Click here to view the HUD portion of President Obama's proposed 2013 budget, sent today to Congress.
To: IRHP Members
From: Stephen J. Wallace
RE: HUD Notice PIH 2012-18
Yesterday, the Department of Housing and Urban Development Office of Public and Indian Housing published Notice 2012-18 regarding "Rental Assistance Demonstration - Partial Implementation and Request for Comments." RAD is as demonstration program to allow certain regulatory relief that enables a more effective manner to finance the rehabilitation and preservation of federally-funded affordable housing rental units. The Notice is 149 pages long and has been published a little over 3 months from the enactment of the HUD FY 2012 appropriations law - an indication of RAD's importance to HUD. Perhaps most important to IRHP members is Section 3 which allows an owner to choose to receive a 15 year project based voucher contract in lieu of enhanced vouchers if there is a RAP or Rent Supp contract in place. This provision is effective immediately.
TO: IRHP Members
FROM: Stephen J. Wallace
DATE: November 22, 2011
RE: Congress passes "Mini-bus" funding bill; preservation provisions included
Fiscal Year 2012 HUD Appropriations On November 17, 2011, the House of Representatives and Senate passed the so-called "Mini-bus" FY2012 Appropriations legislation
(H.R. 2112), which included funding for three of the twelve appropriation bills: Agriculture; Commerce, State, Justice; and Transportation, Housing, and related agencies. A short-term "Continuing Resolution" funding the remaining federal agencies through December 16, 2011, was attached to this legislation; the current Continuing Resolution expired November 18th. The House vote was 298-121; the Senate vote was 70-30. Congress is now in recess for the Thanksgiving break. The president signed the legislation into law on November 18th.
WASHINGTON, D.C. - July 21, 2011 - The Affordable Housing Tax Credit Coalition (AHTCC) today sent a rebuttal of Sen. Tom Coburn's proposal to eliminate the low-income housing credit (LIHTC) to lawmakers. The LIHTC was one of a number of tax expenditures targeted for elimination in Sen. Coburn's deficit reduction plan entitled "Back in Black." The AHTCC warns that repealing the LIHTC would deprive millions of low-income families and seniors of a decent place to live and would eliminate thousands of jobs. In its rebuttal, the group notes that the proposal's discussion of reasons to eliminate the LIHTC is based on faulty reasoning, irrelevant information and inaccurate or unsupported claims.
The AHTCC invites affordable housing advocates and LIHTC supporters to sign on to the rebuttal document; groups interested in co-signing the rebuttal should contact AHTCC Executive Director Victoria Spielman at victoria.spielman@taxcreditcoalition.org by Wednesday, July 27.
HUD Multifamily Preservation Web Page
July 21, 2011 - HUD announced today that their new Multifamily Preservation web page is live. This page is designed to be a clearinghouse of guidance for preserving Multifamily properties. They will be adding new guidance as it is published, and also adding case studies of preservation transactions.
To access the web page, go to the HUD.GOV website. Under the Multifamily heading, there is a drop down list, which now includes preservation. The page is under “Preserving Multifamily properties.” Click here to view.
