CARH’S BROADCAST E-MAIL – Regulatory Alert
April 17, 2025
Today, HUD issued a Federal Register Notice entitled “HOME Investment Partnerships Program: Program Updates and Streamlining-Delay of Effective Date, Withdrawal, and Correction.” The effective date of the HOME Final Rule, initially set for February 5, 2025, has been delayed to April 20, 2025, and certain provisions of the rule are further delayed until October 30, 2025.
Some key highlights in the Notice are:
- Withdrawal of Amendatory Instruction 24 (24 CFR 92.250): The instruction to amend this section is withdrawn. This means that the planned changes to the regulations regarding maximum per-unit subsidy amount, underwriting, and subsidy layering are not being implemented as initially intended.
- Maximum per-unit subsidy amount, underwriting, and subsidy layering: The maximum per-unit subsidy amount revision and the underwriting analysis requirement revision are both effective April 20, 2025. The Green Building Standard per unity subsidy revision is delayed until October 30, 2025. This revision introduces green building standards, allowing jurisdictions to exceed the per-unit dollar limits by up to 10% if the project meets specified green building standards.
- Tenant protections and selection: The revisions to this section are delayed until October 30, 2025. This section includes tenant protections and selection criteria for HOME-assisted rental housing. Despite the delay, owners can still terminate or refuse to renew tenancies based on direct threats to safety or property, without the requirement of a 30-day notice, if it complies with state and local laws.
For other news and information affecting the affordable rural housing industry, please visit the Newsroom on CARH’s website, www.carh.org.