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    4. What’s trending in Affordable HousingArticles

    Article

    What’s trending in Affordable Housing

    April 18, 2019

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    By Nathaniel Cushman, Richard Michael Price, Rebecca Simon, Kathie Soroka, Monica Sussman and Deborah VanAmerongen

    HUD proposes revisions to Section 3 regulations, NOFA for Section 202 funds, grounds for delaying REAC inspections, changes to physical inspection protocol, guidance on Section 22 voluntary conversion for small PHAs to convert to Section 8 and RAD for PRAC guidance published for comment. Here’s what’s trending in affordable housing and community development.

    HUD

    HUD proposed revisions to Section 3 regulations

    Proposed regulatory changes focus on retention over initial hiring and results over process.—Kathie Soroka, Richard Michael Price and Tatiana Gutierrez

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    HUD guidance on Section 22 Voluntary Conversion allows small PHAs to convert to Section 8

    PHAs with 250 units or less can convert to Section 8 through a new process.—Kathie Soroka, Richard Michael Price and Tatiana Gutierrez

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    Want to build a Section 202 project? Money is available!

    For the first time since 2010, HUD has issued a NOFA for Section 202 funds.—Deborah VanAmerongen and Kathie Soroka

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    Grounds for delaying REAC inspections

    On March 21, Deputy Assistant Secretary for Multifamily issued a memorandum to HUD in the field and owners and management agents regarding delaying REAC inspections beyond the new 14-day timeline.—Tatiana Gutierrez

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    HUD announces major changes to physical inspection protocol

    HUD is shortening notices of REAC inspections to 14 days; more changes to come.—Rebecca Prybell, Kathie Soroka and Richard Michael Price

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    RAD

    RAD for PRAC guidance published for comment

    HUD recently released draft guidance on RAD for PRAC, asking for comments by March 12. The guidance is responsive to industry concerns, but the biggest question — rents — remains uncertain.—Kathie Soroka, Deborah VanAmerongen, Monica Hilton Sussman and Nathaniel Cushman

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    Date: April 26, 2019, 1:00 p.m. Eastern time

    Speaker: Richard Michael Price, Ken Silverberg, Kathie Soroka

    Topics include: Gain an understanding of Opportunity Zones and current guidance and potential issues in structuring transactions.

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      RAD for PRAC guidance published in Rev 4

      Sep 6, 2019
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      What’s trending in Affordable Housing

      June 18, 2019
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      For the first time since 2010, HUD issues NOFA for Section 202 funds

      April 8, 2019

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