HAC News Formats. pdf

September 21, 2017
Vol. 46, No. 19

September 15-October 15 is Hispanic Heritage Month • Federal funding deadlines extended to December 8 • USDA-RD creates Innovation Center, requests comments • Patenaude confirmed for HUD, others nominated • USDA RD lists relief available to those affected by Hurricanes Harvey and Irma • FEMA housing vouchers available for REO properties • RHS accepting preapplications for the Multifamily Preservation and Revitalization program • FY18 Fair Market Rents posted • McConnell and Rogers introduce bills to reform and move Appalachian Regional Commission • Regulators propose updates to CRA and HMDA regulations • HUD sets DDAs and QCTs for FY18 • GAO reports on USDA Rental Assistance shortfalls • U.S. Census Bureau releases 2016 income and poverty data • HAC publishes disaster guide supplement for recent hurricanes • HAC announces Section 502 Packaging Training for Nonprofit Housing Developers • Veterans Aging Summit set

HAC News Formats. pdf

September 21, 2017
Vol. 46, No. 19

September 15-October 15 is Hispanic Heritage Month.

Federal funding deadlines extended to December 8. Early in September Congress passed and the President signed a package including not only disaster funds, but also a continuing resolution and an increase in the federal debt limit through December 8. The continuing resolution extends funding for federal programs at FY17 levels with a 0.68% across-the-board cut to meet the Budget Control Act spending caps. Disaster relief totaling $15.25 billion is comprised of $7.4 billion for CDBG as well as monies for FEMA and the SBA. The measure also extended the National Flood Insurance Program to December 8. Separately, the House passed H.R. 3354, its omnibus appropriations bill for FY18. The Senate is not expected to vote on the bill in its current form. The White House issued a Statement of Administration Policy on the omnibus, saying the President would sign it if passed, but expressing “concern” about the bill’s funding for Section 502 direct loans as well as rural business programs and direct loans and grants for water and wastewater, claiming they are “duplicative” of other federal and private efforts.

USDA RD creates Innovation Center, requests comments. As part of the reorganization and realignment strategies at USDA, the RD Innovation Center will be tasked with evaluating the impacts of the business, housing, and utilities programs provided by the Department. USDA requests comments by October 7 on creation of this office and other changes elsewhere in the department. For more information, contact Donald Bice, USDA, 202-720-3291.

Patenaude confirmed for HUD, others nominated. On September 14 the Senate confirmed Pamela Patenaude to serve as HUD Deputy Secretary. President Trump has named three other HUD nominees: Brian Montgomery to be Federal Housing Commissioner, a role he held in the past; Robert Kurtz to be Assistant Secretary for Public and Indian Housing; and Suzanne Tufts to be Assistant Secretary for Administration.

USDA RD lists relief available to those affected by Hurricanes Harvey and Irma. RD disaster assistance information is available online for displaced residents, owners of USDA-financed multifamily housing, and homeowners with a USDA loan. USDA also has a department-wide disaster assistance page. For more information, contact an RD Service Center.

FEMA housing vouchers available for REO properties. The Federal Emergency Management Agency is making housing vouchers available to displaced families in Texas impacted by Hurricane Harvey. These vouchers may be used at assisted properties with vacant units on a temporary or permanent basis. For more information, contact John Carleton, FEMA, 202-870-4486, or Blair McDonald, FEMA, 972-795-5795.

RHS accepting preapplications for the Multifamily Preservation and Revitalization program. Preapplications for properties serving census tracts in persistent poverty counties or other areas with special housing needs will get extra points. Preapplications requesting multiple MPR funding tools (including debt deferral of eligible Section 514 or Section 515 loans) are due December 1. Preapplications requesting only debt deferral are due September 28 of next year, 2018.For more information, contact Dean Greenwalt, RD, 314-457-5933.

FY18 Fair Market Rents posted. Fair Market Rents for FY18 are now available online. HUD has also adopted methodology changes first proposed in May 2017 (see HAC News, 6/8/17). For more information, contact HUD USER, 800-245-2691.

McConnell and Rogers introduce bills to reform and move Appalachian Regional Commission. Sen. Mitch McConnell (R-KY) and Rep. Hal Rogers (R-KY) introduced S. 1824 and H.R. 3802 on September 18. The bills’ text is not available online as of press time, but the Washington Post reports the legislators want to move the ARC’s headquarters from Washington, DC to Appalachia and focus its work on the poorest places in the region.

Regulators propose updates to CRA and HMDA regulations. The agencies that regulate banks and savings and loans institutions request comments by October 20 on a proposal to update the existing definitions of “home mortgage loan” and “consumer loan.” The changes would conform to CFPB revisions made in 2015 to the Home Mortgage Disclosure Act regulations. For more information, contact Emily R. Boyes, Office of the Comptroller of the Currency, 202-649-6350. The Consumer Financial Protection Board recently made some changes and technical corrections to the 2015 HMDA rule. For more information, contact Shaakira Gold-Ramirez, CFPB, 202-435-7700, or submit a question online​.

HUD sets DDAs and QCTs for FY18. HUD has released its annual designation of Difficult Development Areas and Qualified Census Tracts for purposes of the Low Income Housing Tax Credit. For more information, contact Michael K. Hollar, HUD, 202-402-5878.

GAO reports on USDA Rental Assistance shortfalls. A new Government Accountability Office report explores factors that led to funding gaps for Section 521 RA in 2013-15. Rural Housing Service: Additional Actions Would Help Ensure Reasonableness of Rental Assistance Estimatesmakes four recommendations for better estimating RA needs.

U.S. Census Bureau releases 2016 income and poverty data. While some nonmetro counties are struggling, there is an overall positive trend in the economic situation in rural areas. Poverty numbers are down for those outside metropolitan areas. While income increased in 2016, the change was not statistically significant. Further details are at the Census Bureau website.

HAC publishes disaster guide supplement for recent hurricanes. A new supplement to HAC’s disaster guide includes information for survivors of both Harvey and Irma.

HAC announces Section 502 Packaging Training for Nonprofit Housing Developers October 17-19, Santa Ana Pueblo, New Mexico This three-day advanced course will teach participants to assist potential borrowers and deliver successful Section 502 loan packages. This course is intended for those experienced in using Section 502 and/or other affordable housing mortgage products. The registration fee is $750. For more information, contact Shonterria Charleston, HAC, 404-892-4824.

Veterans Aging Summit set October 20, University of North Carolina, Chapel Hill The event is sponsored by Purple Heart Homes, HAC, and the National League of Cities. For more information and to register contact Melanie Balousek, PHH, or visit www.phhusa.org.