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Friday news roundup 8/15/14

Posted by BEMuser on Aug 15, 2014 12:09:55 PM

In a Federal Register notice today, the Department of Housing and Urban Development (HUD) published the proposed fair market rents (FMRs) for federal fiscal year (FFY) 2015 (October 1, 2014, through September 30, 2015). As the notice reminds us:

The primary uses of FMRs are to determine payment standards for the housing choice voucher (HCV) program, to determine initial renewal rents for some expiring project-based Section 8 contracts, to determine initial rents for housing assistance payment contracts in the Moderate Rehabilitation single room occupancy program, and to serve as rent ceilings in the HOME program.

In addition to listing the proposed FFY 2015 FMRs for all areas (see Schedule B), today’s notice:

  • Explains that the proposed FFY 2015 FMRs reflect the estimated 40th and 50th percentile rent levels trended to April 1, 2015
  • Announces that the proposed FFY 2015 FMRs do not reflect any updates to the methodology used to calculate FMRs
  • Lists the proposed FFY 2015 small area FMRs for the 5 demonstration participants (see Schedule B Addendum)
  • Lists the proposed FFY 2015 FMRs for manufactured home spaces in the HCV program (see Schedule D)

The accompanying FMR data set has been posted to HUD’s Policy Development and Research (PD&R) FMR page and includes the following items:

If you wish to submit comments on the proposed FMRs, you have until September 14 to do so. Final FMRs will become effective on October 1. For instructions on how and where to submit comments, see the “Addresses” section in today’s notice. For complete documentation of the development of the FMRs proposed for your area, visit this page at the HUD User Web site. In other news:

NLIHC: Senators urge Secretary Castro to issue final AFFH rule

Novogradac: NCSHA data reveals growth in LIHTC allocations and units produced

Rooflines: The dangerous rhetoric of escaping to opportunity

Topics: Fair Housing, FMR, LIHTC, Mod Rehab

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