Section 8(bb) Transfer for Owner Opt-outs; $5 Billion Allocated to HOME program; HUD and VA Pledge to End Veteran Homelessness

Section 8(bb) Transfer for Owner Opt-outs; $5 Billion Allocated to HOME program; HUD and VA Pledge to End Veteran Homelessness

HUD has announced several recent updates regarding Section 8(bb) transfers for owner opt-outs; a $5 billion allocation for the HOME program, and efforts to end Veteran homelessness. For more information, please see the three announcements below:

Section 8(bb) Subsidy Transfer Requests

Mr. Toby Halliday, Director of HUD’s Multifamily Housing Office of Management and Portfolio Oversight, announced the lifting of a hold placed in February on the review of new Section 8(bb) subsidy transfer requests. Multifamily Housing will now resume processing of transfers pursuant to Housing Notice 2015-03 and related protocols. Please see the announcement below:

As you know, our office placed a pause on the review of new 8(bb) subsidy transfer requests in late February while the Office of General Counsel reviewed HUD’s authority to execute such transfers.  This hold is now lifted, and Multifamily Housing will now resume processing of transfers pursuant to Housing Notice 2015-03 and related protocols.  Going forward, our office will explore possible changes to our procedures and justifications to ensure that our fulfillment of the requirements of Section 8(bb) is on the strongest legal footing possible.  

HUD Announces $5 Billion Allocation to HOME Investment Partnership Program

HUD Secretary Marcia Fudge recently announced the allocation of nearly $5 billion in American Rescue Plan funds to help communities across the country create affordable housing and services for people experiencing or at risk of experiencing homelessness. The supplemental funding is allocated through the HOME Investment Partnerships Program (HOME-ARP) to 651 grantees and gives states the flexibility to best meet the needs of people experiencing or at risk of experiencing homelessness, including through development of affordable housing, tenant-based rental assistance, supportive services, and acquisition and development of non-congregate shelter units.

To view HUD Secretary Fudge’s press release regarding HOME-ARP, click here.

Secretaries of HUD and Veterans Affairs (VA) Joint Statement on Ending Veteran Homelessness

The secretaries of the VA and HUD have announced they are aligning efforts and joining forces to work towards ending Veteran homelessness. In a recently issued joint statement, HUD Secretary Marcia Fudge and VA Secretary Denis McDonough pledged to initiate a multi-phased whole-of-government effort that will ultimately help end Veteran homelessness by making ending homelessness a top priority, leading with an evidence-based Housing First approach, reaching more underserved Veterans, ensuring the delivery of qualitative supportive services, and by increasing the supply of and access to affordable housing.

To view the HUD and VA Joint Statement on Ending Veteran Homelessness, click here.