HUD’s Office of Housing sent the following information on September 29, 2022: HUD Issues Notice Implementing Five-Year Section 202 PRAC Renewals Dear Multifamily Owners and Operators, Today, HUD’s Office of Multifamily Housing Programs published a Notice that they will be increasing the standard Section 202 Project Rental Assistance Contracts (PRAC) renewal term to five-years from the one-year…
CARH’S BROADCAST EMAIL – MEMBER UPDATE Our internet and phone provider has informed us that due to work in the area around our office, CARH’s National Office will experience a scheduled service outage tomorrow, Tuesday, September 27th. This means that no phone calls will be able to be received or sent from our office phones…
HUD’s Office of Housing sent out the following bulletin: Dear Multifamily Owners and Program Operators, HUD’s Office of Multifamily Housing today published its Section 202 Notice of Funding Opportunity (NOFO) for Fiscal Year 2022. The NOFO provides up to $174.6 million in grant funding opportunities through the Section 202 program. Applications are due by January 25,…
Multi-Family Housing (MFH) is developing a pilot program for simple transfers under authority in Section 506(b) of the Housing Act of 1949, as amended (42 U.S.C. §1476(b)). The purpose of the pilot program is to reduce application requirements for certain types of transfers, resulting in lower transaction-related costs for applicants and improved processing times. MFH…
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 &…