Multifamily Housing Partners,
The Office of Multifamily Housing (MFH) programs recently released the Housing Notices noted below.
Draft Notice of Processing Budget-Based Rent Increases for Public Feedback
In an effort to provide uniform guidance and clarify the circumstances under which HUD will approve a budget-based rent increase for projects subject to Low Income Housing Preservation and Resident Homeownership Act (LIHPRHA) Use Agreements, the MFH programs posted a draft housing notice to the Drafting Table for public feedback.
HUD is soliciting feedback to address the inconsistent processing and approval of budget-based rent increases pursuant to the Fixing America’s Surface Transportation Act of 2015 (FAST Act) language allowing for refinancing of such projects and including new debt service in the budget.
Input on the notice will help ensure guidance is flexible with fiscally responsible outcomes and looks forward to presenting a final version that considers the feedback received prior to the deadline.
Stakeholders are encouraged to submit input by Thursday, January 11, 2023, using the instructions outlined on the draft housing notice web page.
Notice of Certain Operating Cost Adjustment Factors for 2024 Publishes
HUD's Office of Multifamily Housing published a Federal Register Notice that establishes operating cost adjustment factors (OCAFs) for project-based assistance contracts issued under Section 8 of the United States Housing Act of 1937 and renewed under the Multifamily Assisted Housing Reform and Affordability Act of 1997 (MAHRA). The OCAFs provided in this notice are applicable to eligible projects having a contract anniversary date on or after February 11, 2024.
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