LeadingAge convened In Feb 2015 a group of housing providers and advocates interested in developing a preservation strategy to address the rehab needs of aging Section 202 project rental assistance contract (PRAC) properties. In 2016, the task force presented its three-pronged strategy and claimed an early victory as one component has already been included in the administration's FY17 budget proposal.
The long-awaited revised MAP guide was issued on January 29, 2016, and in it we have found some changes that are important to note for those using FHA financing for preservation of HUD funded properties.
HUD has issued Notice H 16-01 Passbook Savings Rate Effective February 1, 2016. The notice reflects no change in imputed income from assets.
The Financial Accounting Standards Board (FASB) has announced plans to move forward on proposed accounting standards changes for nonprofit organizations.
HUD announced January 20 the availability of $15 million in funding for up to 80 participants in a new Supportive Services Demonstration for Elderly Households in HUD-Assisted Multifamily Housing. The purpose of the Demonstration is to produce valid evidence about the impact of supportive services for the elderly on health outcomes.