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Community Development and Housing News: July 18, 2022

Posted by NMA on Jul 18, 2022 4:21:07 PM

HUD updates MOR scheduling, announces funding for veteran housing, swears in Vinay Singh as Chief Financial Officer, and closes a RAD transaction with Philadelphia Housing Authority; and the Treasury updates ERAP FAQs.

Recent News

Coworkers doing paperwork

HUD Multifamily Publishes Streamlining Management and Occupancy Review (MOR) Final Rule

In a recent final rule effective September 26, 2022, HUD’s Office of Multifamily Housing Programs amended Project-Based Section 8 regulations concerning MOR scheduling. Going forward, a property’s risk-rating and previous score will determine whether the property’s next MOR will be scheduled within 12, 24, or 36 months of its previous MOR. Read article

 

Treasury Releases Revised Guidance for Emergency Rental Assistance Programs

The US Department of the Treasury’s recently updated FAQ addresses payments made by multiple grantees, documentation and eligibility requirements, source-of-income protection laws, and accessibility. NLIHC reports on the changes. Read article

 

HUD, VA Announce $10.4 Million Funding Opportunity for Rehabilitation of Low-Income Veterans’ Homes

HUD and VA are making available $10.4 million through the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP) for the rehabilitation of homes of veterans with low incomes and disabilities. Grants will be competitively awarded in amounts of up to $1 million each to selected applicants; HUD expects to make approximately 10 awards from the funds available under the Notice of Funding Opportunity (NOFO). Read article

 

Vinay Singh Sworn in as HUD Chief Financial Officer

New CFO Vinay Singh, confirmed by the Senate in late June, is a CPA with 25 years of leadership experience in finance, analytics, and strategy. His previous role was as a senior advisor to the administrator at the US Small Business Administration; earlier experience includes high-level roles at KPMG and the World Bank Group Account. Read article

 

HUD Closes $26 Million RAD Conversion with Philadelphia Housing Authority to Create 58 Newly Constructed Affordable Homes

Financed through Choice Neighborhood Implementation, Moving to Work, and LIHTC, among other sources, Philadelphia Housing Authority’s new rental homes will replace both vacant lots and currently unusable structures. Construction will include accessible homes for those with hearing or visual impairments. Read article

 

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Topics: Final Rule, RAD, Industry News, COVID-19

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