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New York State Adopts Source of Income Fair Housing Protections 

Joining a growing list of states and local governments, New York State just adopted a law prohibiting housing discrimination on the basis of source of income, including use of Section 8 vouchers.

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Categories: Fair Housing; New York and Northeast; Vouchers--Tenant-based, project-based

HUD Proposed Revisions to Section 3 Regulations 

Proposed regulatory changes focus on retention over initial hiring and results over process.

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Categories: HUD

HUD guidance on Section 22 Voluntary Conversion allows small PHAs to convert to Section 8  

PHAs with 250 units or less can convert to Section 8 through a new process.

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Categories: HUD

Want to Build a Section 202 Project? Money is available! 

For the first time since 2010, HUD issues a NOFA for Section 202 funds.

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Categories: HUD

Grounds for delaying REAC inspections 

On March 21, Deputy Assistant Secretary for Multifamily issued a memorandum to HUD in the field and owners and management agents regarding delaying REAC inspections beyond the new 14-day timeline.

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Categories: HUD

RAD for PRAC Guidance Published for Comment 

HUD released draft guidance on RAD for PRAC, asking for comments by March 12. The guidance is responsive to industry concerns, but the biggest question – rents – remains uncertain.

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Categories: RAD; HUD

HUD Announces Major Changes to Physical Inspection Protocol 

HUD is shortening notices of REAC inspections to 14 days; more changes to come.

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Categories: HUD; REAC

Ask the Former Regulator 

Erica Buckley is working with the New York Law Journal on a new column, “Ask the Former Regulator.” Learn more and submit your questions.

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Categories: New York and Northeast; Condominiums and Cooperatives

NYCHA and HUD Announce Agreement for Third-Party Monitor 

HUD and SDNY will select a monitor with broad authority over NYCHA, paid for by the City of New York. NYCHA and the City, not HUD or the monitor, retain control over NYCHA’s day to day activities.

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Categories: HUD; Housing Authorities

The Shutdown's Impact on Affordable Housing 

Affordable housing advocates have been blogging and posting for some time now about the federal government shutdown. As it enters its second month we reach uncharted territory. While the worst case scenarios have been avoided so far for most, they have not been avoided for all.

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Categories: HUD

What is the New White House Opportunity Zone Council? 

The Administration today announced the President's Executive Order on Establishing the White House Opportunity and Revitalization Council.

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Categories: Tax

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

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