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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

New HUD administration's possible increased efforts on public-private partnerships 

Vince Bennett of McCormack Baron Salazar recently wrote an interesting article on the benefit of public-private partnerships and the inclusion of community development efforts in conjunction with housing development. Some of the results are quite impressive.

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Categories:

Fair housing future? Colorado court hints at direction of fair housing laws in Trump era 

What’s the future of fair housing in the Trump era? A new decision by a federal district court in Colorado suggests that, even if possible budget cuts and policy changes reduce HUD’s role, courts, state legislatures and city halls are prepared to pick up the slack in fair housing enforcement in coming years.

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Categories: Fair Housing

HUD issues guidance on additional management fees to implement a homeless preference 

Late last year HUD issued a Memorandum which allows management agents to charge both “special” and “add-on” management fees to cover the cost of implementing and maintaining a homeless preference.

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Categories: HUD

At NAHRO Conference, Sec. Carson calls for less regulation; discusses more holistic community development approach 

Secretary Ben Carson spoke Monday morning, March 27, at the annual DC conference of the National Association of Housing and Redevelopment Officials (NAHRO) focusing his remarks on the need to reduce burdensome regulation. He also discussed the idea of a more holistic approach to community development and bridging across traditional subject matter areas in order to address community needs. Is it possible that such an approach could find broader support in the Trump Administration?

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Categories: HUD

HUD guidance on “Letters of Interest” for the RAD Program 

The RAD program now allows PHAs to submit a Letter of Interest to be placed on the RAD Component 1 waiting list rather than submitting a whole application.

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Categories: RAD

Reactions to the Trump administration’s proposed budget 

Several prominent housing groups have released statements condemning the cuts to HUD’s affordable housing programs included in the FY 2018 budget proposal. This is a roundup of the key takeaways.

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Categories: HUD

OMB releases 2018 MAGA Budget Blueprint 

The cuts that were expected are in the Blueprint issued today. The 2018 Budget itself will be released in the Spring. An infrastructure group has been tapped to evaluate investment options and regulatory/administrative/policy changes.

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Categories: Appropriations Legislation; HOME Program; HUD; Section 8 Renewal Contracts; Rural Housing

Policy issues: will administration’s budget hit HUD hard? 

Press reports note that the Trump administration’s budget proposal, due shortly, presents $6 billion in cuts to HUD, which would see many key programs eliminated. Meanwhile, Sequestration under the Continuing Resolution would mean major cuts this summer.

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Categories: HUD

The Affordable Housing Credit Improvement Act of 2017 introduced in the Senate 

A bill was introduced in the Senate this week to strengthen the LIHTC program.

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Categories: LIHTC

ICYMI HUD issues updated FOIA rule 

HUD updates its FOIA reg to, amongst other things, require HUD to make available for public inspection in an electronic format, records that because of their subject matter, the agency determines have become or are likely to become the subject of subsequent requests for substantially the same records, OR that have been requested 3 or more times.

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Categories: HUD

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