HUD issued a notice regarding carbon monoxide detectors in HUD-assisted housing. The purpose of the notice is to remind and encourage owners, managers, and agents of HUD-assisted housing to have operational CO detectors in units that have fuel-fired/burning appliances or an attached garage. According to HUD’s press release, this notice is being issued as part of the Secretary’s efforts to support […]

This month, HUD published a proposed rule to update its Section 3 regulations. Separately, HUD also published for comment proposed benchmarks for measuring Section 3 compliance with the final rule. The purpose of Section 3 is to ensure that economic opportunities, most importantly employment, generated by certain HUD financial assistance shall be directed to low- and very low-income people, particularly those who are […]

Today, HUD released a Request for Information (RFI) regarding HUD policy in Opportunity Zones. HUD seeks input and recommendations from the public regarding potential agency actions. Comments are due to NAHMA by Friday, June 7, 2019. The 2017 Tax Reform legislation created new tax incentives for investments made in Opportunity Zones to spur economic development and job creation by encouraging long-term […]

Issue/Problem There is a recent system issue where certain retro-active (only) MAT70 GC certifications are submitted, but no fatal errors are returned/generated. Retro-active GRCs are GRC transmitted to TRACS after the contract anniversary. Instead, an internal programmatic system error (PSFERR) is issued stating “Occurrence of Certified Household already existed when CREATE attempted. POTENTIAL DATABASE CORRUPTION CONDITION HAS BEEN DETECTED.” Next […]

This spring and summer, help NAHMA promote adult literacy by connecting affordable housing residents to a free app for improving reading and English skills. The app is available for download until August 31, 2019; property managers and owners can help spread the word by simply distributing our fliers to your properties, staff, and service coordinators. NAHMA members are uniquely situated to reach […]

Please find information regarding the Fiscal Year 2018 Section 202 Supportive Housing for the Elderly Program Capital Advance NOFA. To view the NOFA online, please visit: https://www.hud.gov/sites/dfiles/SPM/documents/FY2018-Section202-NOFA.pdf Please note that HUD will host a single, national webinar on Thursday, April 25, from 2-3 p.m. EST to provide an overview of the NOFA.  Register here for the webinar. The FY 2018 Section 202 Supportive […]

Notice PIH-2019-02 (HA) H-2019-04 went into effect March 25 requiring contract inspectors and those who schedule Quality Assurance (QA) inspections at HUD to start giving Owner and Management Agents 14 calendar days notification of an inspection.  The last section of the Notice covers clarifications and limitations and states that, “Requests to extend or reschedule an inspection outside of the notification window, […]

Please find two updates regarding REAC physical inspections, including delays of physical inspections and carbon monoxide detection system requirements. For ongoing updates on changes to REAC, please visit NAHMA’s “Emerging REAC Issues” webpage here. HUD provides guidance on limited delays for new REAC Inspection Timelines Following HUD’s announcement in February establishing an exact 14-day notice period for REAC inspections across the assisted […]

Here are two recent IRS updates related to the Low-Income Housing Tax Credit (LIHTC) program. Utility Allowance Submetering Recently, the IRS published final regulations regarding utility allowance submetering in LIHTC properties. The final regulations make permanent current temporary rules that address situations in which a building owner purchases a utility from a utility company and then separately charges tenants for […]

This month, NAHMA published two NAHMAnalyses relating to the 116th Congress and Fiscal Year 2019 funding levels. Affordable Housing and Community Development Programs: Appropriations for Fiscal Year 2019 In February, President Trump signed into law the remaining FY19 agency funding bills, including HUD and USDA. This comes after Congress reached a deal on border security funding, which had been the issue […]

The Internal Revenue Service (IRS) recently issued Revenue Ruling 2019-08, which provides 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 April 2019. As provided in the ruling, Table 4 contains LIHTC Appropriate Percentages Under Section 42(b)(1) for April 2019: Appropriate percentage for the 70% present value low-income housing credit: 7.63% […]

Alexandria, Va., March 12, 2019 ― The NAHMA Educational Foundation is accepting applications for scholarships to be awarded to worthy student residents in 2019. This year will be the 13th consecutive year that the foundation has made scholarships available. To access the application, visit https://nahma.communityforce.com. It can also be found on the NAHMA website at www.nahma.org by clicking on the […]

Please find information from HUD regarding Set-Aside Tenant Protection Vouchers for Fiscal Year 2018. To view the notice online, please click here. The Office of Multifamily Housing and the Office of Public and Indian Housing published a joint Tenant Protection Voucher (TPV) Set-Aside Notice on February 15, 2019.  The Notice explains the eligibility and application requirements for $5 million of TPV […]

Please see the below message from HUD, regarding their RAD for PRACs notice.  The notice is available here on NAHMA’s website.  NAHMA is requesting members provide feedback, by Friday, March 8.  You can provide comments to me, at *protected email*.  NAHMA will also work with our Senior Housing Committee to draft comments. RAD for PRACs Notice Published on the Drafting Table for Public Feedback […]

The IRS published final regulations that amend LIHTC compliance monitoring regulations.  As stated in the summary below, these final regulations revise and clarify the requirement to conduct physical inspections and review low-income certifications and other documentation. The final regulations will affect owners of low-income housing projects that claim the credit, the tenants in those low-income housing projects, and the State […]

Below, please find two recent policy updates from HUD’s Office of Multifamily Housing on their LIHTC Pilot Program and Guidance on Foreign National Participation in FHA-insured Multifamily programs. Low-Income Housing Tax Credit (LIHTC) pilot program HUD’s Office of Multifamily Housing Programs published a Housing Notice and related Mortgagee Letter today that expand the use of the Low-Income Housing Tax Credit (LIHTC) pilot program into New […]

Below, please find an update from HUD regarding changes to the REAC inspection notification timeline, which will take effect thirty days from the publication of the attached notice. To read the notice online, please click here. HUD TO DRASTICALLY CUT NOTICE FOR INSPECTIONS OF PUBLIC HOUSING AND PRIVATELY OWNED APARTMENT BUILDINGS 14-day advance notice designed to encourage year-round maintenance             WASHINGTON – […]

The Internal Revenue Service (IRS) recently issued Revenue Ruling 2019-04, which provides 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 February 2019. As provided in the ruling, Table 4 contains LIHTC Appropriate Percentages Under Section 42(b)(1) for February 2019: Appropriate percentage for the 70% present value low-income housing credit: 7.64% […]

Below, please find the following message from the HUD Office of Multifamily Housing to Owners/Agents: “You are receiving this message because you have a rental subsidy contract that has expired, or is due to expire in February 2019. Understanding that Continuing Resolutions generally create uncertainty, HUD staff are prioritizing the renewal of all expired or February expiring contracts. If you’ve been […]

Below, please find two updates from USDA Rural Development regarding the partial government shutdown: 1.       USDA Rural Development is Moving Forward with its Programs “We now have an enacted Fiscal Year (FY) 2019 continuing resolution that provides short-term funding for the U.S. Department of Agriculture (USDA), Rural Development. As we begin an orderly start-up of our loan and grant activities for FY 2019, […]