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Community Development and Housing News: September 27, 2021

Posted by NMA on Sep 27, 2021 12:00:00 PM

HUD updates flat rent submission requirements, establishes new HOME-ARP requirements, and more.

Recent News

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HUD Publishes Notice on Flat Rent Submission Requirements

Notice PIH 2021-27, “Updates to Flat Rent Submission Requirements,” supersedes and replaces the guidance provided in Notice PIH 2017-23, clarifies HUD’s interpretation of the statutory amendment related to flat rents, and updates flat rent exception and extension request requirements, including review criteria for Form HUD-5880. The notice also serves as supplemental guidance to the streamlining final rule published in March 2016. Read article

 

HOME-ARP Implementation Notice and Fact Sheets Now Available

In Notice CPD-21-10: Requirements for the Use of Funds in the HOME-American Rescue Plan Program, HUD establishes requirements for funds appropriated to provide homelessness assistance and supportive services under the American Rescue Plan Act of 2021. HUD has also issued a series of HOME-ARP Implementation Notice Fact Sheets to help communities across the country create affordable housing and services for people experiencing or at risk of homelessness. Read article

 

HUD Announces Availability of More than $180 Million in COVID-19 Supplemental Funding for Multifamily Property Owners Participating in Assisted Housing Programs

HUD has opened a new application period for owners of multifamily housing for low-income elderly, persons with disabilities, and Section 8 contracts to apply for funds to cover costs to prevent and respond to COVID-19. More than $180 million is available to support expenses for protecting residents and staff from the coronavirus. HUD has also provided certain flexibilities to facilitate more robust use of funds. Read article

 

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Topics: Capital Fund, Flat Rent, HOME, Rent Calculation, Industry News

How to consider cash and other contributions when calculating rent in the Multifamily Housing program

Posted by Reneé McTyeire on Jul 28, 2020 7:45:00 AM

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Calculating a family’s rent can be tricky when a family receives cash contributions and other gifts from or when they receive income sporadically or from different sources. For the Multifamily program, the HUD Handbook 4350.3 (REV-1) provides some guidance which NMA trainer and consultant Reneé McTyeire discusses here. (Note, this guidance does not apply to programs under HUD’s Office of Public and Indian Housing (PIH) programs).

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Topics: Rent Calculation, Multifamily

FAQ Friday: Withdrawal of cash from assets

Posted by Annie Stevenson on Jun 7, 2019 7:00:00 AM
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Question

One of our clients recently reported that he cashed in a 401(k) account. The full value of the account was $25,000. $7,000 was deducted for taxes and the client received the remaining $18,000. What should we count as income, the full gross amount or the net amount received after taxes?

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Topics: Books and Revision Services, Q&A, Rent Calculation, Knowledge Base

FAQ Friday: HCV Rent Increases

Posted by NMA on Dec 1, 2017 5:00:00 AM

Editor’s Note: Due to HUD’s recent publication of 2018 annual adjustment factors, we are reprising this FAQ from August 2015. The links have been updated for this year’s notice.

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QUESTION     You mentioned during a webinar that the only limit on rent increases in the HCV program is rent reasonableness. Our PHA restricts rent increases to the annual adjustment factors (AAFs) published by HUD. We have this policy in our administrative plan and have imposed this limit for years. We feel that this helps to control program costs and helps to control rents in the community as a whole. Why isn’t this permissible as long as it is stated in the administrative plan?

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Topics: Q&A, Rent Calculation, Industry News, Knowledge Base

HUD Publishes Technical Corrections to HOTMA Implementation Notice

Posted by NMA on Jul 17, 2017 9:08:21 AM

technical corrects HOTMA implementation noticeOn Friday in the Federal Register, HUD’s Office of Public and Indian Housing (PIH) published several technical corrections and clarifications to the Housing Choice Voucher (HCV) provisions of the Housing Opportunity Through Modernization Act (HOTMA) it had issued on January 18. These changes are in part based on public comments from the first notice. In brief, the corrections and clarifications are as follows:

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Topics: HOTMA, HQS, Inspections, PBV, PIH notices, Rent Calculation, Seniors and Elderly, VASH, Veterans, Persons With Disabilities

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