Last week, Ballard Spahr in conjunction with CSG Advisors hosted its 7th Annual Western Housing Conference in Phoenix, Arizona. The Conference brought together a wide range of public and private housing professionals facilitating a dynamic conversation on current developments in government-assisted housing. The Conference opened with a “Washington Update” – a discussion on housing policy… Continue Reading
On May 17, 2016, HUD published a notice in the Federal Register to announce the issuance of the “Processing Guide for Previous Participation Reviews of Prospective Multifamily Housing and Healthcare Programs’ Participants” (the “Processing Guide”). A copy of the Processing Guide can be accessed here. HUD proposes that the Processing Guide be used to supplement the proposed rule published in August that announced… Continue Reading
For efficient closing of RAD transactions by December 31, 2015, public housing authorities and developers should remain mindful of the Office of Recapitalization’s recently released processing deadlines. Planning ahead and incorporating the following issuance dates into operating schedules will help ensure your projects advance in a timely manner: Upload all required Financing Plan documents no… Continue Reading
The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, have announced that they are quickly approaching their 2015 volume caps. In January of this year, the Federal Housing Finance Agency (FHFA), who regulates these agencies, released its 2015 scorecard which detailed 2014 activities and outlined 2015 priorities for the agencies. The scorecard retained the volume… Continue Reading
Last week, HUD has announced a proposed rule to implement protections arising under the Violence Against Women Reauthorization Act of 2103 (VAWA). The reauthorization added a number of programs covered by VAWA, including: HOME Investment Partnerships program for rental housing; Section 202 supportive housing for the elderly; Section 236 Rental Program; Section 811 supportive housing for people… Continue Reading
Before a robust crowd at the recent Best of the West in Affordable Housing Development and Finance conference sponsored by Ballard Spahr and CSG Advisors in San Francisco, the value and evolution of the U.S. Department of Housing and Urban Development (HUD) Rental Assistance Demonstration (RAD) program was a common point of discussion among panelists.… Continue Reading
Several exciting developments have recently brought changes to the affordable housing industry and we are inviting you to explore them with us at our fifth annual Western Housing Conference. Ballard Spahr and CSG Advisors are pleased to announce this year’s Best of the West in Affordable Housing Development and Financing conference on March 13, in… Continue Reading
Today, HUD hosted a focus group of nearly a dozen key stakeholders to gain insights about the RAD process. I had the opportunity to participate in the sessions along with housing authority representatives, lenders, investors, private developers, financial advisors and other consultants. Discussion questions explored issues extending from the RAD application process through to post-closing… Continue Reading
As part of its efforts towards continued reorganization, the U.S. Department of Housing and Urban Development (HUD) has recently announced changes to the Office of Multifamily Housing leadership staff. Mark Van Kirk, the Director of Asset Management, and Margaret Salazar, Director of the Office of Affordable Housing Preservation (OAHP) will each be stepping down from… Continue Reading
HUD hosted the RAD Network Training on June 4th and 5th with a crowd in attendance that exceeded HUD’s expectations. The two day series of panel presentations spanned a range of topics with insights shared by HUD staff and housing authority representatives. It was evident that HUD is focused on making RAD work more efficiently… Continue Reading
HUD’s Office of Housing and the Federal Housing Administration’s adoption of a new technical standard for conducting Phase I Environmental Site Assessments (“Phase I ESA”) took effect on May 16, 2014. Participants in Office of Housing/FHA programs, funding recipients, FHA-insured mortgagees, and contractors must now use ASTM International’s technical standard ASTM E 1527-13 (“the 2013… Continue Reading
On May 15th, Ballard Spahr hosted the webinar, “HUD’s RAD Program: Lessons Learned So Far”. The panel included HUD representatives Greg Byrne and Kathie Soroka, Ivy Dench-Carter from Pennrose Properties, a private developer and property manager, Peter Engel from the Housing Authority of Baltimore City, and Amy McClain and Rania Arja, Ballard Spahr attorneys who represent lenders,… Continue Reading
Under HUD’s “Affirmatively Furthering Fair Housing” demonstration program, developers working in the Baltimore region may now have the opportunity to receive favorable FHA financing terms by setting aside a portion of the units in their newly constructed or rehabilitated housing projects for families holding Section 8 Housing Choice Vouchers. The incentives, available for the 221(d)(4)… Continue Reading
Last week, HUD’s Office of Multifamily Housing issued a new notice explaining the procedures its field leadership should use in initiating proceedings to disqualify FHA-insured multifamily borrowers, including the principals of borrower entities, from program participation using Limited Denials of Participation (LDPs). The procedures are intended to comply with current HUD regulations for issuance of… Continue Reading
