HUD Regulatory Compliance
Keeping up with all the operational regulations that HUD issues can be daunting. But we are here to help. LeadingAge staff tracks and analyzes HUD websites, notices and guidance to help you understand compliance requirements. Following are the most recent notices or policies statements straight from HUD.
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The U.S. Department of Housing and Urban Development (HUD) has published a housing notice regarding a new methodology for completing a multifamily housing utility analysis and related memorandum to encourage owner/agents to engage more fully in energy efficiency efforts including data collection and benchmarking.
On June 19, the U.S. Department of Housing and Urban Development (HUD) issued a memorandum essentially requiring residual receipts in excess of $250 per unit in all PRACs to be returned to HUD to offset future program appropriations.
The U.S. Department of Housing and Urban Development (HUD) submitted a report to Congress on the progress the agency is making in implementing Multifamily for Tomorrow (MFT), as it is now calling the multifamily transformation.
The Internal Revenue Service (IRS) recently released a memo indicating, for the first time, that an owner may avoid loss of credit due to circumstances where a current resident's income increases beyond certain allowable limits by extending the low-income housing commitment. Close attention to timing for executing this extension is essential.
All service coordinators working in U.S. Department of Housing and Urban Development (HUD) multifamily assisted housing serving the elderly and/or people with disabilities must complete and submit the Semi-Annual Performance Report, form HUD-92456, which was recently updated to a fillable PDF format. While the technical due date for the completed report was April 30, 2015, HUD informs us that late reports will be fine and are still required. Service Coordinators having difficulties utilizing the newly posted fillable report form are encouraged to do their best and skip any section that poses a problem. Those who have already filed using a non-fillable form do not have to resubmit.