The Chicago (Illinois) Housing Authority (CHA) is considering reducing the number of property management companies that oversee its public housing units. The CHA has proposed cutting back from nine to five private property management companies as a way of streamlining costs and raising accountability, according to an article appearing in Chi-Town Daily News. The five […]
On June 18, HUD updated Housing Notice 09-03, Exclusion of Deferred Department of Veterans Affairs Disability Benefits from Annual Income. The updated notice amends Section III so that it is consistent with the Housing and Economic Recovery Act of 2008 (HERA). As a result of HERA, any deferred Department of Veterans Affairs disability benefits that […]
After the owner of a 77-unit Section 8 project received low scores on physical inspections, HUD terminated the Section 8 payments. The owner sued HUD, claiming that HUD violated the Administrative Procedures Act (APA) when it failed to follow its own procedures to abate Section 8 payments under the terms of the housing assistance contract […]
While the new federal anti-foreclosure bill signed by President Obama helps homeowners affected by the current financial meltdown, the bill and its $13.6 billion housing recovery money have ignored the one-third of American households who rent, say former Mayor of New York and Congressman Ed Koch, and ex-White House spokesperson Bob Weiner, formerly chief of […]
HUD Secretary Shaun Donovan announced that HUD is approving plans submitted by state finance agencies for $1,035,322,485 to jump-start affordable housing programs in states throughout the country that have been stalled due to the recession. Funded through the American Recovery and Reinvestment Act of 2009 (ARRA), HUD’s Tax Credit Assistance Program (TCAP) will allow 26 […]
A New York City resident complained of a rent overcharge. The District Rent Administrator (DRA) ruled against the resident, finding that the New York City Housing Authority (NYCHA) set the resident’s rent at $1,550 under the Section 8 program effective June 1, 2007, by a letter dated May 14, 2007. The resident appealed. The resident […]
Some of the households living at your site may be receiving other federal assistance. However, when determining a household’s income for project-based Section 8 tenant rent, do you know which ones to exclude? The “Fact Sheet for HUD Assisted Residents, Project-Based Section 8,” lists federally mandated exclusions when determining income. Among the items included: Value […]
Starta Development has launched a new tool that enables syndicators to avoid costly penalties that can result from non-compliance with IRS regulations. The service supports a variety of funding, including LIHTC, New Markets Tax Credits, HOME Funds, Section 202 and 811. The Web-based tool captures initial funding documentation, but also incorporates all tenant documents, and […]
HUD’s Office of Policy Development and Research has released U.S. Housing Market Conditions for the first quarter of 2009. The report contains a quarterly analysis of housing production, marketing, affordability and interest rates, and the multifamily housing sector. The data are compared to the both the previous quarter and the first quarter of 2008. The […]
A Rhode Island affordable housing development designed for low-income seniors in and around North Smithfield has been recognized as one of the top projects in the country, and was recently honored by the Washington, D.C.-based Affordable Housing Tax Credit Coalition. The $20 million, 80-unit The Meadows is a two-story building offering one- and two-bedroom apartments […]
