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HUD publishes interim rule on new housing trust fund

Posted by BEMuser on Jan 30, 2015 12:32:18 PM

Today in the Federal Register, the Department of Housing and Urban Development (HUD) published an interim rule that does not affect the regulations governing the public housing and housing choice voucher (HCV) programs but should be of interest to PHAs. Here’s the summary:

The Housing and Economic Recovery Act of 2008 (HERA) establishes a Housing Trust Fund (HTF) to be administered by HUD. The purpose of the HTF is to provide grants to state governments to increase and preserve the supply of rental housing for extremely low- and very low-income families, including homeless families, and to increase homeownership for extremely low- and very low-income families.

This rule establishes the regulations that will govern the HTF. HUD is issuing this rule as an interim rule. It is HUD’s intention to open this interim rule for public comment to solicit comments once funding is available and the grantees gain experience administering the HTF program.

According to the accompanying press release, "States and state-designated entities are eligible grantees for the HTF. Annual formula grants will be made, of which at least 80 percent must be used for rental housing; up to 10 percent for homeownership; and up to 10 percent for the grantee's reasonable administrative and planning costs." The press release also links to a new webpage for the HTF program at the HUD Exchange website.

Today’s interim rule will become effective on March 31. If you're interested in learning more about the HTF program, the National Low-Income Housing Coalition (NLIHC) will be offering a free webinar next Thursday, February 5, from 1 to 2 p.m. eastern time (10 a.m. to 11 a.m. Pacific time). The webinar will provide state and local housing advocates and providers with detailed information on how to prepare for the first NHTF dollars coming to states in early 2016. If you would like to participate in the webinar, click here to register.

To receive updates and analysis on the latest PIH news, subscribe to NMA’s PIH Alert and receive a daily email with breaking news and other important information for PHAs and housing professionals.

Topics: HERA, Interim Rule

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