On January 31, 2023, HUD published the Housing Opportunities Through Modernization Act (HOTMA) Final Rule, in a preview version, as its first step in implementing many sweeping changes to HUD programs. HOTMA was passed on July 29, 2016, and is aimed at modernizing...
The highly anticipated Operating Cost Adjustment Factors (OCAFs) for 2023 were released on November 15th. As expected, the OCAFs are much higher than usual and are reflective of changes in HUD’s methodologies, recent economic circumstances, inflation, and...
On October 31, 2022, HUD published Notice H 2022-06 announcing the continued availability of supplemental operating funds for Section 8, Section 202, and Section 811 properties to prevent, prepare for, and respond to the coronavirus disease discovered in 2019...
The long-awaited Cost of Living Adjustment (COLA) for Social Security benefits was announced on Thursday, October 13th. Social Security and SSI recipients will see their entitlements increase by a staggering 8.7% beginning in January 2023. This, combined with the fact...
The Internal Revenue Service (IRS) has released the long-awaited Final and Temporary Regulations on the Average Income Test Minimum Set-Aside for Low-Income Housing Tax Credit (LIHTC) properties. The announcement came on Friday, October 7, 2022, and will be published...
While it’s not news to most Americans that rents have been rising precipitously for the last five to ten years, it will likely come as a pleasant surprise for folks to learn that HUD has taken bold action to increase its Fair Market Rent computations in an attempt to...
Seven years after releasing the Proposed Rule and receiving comments, HUD has published the Final Rule on the new risk-based Management and Occupancy Review (MOR) schedule, effective September 26, 2022. Under the new rule, MORs will occur on a one, two, or three-year...
On May 9, 2022, HUD’s Office of the Deputy Assistant Secretary requested owners/agents and Public Housing Agencies to advise assisted residents to sign up for the Affordable Connectivity Program (ACP). Over 11.7 million low-income households have already benefitted...
On April 21st, 2022, HUD’s Office of Fair Housing and Equal Opportunity (FHEO) released two documents designed to clarify the necessary steps to ensure that a HUD-subsidized multifamily property is in compliance with Title VI of the Civil Rights Act of 1964. Title VI...
Today, April 21, 2022, marks the 50th anniversary of the signing of the Executive Order of the President that called for the creation of the National Center for Housing Management. It is an appropriate day to look back and look forward. Over these fifty years, NCHM...
