In the News

In the News

NMHC Creates Online Pandemic Flu Resource Center

May 31, 2009    

Although the number of swine flu cases is likely to drop this summer, it is expected to resurface in the fall and winter, according to the Centers for Disease Control and Prevention. To help site owners and managers develop or update their business continuity planning and emergency preparedness...

Benchmarking Tools Identify Energy-Saving Opportunities

May 6, 2009    

HUD's Office of Public and Indian Housing (PIH) was recently presented with an Energy Star Special Recognition Award for its dedication to furthering the Energy Star program. To promote energy efficiency in public housing, PIH has instituted guidelines, policies, and practices to encourage...

HUD Redefines 'Annual Income'

April 6, 2009    

March 30, 2009, marked the date that the U.S. Department of Housing and Urban Development's (HUD's) new rule on annual income was initially due to go into effect, changing the way that HUD and tax credit sites are expected to calculate annual income. In the final rule, Refinement of...

HUD Releases Videos for Deaf and Hard of Hearing

April 6, 2009    

The U.S. Department of Housing and Urban Development (HUD) has released online videos developed to educate deaf and hard-of-hearing consumers about their fair housing rights, housing counseling services, and loan programs offered by the Federal Housing Administration (FHA).

The videos...

Enforcing Occupancy Standards May Violate Fair Housing Act

March 8, 2009    

While federal guidelines suggest limiting occupancy to two persons per bedroom, sites cannot use occupancy standards to discriminate against residents based on their familial status. Residents of an Albuquerque, N.M., site filed that complaint with the U.S. Department of Housing and Urban...

HUD to Issue Final Rule Requiring Residents' Social Security Numbers

February 1, 2009    

In an RHIIP Listserv posted on Jan. 5, 2009, HUD alerted owners that it will soon publish a final rule revising regulations on the disclosure of Social Security numbers. The final rule will require all applicants for, and participants of, HUD's rental assistance programs to disclose their...

Single-Family Housing Starts Continue to Drop

February 1, 2009    

In October, single-family housing starts dipped 4.5 percent, from 549,000 units to 531,000, according to Census Bureau reports.

The slowdown was expected as “surveys of builder confidence and market expectations have been hovering in a historically low range for the past nine months...

Tax Credit Prices Continue to Drop

January 1, 2009    

Since June 2008, tax credit prices nationwide have fallen almost 5 cents per 10-year tax credit dollar. As of Oct. 1, 2008, tax credit prices are in the range of 75 to 82 cents per dollar. This figure represents a steep decline in value from a year ago, when prices were in the range of 90 to 95...

Affordable Housing Impacted by HUD Appropriations and Housing Acts

January 1, 2009    

The provisions of the recent 2008 and 2009 HUD Consolidated Appropriations Acts (P.L. 110-161, P.L. 110-329), and the Housing and Economic Recovery Act of 2008 (HERA; P.L. 110-289), will affect the preservation and development of affordable housing, as well as HUD's administrative policies,...

How Housing Act Will Help Site Developments

November 30, 2008    

The Housing and Economic Recovery Act of 2008 (H.R. 3221), which generally applies to buildings with placed-in-service (PIS) dates occurring after July 30, 2008, is expected to provide a boost to developers, says Glenn A. Graff, an Illinois attorney with Applegate & Thorne-Thomsen, PC, in...

Sites Suffer Spike in Gang and Youth Violence

October 1, 2008    

In August, the manager of a tax credit site in Newark, N.J., reported that during this past summer, residents have suffered an increase in criminal activity that has been unusual even for inner-city housing projects. For example, as reported in the New York Post on August 6, four teenage...

Sources of Tax Credit Equity Continue to Dry Up

October 1, 2008    

Two major government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, announced recently that they are not making new tax credit investments. Together, these GSEs accounted for approximately 40 percent of tax credit investment annually for the past decade or so.

A lower price for...