Access a pdf version of this HAC News. • House approves economic stimulus, Senate version under consideration • Senators propose Rural Revitalization Act • HAC offers Rural Homelessness Capacity Building grants • Funding for homeless veterans programs available • Bank Enterprise Award funds offered, comments sought on interim rule • HUD implements upfront tenant income verification process • FHFA proposes capitalization requirements for Federal Home Loan Banks • Housing Solutions Week 2009 planned • USDA updates state data sheets • Income tax credit outreach information available • Awards offered by Home Depot Foundation, Affordable Housing Finance magazine

February 4 , 2009
Vol. 38, No. 3

HOUSE APPROVES ECONOMIC STIMULUS, SENATE VERSION UNDER CONSIDERATION. The House of Representatives passed its economic stimulus bill, H.R. 1, on January 28. The Senate version, S. 1, is on the Senate floor at press time. S. 336, the version passed by the Senate Appropriations Committee on January 27, would fund a variety of rural housing and economic development programs, including $1 billion in Section 502 direct loans and $10.5 billion in guaranteed loans. H.R. 1 would fund Section 502 direct loans at $4 billion and guaranteed loans at $18 billion. For details, links, and updates, visit https://ruralhome.org/infoAnnouncements_2009EconRecovery.php.

SENATORS PROPOSE RURAL REVITALIZATION ACT. Senators Kent Conrad (D-N.D.) and Blanche Lincoln (D-Ark.) have introduced S. 323, the Rural Revitalization Act of 2009. It would fund a number of rural programs and, like H.R. 1, it would provide $4 billion in Section 502 direct loans and $18 billion in unsubsidized guaranteed loans. Find the bill’s text at https://thomas.loc.gov.

HAC OFFERS RURAL HOMELESSNESS CAPACITY BUILDING GRANTS. Faith- and community-based organizations serving homeless populations in places with under 25,000 population may apply for up to $15,000 in capacity building funds. Deadline is March 16. Visit https://ruralhome.org/rhcbfinancehome.php, call 1-877-842-RHCB, or email Darren Favello, HAC, darren@ruralhome.org.

FUNDING FOR HOMELESS VETERANS PROGRAMS AVAILABLE. The Department of Veterans Affairs Homeless Providers Grant and Per Diem Program is offering three types of funding, all with a March 25 deadline. State and local governments, tribes, and faith- and community-based organizations can apply for capital funds to expand or develop transitional housing projects. Nonprofits with expertise can request Technical Assistance grants to help community-based nonprofit groups to apply for homeless vets funding from any source. Current Grant and Per Diem Special Need recipients are eligible for grants to cover some additional operational costs. See Federal Register, 1/23/09, or https://www.va.gov/homeless/page.cfm?pg=3. Contact Chelsea Watson, VA, 1-877-332-0334.

BANK ENTERPRISE AWARD FUNDS OFFERED, COMMENTS SOUGHT ON INTERIM RULE. Applications are due March 13. Comments on revised regulations are due March 2. See Federal Register, 1/30/09, or https://www.cdfifund.gov. Contact CDFI Fund, cdfihelp@cdfi.treas.gov, 202-622-6355.

HUD IMPLEMENTS UPFRONT TENANT INCOME VERIFICATION PROCESS. PHAs and owners and managers of other assisted housing will be required to use HUD’s Enterprise Income Verification system, effective March 30. See Federal Register, 1/27/09, or https://www.hudclips.org. Contact Nicole Faison, HUD, 202-708-0744.

FHFA PROPOSES CAPITALIZATION REQUIREMENTS FOR FEDERAL HOME LOAN BANKS. Comments are due April 30. See Federal Register, 1/30/09 or https://www.regulations.gov. Contact Julie Paller, FHFA, 202-408-2842.

HOUSING SOLUTIONS WEEK 2009 PLANNED. Two new web resources for state and local policymakers and practitioners will be launched on February 18 and 19. Foreclosure-Response.org will provide information to help prevent foreclosures and stabilize affected communities. The HousingPolicy.org Discussion Forum will enable users to share ideas and questions. Visit https://www.knowledgeplex.org/xchat.html or contact Laura Woods, National Housing Conference, lwoods@nhc.org.

USDA UPDATES STATE DATA SHEETS. The Economic Research Service’s State Fact Sheets, which contain data on population, income, poverty, unemployment, and agriculture characteristics, have been updated with 2007 figures. Visit https://www.ers.usda.gov/StateFacts/.

INCOME TAX CREDIT OUTREACH INFORMATION AVAILABLE. Materials about the Earned Income Credit and the Child Tax Credit are available from a number of sources including the Center on Budget and Policy Priorities, https://www.cbpp.org/eic2009, eickit@cbpp.org, 202-408-1080 and the National Women’s Law Center, https://www.nwlc.org/details.cfm?id=3134&section=tax.

AWARDS OFFERED BY HOME DEPOT FOUNDATION, AFFORDABLE HOUSING FINANCE MAGAZINE. Nonprofits are eligible for the Home Depot Foundation’s Awards of Excellence for developing affordable homeownership or rental properties using green building techniques. Letters of inquiry must be submitted online by March 31. Visit https://www.homedepotfoundation.org/awards.html. • AHF’s Readers’ Choice Awards will go to Low Income Housing Tax Credit projects opening in 2008 or 2009; nominations are due April 17. General partner developers of LIHTC properties can be nominated for a “top 50” list by February 13 and young leaders (under age 40) by March 13. Visit https://www.housingfinance.com/newsletters/2009/ahfu011409.htm (Events/Announcements heading) or contact Donna Kimura, dkimura@hanleywood.com, 415-315-1241 ext. 309.