Monthly Archives: October 2022

USDA Seeks Public Input on Ways to Make Funds Available Through the Inflation Reduction Act to Advance Clean Energy for People in Rural America

On October 28, 2022, Rural Development issued the following Stakeholder Announcement: Department to Host Virtual Listening Sessions on Nov. 3 and 4 WASHINGTON, Oct. 28, 2022 – U.S. Department of Agriculture (USDA) Rural Development Under Secretary Xochitl Torres Small today announced that USDA is seeking public input on how to use Inflation Reduction Act funding…

Rural Development: 2023 Interim Recertification Requirements for Tenants

CARH’S BROADCAST E-MAIL – Regulatory Update Please see the following information issued by Rural Development’s (RD) Office of Multifamily Housing regarding interim recertification requirements for tenants: On October 13, 2022, the Social Security Administration announced there will be an 8.7% increase in Social Security and Supplemental Security Income (SSI) benefits in 2023. The 8.7% cost-of-living…

Biden-Harris Administration Provides $759 Million to Bring High-Speed Internet Access to Communities Across Rural America

USDA Press Release: Biden-Harris Administration Provides $759 Million to Bring High-Speed Internet Access to Communities Across Rural America

HUD Statutorily Mandated Designation of Difficult Development Areas and Qualified Census Tracts for 2023

CARH’S BROADCAST E-MAIL – Regulatory Update In today’s Federal Register, HUD published a Notice entitled, “Statutorily Mandated Designation of Difficult Development Areas and Qualified Census Tracts for 2023” for purposes of the low-income housing tax credit (Housing Credit). Housing Credit developments in Designation of Difficult Development Areas (DDAs) or Qualified Census Tracts (QCTs) are eligible…

IRS Sets 2023 Housing Credit Per-Capita Multiplier, PAB, and Small-State Minimums; Allocates $5.4 Million to Unused Pool

With the release of two Revenue Procedures, the IRS sets the per-capita multiplier for nine percent LIHTCs ($2.75) and the small state minimum ($3,185,000), as well as the private bond multiplier ($120) and the small state minimum ($358,845,000) (Revenue Procedure 2022-38). The increases, which are tied to inflation, represent some of the highest amounts for…

RD Multifamily Housing Partnership Presentation

On October 13, RD’s Office of Multifamily Housing sent our the following information:   On September 29, 2022, Rural Development Multifamily Housing leadership held a meeting providing a quarterly update to our external partners.  The update included information about emergency management notifications, annual financial reports, preservation strategy for 515 portfolio, and lots of other pertinent…

The Biden-Harris Administration Announces Progress in Implementing its Housing Supply Action Plan; Publishing Housing Credit Average Income Rule and Deadline Extensions

CARH’S BROADCAST E-MAIL – Regulatory Update Today, the White House released a Statement announcing progress the Administration has made in its Housing Supply Action Plan accounted in May. Specifically, the statement announced several new steps the Administration believes will reduce barriers to affordable housing construction and preservation, and will make it easier to build affordable…

RD: MFH Transfers and Proposed Simple Transfer Pilot Program – Listening Session PowerPoint

On September 28, 2022, Rural Development held a Stakeholder Listening Session entitled, MFH Transfers and Proposed Simple Transfer Pilot Program. Click here for a copy of the PowerPoint used by RD in that session.

Request for Information: HUD Seeks Input on Design of New Green and Resilient Retrofit Program for Multifamily Assisted Properties

The information following was sent via the HUD Exchange: The Inflation Reduction Act (IRA), signed into law in August 2022, provides hundreds of billions of dollars of funding for economy-wide decarbonization. This funding is expected to reduce greenhouse gas emissions by up to 40 percent over the next ten years. The IRA includes $1 billion…

RD’s Multifamily Housing Program Continued Partnership with Fannie Mae and Freddie Mac to Preserve Affordable Rental Housing

Rural Development’s Office of Multifamily Housing sent out the following announcement:   Rural Development’s Multifamily Housing Program Continued Partnership with Fannie Mae and Freddie Mac to Preserve Affordable Rental Housing As part of our continued partnership with Fannie Mae and Freddie Mac, the Office of Multifamily Housing’s Production & Preservation Division is pleased to share…