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Affordable Housing Industry Updates, Changes to HUD, LIHTC, REAC, and USDA/RD Requirements
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IRS Published Final Regulations on the Average Income Test (AIT)
On October 7, 2022, the IRS released the long-awaited final regulation (Treasury Regulation 1.42-19), the Average Income Test (AIT). It is a great relief to see that this final regulation is a substantive departure from the proposed regulation published in 2020, which included many problematic provisions. What is the Average Income Test (AIT) again? In 2018, […]
Read MoreEliminating Unnecessary Housing Barriers
On April 12, 2022, HUD published a memo titled “Eliminating Barriers That May Unnecessarily Prevent Individuals with Criminal Histories from Participating in HUD Programs.” In this Memo, HUD Secretary, Marcia L. Fudge, announced a department-wide review of HUD’s programs to identify needed changes to ensure HUD’s programs (public housing, RAD, MFH, Vouchers, etc.) are as inclusive […]
Read MoreUSDA Updates Standards for Accessibility Transition Plans
On January 4, 2022, USDA Rural Development published an updated Unnumbered Letter (UL) 1-4-22 regarding the completion of Self Evaluations (SE) and Transition Plans (TP). First, and possibly most significantly, new accessibility transition plans are no longer required to be completed every three years. RD will accept a revised transition plan that has no changes other […]
Read MoreRD Issues Updated Guidance on Optional Smoke-Free Housing Policies
On October 13, 2021, Rural published an Unnumbered Letter (UL) titled “Multifamily Housing – Optional Smoke-Free Housing Policy”. This UL was issued to provide continued guidance on implementing an optional smoke-free policy at Multi-Family RD Housing. This unnumbered letter replaces UL issued 11/21/2012 on Smoke-Free housing (which replaced the Smoke-Free UL from 12/29/10). Changes from USDA/RD’s Last […]
Read MoreHUD Changes Rules in Evictions for Non-Payment of Rent
On October 7, 2021, HUD published an interim final rule titled “Extension of Time and Required Disclosures for Notification of Nonpayment of Rent,” which applies to public housing and properties with project-based rental assistance (PBRA) during Presidentially-declared national emergencies. The Purpose of HUD’s Eviction Rule The purpose of this rule is to ensure that tenants […]
Read MoreHUD Publishes Updated COVID-19 Q&A, Addresses ERA Program
On July 29, 2021, HUD published an update to the COVID-19 Q&A that started more than a year ago. Many of the updates to existing questions were to clarify previously issued guidance and extend certain deadlines and waivers. The majority of the new questions added are regarding the Emergency Rental Assistance Program. Below is an overview […]
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