December 05, 2016
Who will be the next HUD Secretary? HUD issues new RAD fair housing, relocation guidance, Community Preservation Act and Section 42 ROFR victories in Massachusetts, the latest on NY 421-a Program and previewing the impact of the HUD secretary appointment. Here’s what’s trending in affordable housing.
President-elect Donald J. Trump’s team announced today his intent to nominate Dr. Ben Carson to serve as Secretary of the United States Department of Housing and Urban Development (HUD).—Richard Michael Price and Forrest Milder
Amidst reports that President-elect Donald Trump is considering Ben Carson for appointment as the next Secretary of the Department of Housing and Urban Development, media outlets, including Nate Silver’s FiveThirtyEight and the Atlantic, have highlighted the critical role of HUD in shaping the nation’s housing policies.—Alexander B. Rosso
A recent Massachusetts Superior Court case has clarified the right of a nonprofit sponsor to exercise its Section 42 right of first refusal to acquire an affordable housing project financed under low-income housing tax credit (LIHTC).—Jeffrey W. Sacks and Brenna Toomey
Six cities and eight towns voted to adopt the Community Preservation Act (CPA) on November 8.—Jeffrey W. Sacks
HUD issued Notice H 20-16-17/PIH 2016-17 (HA), with new guidance on fair housing, civil rights and relocation issues in the Rental Assistance Demonstration (RAD) program—one of HUD’s most significant housing preservation initiatives in recent years. The Notice was reported at 81 Fed. Reg. 79514.—Harry J. Kelly and Richard Michael Price
A few weeks ago, the Real Estate Board of New York, the Construction Trade Council of New York and the governor’s office announced an agreement on 421-a wages paving the road for revival of the tax exemption.—Eleor Cohen
Location: Online webinar
Date: December 7, 2016 | Speaker: Harry J. Kelly
Topics include: This important program will provide guidance to owners and managers of Affordable Housing sites on complying with laws, regulations and lease obligations governing building and tenant security issues. The program will focus on preventing and responding to criminal activity in a way that balances the need for security with the rights of tenants.
The foregoing has been prepared for the general information of clients and friends of the firm. It is not meant to provide legal advice with respect to any specific matter and should not be acted upon without professional counsel. If you have any questions or require any further information regarding these or other related matters, please contact your regular Nixon Peabody LLP representative. This material may be considered advertising under certain rules of professional conduct.
Affordable Housing & Tax Credit Finance Alert | 08.16.19
Affordable Housing & Tax Credit Finance Alert | 04.02.19