Upcoming Dates and Deadlines
Join us for our “Advocacy Call Part 2: How to Host a Property Tour” on July 12th at 4pm EST (1-800-377-8846, 80093908#). Hear from NAHMA Members with advocacy experience and bring your own questions or ideas to share. This advocacy workshop mini-series is designed to help us conduct advocacy during the AHMA Advocacy “World Cup” Challenge (July 27 – Sept 3, 2018) and beyond.
The Trump Administration unveiled a proposal to reorganize the federal government, titled “Delivering Government Solutions in the 21st Century: Reform Plan and Reorganization Recommendations.” The report recommends consolidations and overhauls related to various federal agencies, including those administering affordable housing, community development, and housing finance programs. Many of the more significantrecommendations would require legislative approval.
We are excited to announce a fun new way to get involved with NAHMA’s grassroots advocacy efforts: the AHMA “World Cup” Advocacy Challenge from July 27th – September 3rd, 2018. While lawmakers are in their home districts this August, conduct one of five types of advocacy to earn points for your AHMA and elevate the importance of affordable housing. Winners announced at NAHMA’s October Meeting in Washington, DC!
Department of Housing and Urban Development
HUD released information regarding owner-adopted preferences in RAD, including info about owner-adopted preferences that do and do not require HUD Multifamily Field Office approval; RAD conversions prior to June 15, 2015; fair housing requirements for preferences; and identifying preferences in the Tenant Selection Plan.
HUD issued new answers to a number of recently asked questions on transferring budget authority under Section 8(bb). The new FAQs address questions about 8(bb) transfers in which Owner B requests a 20-year renewal contract of Contract B under Option Two on the basis of a budget. The revised FAQ document supersedes the FAQs issue in December, 2016.
HUD issued a Federal Register notice to solicit public comments on amendments to the Fair Housing Disparate Impact Rule, issued in 2013. This advance notice of proposed rulemaking (ANPR) invites public comment on possible amendments to HUD’s 2013 final rule implementing the Fair Housing Act’s disparate impact standard, as well as the 2016 supplement to HUD’s responses to certain insurance industry comments made during the rulemaking. Please send us any recommendations by July 31, 2018.
HUD’s Real Estate Assessment Center (REAC) provided an update regarding a demonstration using moisture meters and infrared cameras to detect the presence of moisture before mold appears. REAC will conduct the one-year demonstration starting on June 18, 2018 as a proactive mold preventative or remedial measure. According to REAC’s memo, the demonstration will not constitute a change in REAC UPCS inspection protocol and will not slow down the inspection process.
HUD Secretary Ben Carson announced the “Protect Our Kids!” Campaign, a Department-wide enforcement effort to protect young children from lead poisoning in older housing. The objective of the campaign is to create a combined effort by multiple enforcement and program offices at HUD to review and ensure compliance with regulations that are intended to reduce the potential for lead poisoning in children.
HUD released information regarding the Calendar Year 2018 Basic Statutory Mortgage Limits for Multifamily Housing Programs. The dollar amounts in certain sections of the National Housing Act are the base per unit statutory limits for FHA’s multifamily mortgage programs and have been adjusted annually since 2004. The adjustment of the dollar amounts is calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI-U); the percentage change in the CPI-U is 2.1 percent with an effective date of January 1, 2018.
Department of Agriculture – Rural Development
The Rural Housing Service (RHS) announced that it is soliciting competitive applications under its Housing Preservation Grant (HPG) program, which assists rental property owners and cooperative housing complexes in rural areas to repair and rehabilitate their units if they agree to make such units available to low- and very-low income persons. The term of the grant can vary from 1 to 2 years. The closing deadline for receipt of all pre-applications is August 9, 2018.
Rural Development revised Chapter 3 of the MFH Asset Management Handbook to reflect the Fiscal Year 2019 Management Fees. The FY19 management fee is increased by the 2018 Operating Cost Adjustment Factor (OCAF) for each state. These fees will be used for the FY19 budget cycle beginning January 1, 2019. All FY19 management fees have been rounded up to the nearest dollar.
Department of the Treasury
The IRS recently issued various prescribed rates for federal income tax purposes, including applicable federal interest rates, adjusted applicable federal interest rates, and adjusted long-term and tax-exempt rates for July 2018. As provided in the ruling, LIHTC Appropriate Percentages Under Section 42(b)(1) for July 2018 include the appropriate percentage for the 70% present value low-income housing credit (7.68%) and the appropriate percentage for the 30% present value low-income housing credit (3.29%).
This update is also available online here.