Yesterday, the Trump administration released its proposed budget for the 2019 fiscal year. Overall, the budget proposes an $8.8 billion (18.3%) reduction in the HUD budget from the 2017 enacted level, a more drastic cut than the $6 billon HUD budget reduction the Administration proposed for fiscal year 2018. Significant proposals in the budget include:

HUD’s Office of Recapitalization recently released a memo to all CHAP awardees setting forth closing deadlines for CY 2017 RAD transactions. Awardees should be especially  mindful of these intermediate deadlines to ensure that their RAD projects can be promptly processed.

 

Step

Deadline to close by June 30, 2017 Deadline to close by Nov. 30,

Earlier this month, the US Department of Housing and Urban Development (HUD) issued a number of final rules and notices as summarized below.

Final Rules

  • HUD Revises Lead-Based Paint Regulations

Effective on February 3, 2017, HUD’s final rule amends the agency’s Lead Safe Housing Rule currently at 24 CFR Part 35. Changes to the lead-based

  • HUD Announces Nationwide Smoke-Free Policy in Public Housing

The most talked about HUD development this week has been Secretary Castro’s announcement on Wednesday, November 30th that HUD will require all public housing developments to be smoke-free environments. By early February, public housing agencies (PHAs) must implement smoke-free policies that ban listed prohibited tobacco products from

HUD has issued a Federal Register Notice offering initial implementation guidance for the Housing Opportunities through Modernization Act of 2016 (HOTMA) (Pub. L. 114-201). The notice highlighted both the HOTMA provisions that are self-implementing or otherwise already in effect, and outlined certain key HOTMA provisions that will require further action by HUD.

In addition to

The U.S. Department of Housing and Urban Development (HUD) recently issued this letter to public housing authority (PHA) Executive Directors regarding the five self-implementing portions of the Housing Opportunities through Modernization Act (HOTMA) (Pub. L. 114-201) that was signed into law on July 29, 2016. According to this guidance, which is also expected to be

The U.S. Department of Housing and Urban Development (HUD) recently issued a memo outlining its processing schedule for mixed-finance projects targeted to close by the end of 2016. According to HUD’s Office of Public Housing Investments, parties wishing to close a mixed-finance transaction by December 31, 2016 must:

  • Submit a complete Development Proposal by November

The Office of Inspector General (OIG) recently released an audit report of HUD examining the extent to which over-income families have been residing in public housing units. “Over-income” means the families were eligible low- income families at the time they were admitted to public housing but their incomes have increased above 80% of area median

RoadAs a follow up to our January 12, 2015 post, HUD published a proposed rule that seeks to alleviate administrative burdens and streamline requirements across the public housing, Section 8, and multifamily housing rental assistance programs. Many of HUD’s proposals stem from innovations implemented by Moving to Work (MTW) participants. The proposed rule makes