President Obama outlines a plan to make homeownership more accessible and sustainable. A centerpiece of the Administration’s proposal would be to lower FHA premiums by 50 basis points, potentially saving borrowers as much as $900 annually.
The Rural Development Leadership Network is hosting an online auction to help promote entreprenuership in rural areas. For more information, visit the auction homepage at https://www.biddingforgood.com/auction/AuctionHome.action…
Please Refer a Friend and encourage them to participate so they don’t miss the fun and excitement. Please respond to rdln@ruraldevelopment.org.
September 25, 2014 – USDA Rural Development says that the continuing resolution (CR) to extend FY14 funding levels through December 11 also extends a provision related to the definition of rural used for the USDA rural housing programs. The FY14 appropriations law prohibited declaring any communities ineligible for the rural housing programs if they were eligible on September 30, 2013. President Obama signed the continuing resolution into law on September 19. As its name implies, the CR continues provisions of the FY14 law, including the prohibition on making places ineligible.
If a new FY15 appropriations law had been enacted, communities could have been determined ineligible based on population – if their populations grew to over 35,000 – or based on no longer being considered “rural in character.” USDA recently suspended all “rural in character” changes until at least September 30, 2015, so the CR’s suspension of ineligibility applies only to places with populations over 35,000. It will last until Congress enacts, and the President signs, an FY15 USDA appropriations law. It is possible that additional CRs will be adopted beyond December 11, maybe even for all of fiscal year 2015 (through September 30, 2015).
The Obama Administration invites a new round of eligible applicants to apply for a Promise Zone designation. HUD will designate six urban communities and USDA at least one rural and one tribal community as Promise Zones. This initiative targets high-poverty communities for job creation, economic development, and additional special assistance in an effort to drastically improve conditions for communities suffering persistent poverty. Applications are due November 21, 2014 by 5:00 PM EST.
To assist communities with the application process, HUD and USDA are hosting three Promise Zone Initiative Webcasts:
Tribal Webcast
September 29, 2014, Monday
1:00-2:00p.m. EST (please adjust for your local time)
Rural Webcast
September 29, 2014, Monday
3:00-4:00 p.m. EST (please adjust for your local time)
Urban Webcast
October 1, 2014, Wednesday
3:00-4:00 p.m. EST (please adjust for your local time)
HAC would like to congratulate John Henneberger of Texas Low Income Housing Information Service on his selection as a 2014 MacArthur Fellow. John received the honor in in recognition of his innovation with regard to post-disaster recovery.
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While there are now fewer homeless veterans than in the past, there are growing number of homeless veterans with families, including many women. NPR examines the unique needs of these populations.
The HAC loan fund is hosting two upcoming webinars that will provide an overview of its products and help organizations in rural areas better understand how to access and creative utilize capital from HAC.
Understanding HAC Loan Products: An Overview on Uses, Eligibility Requirements and Restrictions
The HAC loan fund lends only to organizations that develop housing in rural areas and does not offer programs accesible for individuals looking for housing. If you are looking for housing for yourself, visit our “Looking for Housing” page.
On August 7, 2014, HAC wrote a letter to Tony Hernandez, USDA’s rural housing programs administrator, to express concern about tenants in properties that will lose USDA Section 521 Rental Assistance when their USDA mortgages mature. Over 8,000 properties with Section 515 or Section 514 mortgages are expected to make their last payments to USDA by the year 2020. Because many of the tenants rely on USDA Section 521 Rental Assistance, which is available only when a USDA mortgage is in place, thousands of tenants in those 8,000 properties risk losing their aid when these mortgages mature.
HAC’s letter to Hernandez encourages USDA to follow HUD’s practice and ask property owners to notify tenants at least nine months before their Rental Assistance ends. The letter also asks for a dialogue between HAC, USDA, and other interested parties to identify approaches to keeping the housing affordable.