Earlier this week HUD released a draft section for the next revision of the RAD Notice for review and comment. This draft section addresses the implementation of “RAD for PRAC”, the conversion of conversion of properties assisted by Section 202 Project Rental Assistance Contracts (PRACs). There are approximately 125,000 units assisted by the Section 202
DOJ Takes Flexible Position on Website Accessibility Requirements
Most websites for housing providers and other businesses should be accessible to individuals with disabilities. But how is this enforced? On September 25, 2018, the U.S. Department of Justice issued a letter to a member of the U.S. House of Representatives in which it took the position that “noncompliance with a voluntary technical standard for
HUD issues new guidance regarding delayed submission of RAD draft closing packages
Please find below a memo issued last week by HUD’s Office of Recapitalization regarding the delayed submission of draft closing packages for RAD conversions. Please note that this gudiance applies to RCCs issued on or after May 1, 2018.
To: CHAP Awardees
From: Thomas R. Davis, Director, Office of Recapitalization
Date: April 27, 2018
IRS Announces First Wave of Opportunity Zone Designations
Click here to learn more about the Qualified Opportunity Zone program and the first round of designations in a new e-alert by our Public Finance Department. For additional background, please also see previous e-alerts describing what tax incentives are available for investments in QOZs and how opportunity zones are nominated, certified, and designated.
HUD rolls back PACE financing in single family FHA deals
In July 2016 HUD issued guidance on the use of Property Assessed Clean Energy (PACE) assessments for single family properties with FHA-insured mortgages. In January 2017, HUD followed with guidance on the use of PACE assessments for multifamily properties with certain types of FHA insurance, HUD-held debt and rental assistance.
With the issuance of Mortgagee
HUD issues notice of RAD extensions for PHAs in disaster areas
HUD issued a Notice of Extensions for PHAs in Presidentially Declared Disaster Areas. Pursuant to the Notice, HUD is authorized, on a case-by-case basis, to grant public housing authorities located in Presidentially-declared disaster areas extensions to certain Rental Demonstration Assistance (RAD) Application submission deadlines. These extensions may be granted to PHAs that have: 1)
Missed the Options for Property Assessed Clean Energy (PACE) Financing webinar?
If you missed our webinar on Options for PACE Financing or want to share the materials with your colleagues, you can access the presentation, white paper and recording at www.ballardspahr.com/PACEwebinar.
You can also click here to learn more about how the District of Columbia is leading the nation in PACE financing.
HUD issues report on worst case housing needs
On August 9, HUD issued to Congress its 16th report on worst case housing needs in the United States, based on 2015 data. Households with “worst case needs” are those that are very low income, do not receive government housing assistance and either pay more than 1/2 of their income for rent or live in
OIG Examines Travel and Travel Costs
In a new audit report, HUD’s Office of Inspector General (OIG) questioned certain costs paid by a public housing authority (PHA) for travel by the PHA’s commissioners. The OIG alleges violations of uniform cost principals at 2 CFR Part 200, state open meeting laws, as well as the PHA’s own policies. The report is
HUD Publishes Housing Trust FY 2017 Allocations
The U.S. Department of Housing and Urban Development (“HUD”) released the Fiscal Year 2017 Housing Trust Fund (HTF) allocation amounts on June 20, 2017, setting forth the amounts awarded to each state or territory under the HTF. The total HTF allocation for Fiscal Year 2017 is $219,168,373.94, including $12,702,747.00 in unallocated funds from Fiscal Year