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On Dec. 16, President Obama signed into law a funding measure that combines a three-month continuing resolution (CR) for the Department of Homeland Security and a long-term omnibus spending bill that includes 11 appropriations bills for the remaining government agencies through the end of fiscal year (FY) 2015.
The law provides HUD with $45.4 billion in gross discretionary budget authority for FY 2015. This includes:
On Dec. 23, HUD issued a summary of the significant strides HUD has made on critical Obama administration priorities. Here’s a list of the priority issues related to multifamily housing that HUD has highlighted as having made notable progress in 2014:
HUD recently announced that it would push back publication of its fiscal year (FY) 2015 income limits until after the publication of 2015 poverty guidelines issued by the Department of Health and Human Services (HHS). The income limits are used to determine income eligibility for HUD’s assisted housing programs, including public housing, Section 8, Section 202, and Section 811.
HUD recently posted a report entitled “Opportunity Neighborhoods for Latino and African American Children.” The report analyzed telephone and in-person surveys of current and former Denver Housing Authority (DHA) tenants, along with a variety of other data sources. The report demonstrates that neighborhood characteristics can be statistically significant predictors of outcomes for low-income Latino and African-American children and youth.
The Senate recently confirmed President Obama’s nomination of Nani Coloretti to serve as HUD’s Deputy Secretary. As the second most senior official at HUD, Coloretti will manage HUD’s day-to-day operations, including a $45 billion annual budget and approximately 8,500 employees.
A report from the Center on Budget and Policy Priorities (CBPP) examines the extent to which the Housing Choice Voucher program helps families with children move to low-poverty neighborhoods. According to the report, nearly 4 million children live in families that receive federal rental assistance.
On Oct. 16, HUD and the Census Bureau released the first findings from the 2013 American Housing Survey (AHS). The AHS is the only comprehensive national survey focused on housing. Released every two years, the survey tracks the same units over time, in order to show changes to the housing stock. The 2013 survey included new questions regarding disaster planning and emergency preparedness, public transportation, household involvement in neighborhood and community activi...
On Oct. 31, 2014, HUD issued Housing Notice 2014-15, “Passbook Savings Rate Effective February 1, 2015 and Establishing Future Passbook Savings Rates.” Currently, the HUD passbook rate is 2 percent. Effective Feb. 1, 2015, the HUD passbook rate will be reduced to 0.06 percent.
On Oct. 22, 2014, the Social Security Administration (SSA) announced that the cost of living adjustment for 2015 benefits will be 1.7 percent. This means that recipients of Social Security and Supplemental Security Income (SSI) benefits will see a 1.7 percent increase in their monthly benefit amount as of Dec. 31, 2014.
On Oct. 3, HUD issued the final 2015 Fair Market Rents (FMRs). FMRs are used by HUD to set rents for the Housing Choice Voucher program and the Project-Based Voucher program. Project-based housing assistance payment (HAP) contracts also refer to FMRs for eligibility purposes in the Option 1 Entitlement Mark Up to Market rent increase mechanism. The FY 2015 FMRs are effective as of Oct. 1, 2014.
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