HUD issues a Family Self-Sufficiency accounting brief and provides vouchers for people with disabilities and foster youth; the US Senate Committee on Finance discusses LIHTC; and Rhode Island dedicates a substantial percentage of ARPA funds to affordable housing and homeless assistance.
Recent News
PIH-REAC Issues Accounting Brief on FSS Program Financial Reporting
The PIH Real Estate Assessment Center has issued Accounting Brief #26, which provides information on properly reporting Family Self-Sufficiency program transactions in your PHA’s Financial Assessment Subsystem submission, including FSS Program Coordinator Grant Reporting; FSS Program Coordinator Grant Expense reporting; and FSS escrow activity reporting, including new reporting requirements and eligible uses of FSS escrow forfeitures, but not including the calculation of the FSS escrow. Read brief
Recap of Senate Finance Committee Hearing on the Role of Tax Incentives in Affordable Housing
NLIHC recaps a recent hearing held by the US Senate Committee on Finance, “The Role of Tax Incentives in Affordable Housing.” Senators discussed the impact of LIHTC, the affordable housing shortage, funding from ARPA, and the proposed “Eviction Crisis Act." Read article
Rhode Island Dedicates 23% of ARPA Funds to Affordable Housing and Homeless Assistance, Passes 10 Bills to Address Housing Crisis
Rhode Island’s 2023 budget allots $221 million to affordable housing and homeless prevention, building on an allocation of $29 million approved in January. NLIHC reports on budget details and the advocacy by Homes RI and Housing Network of Rhode Island that led to the investment in housing. Read articleOn 32nd Anniversary of the Americans with Disabilities Act, HUD Awards Over $36 Million in Mainstream Vouchers and Fees to Support Community Living for People with Disabilities
HUD’s funding award includes $23 million for 2,391 Mainstream Vouchers PHAs can use to assist people with disabilities to transition from or avoid both institutional settings and homelessness, as well as $13 million in additional administrative fees that will help PHAs support tenants’ housing searches, fund landlord engagement activities, and cover move-in costs. Read articleHUD announces $621,000 to Keep Former Foster Youth Housed
Fourteen PHAs in 12 states are receiving fund to prevent homelessness among youth who are aging out of foster care. The funding will make 60 housing choice vouchers available to these PHAs from across the US. Read article
