Multifamily Housing Simple Transfer Pilot Program
The Rural Housing Service (RHS or the Agency) is announcing a pilot program for simple transfers of USDA Section 515 Rural Rental Housing properties.
Dec 15, 2022
Affordable Housing News
HUD: FY 2023 median family incomes and income limits to be delayed
The FY 2023 median family incomes and income limits would ordinarily be based on the ACS 2020 estimates. However, because of the lack of 1-year ACS 2020 estimates described above, HUD intends to instead base the FY 2023 median family incomes and income limits on ACS 2021 data. Since 2014, HUD has released median family incomes and income limits in March or April of each year. Because the special tabulations of ACS 2021 data HUD needs for median family income calculations will not be available until early 2023 , HUD intends to delay the release of FY 2023 median family incomes and income limits until on or about May 15, 2023. Should HUD revise this date, HUD will make a similar announcement on https://www.huduser.gov/portal/datasets/il.html.
HUD Releases 2022 RAD Rents for Public Housing Conversions
On December 15, The U.S. Department of Housing and Urban Development (HUD) posted the 2022 Rental Assistance Demonstration (RAD) contract rents.
Op-Ed Highlights Biden Administration’s Efforts to Bolster Affordable Housing
Secretary of the Treasury Janet L. Yellen and US Department of Housing and Urban Development Secretary Marcia L. Fudge release op-ed about the need to bolster affordable housing.
HUD Seeks Feedback by Nov. 23rd on Potential Changes to How Section 811, 202 Properties Convert Under RAD
Request for Written Feedback on the Implementation of The Conversion of properties Assisted Under Section 811 through the Rental Assistance Demonstration (RAD) The Rental Assistance Demonstration (RAD) allows certain HUD-assisted properties to convert to long-term...
HUD Releases 2023 Housing Credit Difficult Development Areas, Qualified Census Tracts
HUD recently released the 2023 list of Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs) for purposes of Housing Credit basis boost allowances.
HUD & Census Bureau Release New American Housing Survey
Every two years, HUD and the Census Bureau produce the American Housing Survey (AHS), the most comprehensive analysis of the nation's housing inventory. The AHS covers a variety of important housing topics, including the composition and quality of the nation's housing stock; rents, mortgages and other housing costs; and neighborhood conditions.
Biden-Harris Administration Announces Progress in Implementing its Housing Supply Action Plan
The Administration is announcing several new steps that reduce barriers to affordable housing construction and preservation.
IRS Extends Housing Credit Placed-In-Service and Other Deadlines
The Internal Revenue Service released Notice 2022-52, which builds on previous notices related to COVID-19 relief the IRS has provided to Housing Credit agencies and their industry partners, most recently Notice 2022-05. The notice’s publication was announced by the Biden-Harris Administration in a statement on its progress meeting goals set forth in the administration’s Housing Supply Action Plan.
Final Average Income Test Rules and Housing Credit Deadline Extensions
The Affordable Housing Tax Credit Coalition applauds the significant progress announced on the Biden Administration’s Housing Supply Action plan, which includes new guidance to provide flexibility to the Low-Income Housing Tax Credit (Housing Credit). Two new regulations – a final rule on the average income test and extensions of Housing Credit program deadlines – will make more affordable housing developments financially feasible at a time when the need for affordable housing is skyrocketing.
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