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
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
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
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
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
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HUD recently released draft guidance on RAD for PRAC, asking for comments by March 12.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
Upcoming Events
Affordable Housing Opportunity Zones
Location: Live Webinar
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.