With the release of two Revenue Procedures, the IRS sets the per-capita multiplier for nine percent LIHTCs ($2.75) and the small state minimum ($3,185,000), as well as the private bond multiplier ($120) and the small state minimum ($358,845,000) (Revenue Procedure 2022-38). The increases, which are tied to inflation, represent some of the highest amounts for…
On October 13, RD’s Office of Multifamily Housing sent our the following information: On September 29, 2022, Rural Development Multifamily Housing leadership held a meeting providing a quarterly update to our external partners. The update included information about emergency management notifications, annual financial reports, preservation strategy for 515 portfolio, and lots of other pertinent…
CARH’S BROADCAST E-MAIL – Regulatory Update Today, the White House released a Statement announcing progress the Administration has made in its Housing Supply Action Plan accounted in May. Specifically, the statement announced several new steps the Administration believes will reduce barriers to affordable housing construction and preservation, and will make it easier to build affordable…
On September 28, 2022, Rural Development held a Stakeholder Listening Session entitled, MFH Transfers and Proposed Simple Transfer Pilot Program. Click here for a copy of the PowerPoint used by RD in that session.
The information following was sent via the HUD Exchange: The Inflation Reduction Act (IRA), signed into law in August 2022, provides hundreds of billions of dollars of funding for economy-wide decarbonization. This funding is expected to reduce greenhouse gas emissions by up to 40 percent over the next ten years. The IRA includes $1 billion…
Rural Development’s Office of Multifamily Housing sent out the following announcement: Rural Development’s Multifamily Housing Program Continued Partnership with Fannie Mae and Freddie Mac to Preserve Affordable Rental Housing As part of our continued partnership with Fannie Mae and Freddie Mac, the Office of Multifamily Housing’s Production & Preservation Division is pleased to share…
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…