March 30: HUD issues Fiscal Year 2018 Income LimitsHUD issued Fiscal Year 2018 Income Limits for the Public Housing and Section 8 programs, effective April 1, 2018. The national median income the FY18 is $71,000, an increase of 5.7% compared with FY17. HUD will continue to cap increases at 11.5% (twice the national median income).
March 30: HUD announces Tenant Protection Voucher funding awards for FY17HUD issued an announcement of Tenant Protection Voucher funding awards for FY17 for the Housing Voucher Program. Announcements of awards provided under the NOFA process for Mainstream, Designated Housing, Family Unification (FUP), and Veterans Assistance Supportive Housing (VASH) programs will be published in a separate Federal Register notice.
March 30: NAHMAnalysis on Affordable Housing Appropriations for Fiscal Year 2018NAHMA released a new NAHMAnalysis titled “Affordable Housing and Community Development Programs: Appropriations for Fiscal Year 2018.” This NAHMAnalysis examines funding and policy provisions for affordable housing programs in the Fiscal Year 2018 omnibus bill, and provides an outlook for Fiscal Year 2019.
March 23: HUD Refinancing of Pre-1974 Section 202 Direct Loans; Issuance of TPVs or SPRACsHUD published a Notice to provide owners with pre-1974 Section 202 Direct Loans options to preserve and extend the affordability of their properties to the low-income elderly occupants for the duration of their loan terms, which will mature over the next 5 years, through project-based Tenant Protection Vouchers (TPVs) or Senior Preservation Rental Assistance Contracts (SPRACs).
March 19: MFH Site Manager and Maintenance Person of the Year program guidelinesRHS announced the FY18 guidelines for the annual MFH Site Manager and Maintenance Person of the Year program. Awards will be presented in mid-June, 2018, in the following four categories: Site Manager of the Year for Elderly Housing; Family Housing; Farm-Labor Housing; and Maintenance Person of the Year. The deadline to submit nominations is May 18, 2018.
March 15: HUD’s FAST Act Interim Final Rule effective March 12, 2018HUD’s interim rule aligns the current regulatory flexibilities with those provided in the Fixing America’s Surface Transportation (FAST) Act, including provisions regarding income recertifications, fixed income thresholds, family declaration of assets, and utility reimbursements. HUD also posted FAQs available online here.
March 14: HUD publishes MAP Guide Clarification, Security for Equity Bridge Loans MemoHUD issued a memo clarifying language found in the 2016 MAP Guide: In response to questions raised by stakeholders, the Memo confirms that HUD will allow equity bridge loans (EBLs) to be secured with a pledge of the general partner’s interest, in addition to the other means listed in the MAP Guide.
March 14: HUD’s PBCA Rebid DelayedHUD has cancelled both the HAP Contract National Support Services (HAPNSS) and HAP Contract Regional Support Services (HAPRSS) solicitations with the following message: “HUD is taking time to perform additional due diligence to ensure all comments and recommendations are considered in developing the final approach to obtaining the services to replace the current PBCA services….Future requirements will be initiated through a new solicitation, which is expected to take several more months to develop.”
March 8: HUD issues updated Resident Rights and Responsibilities BrochureHUD released an updated Resident Rights and Responsibilities brochure, which provides a summary of key resident rights and responsibilities for tenants living in Multifamily assisted housing along with resources and contact information for tenants needing assistance.
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