On September 13, 2022, HUD’s Office of Housing send the following bulletin following up on the announcement made August 5, 2022: Dear Multifamily Owners and Program Operators, The application period for funding under the Family Self-Sufficiency (FSS) Notice of Funding Opportunity (NOFO) is currently open. For the first time, owners of properties participating in Project-Based…
Rural Development’s Office of Multifamily Housing sent out the following information to stakeholders on September 12, 2022: The Agency’s mission is to support and maintain quality affordable housing for tenants across the portfolio. As you prepare upcoming 2023 annual proposed budgets, we wish to partner with you to ensure your Rural Development properties have access…
Rural Development’s Office of Multifamily Housing released the following information: On September 6, 2022, Rural Development published a Notice in the Federal Register announcing a new calculation for the Section 538 Guaranteed Rural Rental Housing Lease-up Reserve. Agency regulations require the project to either attain a minimum level of acceptable occupancy of 90% for 90…
CARH’S BROADCAST E-MAIL – Regulatory Update The Department of Housing and Urban Development (HUD) published a Notice in today’s Federal Register on the Fair Market Rents for the Housing Choice Voucher Program, Moderate Rehabilitation Single Room Occupancy Program, and Other Programs Fiscal Year 2023. Fair Market Rents (FMRs) are an estimate of the amount of…
BROADCAST EMAIL – Regulatory Update On August 26th, Rural Development (RD) published Procedural Notice (PN) 567 announcing final management fees for Fiscal Year (FY) 2023. This year, RD has used HUD’s FY 2022 Income Limits as the base management fee, versus their Operating Cost Adjustment Factors (OCAF), which have been used since FY 2015.…
Rural Development’s Office of Multifamily Housing Production & Preservation Division sent out the following announcements: Hello Industry Partners! I hope you are enjoying your summer. I am delighted to share with you the latest program announcements and priority initiatives in RD’s Office of Multifamily Housing, Production & Preservation (P2) Division. Tenant Selection Plans &…
CARH’S BROADCAST E-MAIL – Regulatory Update This week, Rural Development (RD) published a July 24, 2022, Unnumbered Letter (UL) entitled, “Section 515 and Section 514 Multi-Family Housing Reserve Deposit Resizing.” The UL was issued to provide guidance to all Multifamily Housing (MFH) program staff regarding the resizing of the reserve account deposits as it pertains…
CARH’s BROADCAST EMAIL—Legislative Alert Both the U.S. House of Representatives and the U.S. Senate are now in recess for the month of August. House members had left at the end of July but returned to Washington, DC on August 12th to vote on H.R. 5376, the Inflation Reduction Act (IRA) of 2022 that had…
On August 15, 2022, HUD’s Office of Housing sent the following information: Dear Multifamily Owners and Operators, The Office of Multifamily Housing recently published Housing Notice 2022-04/Mortgagee Letter 2022-12, introducing its new policy for delegating the process for approving borrowers’ requests for disbursement of funds from Reserve for Replacement (RfR) accounts to lenders. The Policy provides two options…
CARH’S BROADCAST EMAIL – MEMBER UPDATE On Friday, August 12th, at 12:00 p.m. EDT, CARH will be switching the host for our email service. We expect the change to take 2-3 hours, but it could be up to 24 hours before all emails sent to CARH are delivered. Outgoing emails may also be affected. Therefore,…