BROADCAST EMAIL – Regulatory Update
On November 23, 2020, CARH submitted comments on the Rural Housing Service’s (RHS) Proposed Rule entitled, Rental Assistance and Asset Management for the Multi-Family Housing Direct Loan Programs. In our comment letter, we set out several points including the Agency’s efforts to modernize the regulations and, in places, bring them into conformity with long-standing practices. At the same time, we noted a few areas for improvement and new recommendations. CARH’s Management Committee, under co-chairs Matt Melnick of T.M. Associates Management and Joan Franken of Costello Companies, reviewed the proposed comments and provided feedback, comments, and suggestions to be used in drafting CARH’s submitted comments. We were careful to incorporate a wide range of comments from the Committee.
As background, on September 23, 2020, the proposed rule was published in the Federal Register. According to RHS, the proposed rule was drafted “to amend its regulation to implement changes related to the development of a sustainable plan for the Rental Assistance (RA) program, including new Agency flexibilities in the managing of the RA distribution and integrate new asset management policies. The regulation changes are designed to provide flexibility, more economically utilize the RA, and to improve the efficiency in managing the assets in the Direct Loan portfolio.”
Please contact the CARH national office at carh@carh.org or 703-837-9001 should you have questions or concerns.