BROADCAST EMAIL – Regulatory Update On August 26th, Rural Development (RD) published Procedural Notice (PN) 567 announcing final management fees for Fiscal Year (FY) 2023. This year, RD has used HUD’s FY 2022 Income Limits as the base management fee, versus their Operating Cost Adjustment Factors (OCAF), which have been used since FY 2015.…
Rural Development’s Office of Multifamily Housing Production & Preservation Division sent out the following announcements: Hello Industry Partners! I hope you are enjoying your summer. I am delighted to share with you the latest program announcements and priority initiatives in RD’s Office of Multifamily Housing, Production & Preservation (P2) Division. Tenant Selection Plans &…
CARH’S BROADCAST E-MAIL – Regulatory Update This week, Rural Development (RD) published a July 24, 2022, Unnumbered Letter (UL) entitled, “Section 515 and Section 514 Multi-Family Housing Reserve Deposit Resizing.” The UL was issued to provide guidance to all Multifamily Housing (MFH) program staff regarding the resizing of the reserve account deposits as it pertains…
CARH’s BROADCAST EMAIL—Legislative Alert Both the U.S. House of Representatives and the U.S. Senate are now in recess for the month of August. House members had left at the end of July but returned to Washington, DC on August 12th to vote on H.R. 5376, the Inflation Reduction Act (IRA) of 2022 that had…
On August 15, 2022, HUD’s Office of Housing sent the following information: Dear Multifamily Owners and Operators, The Office of Multifamily Housing recently published Housing Notice 2022-04/Mortgagee Letter 2022-12, introducing its new policy for delegating the process for approving borrowers’ requests for disbursement of funds from Reserve for Replacement (RfR) accounts to lenders. The Policy provides two options…
CARH’S BROADCAST EMAIL – MEMBER UPDATE On Friday, August 12th, at 12:00 p.m. EDT, CARH will be switching the host for our email service. We expect the change to take 2-3 hours, but it could be up to 24 hours before all emails sent to CARH are delivered. Outgoing emails may also be affected. Therefore,…
On August 3, 2022 a SAM.gov webinar was held. As you’ll recall, GSA’s Integrated Award Environment (IAE) will host a series of events to share information about how the entity validation process has changed and the improvements being made to the current experience. The first session focused on assisting entities that have begun the registration…
CARH’S BROADCAST E-MAIL — Member Update Did you ever wish there was an easier way to hear about newly released regulations from Rural Development (RD), Department of Housing & Urban Development (HUD), Department of Treasury, Internal Revenue Service, Small Business Administration, Government Accountability Office, and other agencies that impact the affordable rural housing industry? Well,…
CARH’s BROADCAST EMAIL—Legislative Alert Yesterday, the Senate passed by reconciliation, H.R. 5376, the Inflation Reduction Act (IRA) of 2022 (IRA), formerly referred to as the Build Back Better (BBB) Act. As has been reported over the last several months, the legislation that was likely to pass the Senate, would be a scaled down version of…
HUD’s Office of Housing released the following information on August 4, 2022: Dear Multifamily Owners and Program Operators, We are excited to share with you that the Family Self-Sufficiency (FSS) Program Notice of Funding Opportunity (NOFO) for Fiscal Year 2022 published today. For the first time, owners participating in HUD’s Multifamily Section 8 project-based rental…