumonia caused by the Legionella bacterium) in hospitals and long-term care facilities, the Center for Medicare & Medicaid Services (CMS) recently distributed a memo to all State Survey Agency Directors requiring certified health care facilities to assess their Legionella risk and develop facility-specific water management plans to inhibit microbial growth.

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Categories: Environmental; Seniors Housing and Care

Hebrew Senior Life spearheads elder abuse prevention initiative 

Hebrew SeniorLife, a national leader in senior services based in Boston, is spearheading an effort to improve the prevention and identification of elder abuse as part of the commemoration of World Elder Abuse Awareness Day.

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Categories: AFHS Alerts; Seniors Housing and Care; Elderly Housing--Section 202

HPD issues proposed rules on Affordable New York Housing Program - guidelines for affordable units 

NYC Housing Preservation and Development recently issued two proposed sets of rules governing the Affordable New York Housing Program. This is the first of three installments in which we will dissect the new rules and the application.

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Categories: AFHS Alerts; Community Development; Condominiums and Cooperatives; Tax

The Trump administration issues its FY2018 budget 

The Trump Administration issued its FY2018 federal Budget this morning. As anticipated it is long on cuts, short on funding and likely to face significant opposition. www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/budget.pdf

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Categories: HUD; Appropriations Legislation

New Supreme Court decision widens class of potential plaintiffs in Fair Housing Act cases 

The Supreme Court today issued a decision in Bank of America Co. v. City of Miami, that authorizes courts to broadly apply the concept of an “aggrieved party” under the Fair Housing Act, while directing lower courts to examine on remand whether the alleged injuries – including increased foreclosures and reduced tax collections – were proximately caused by the banks’ alleged predatory lending practices. The attached article discusses the decision and its implications.

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Categories: Fair Housing; AFHS Alerts

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