Legislative Updates

AHMA-PSW’s Affordable Housing News 05/16/18

  • HCD and CalHFA have announced the updated Audited Financial Statements Handbook for Multifamily Rental Housing dated April 2018. All audits submitted to HCD or CalHFA for the operating year 2018 and forward must comply with this April 2018 handbook. The two significant changes to the handbook are:  Due to the need for more detailed data about on-site services provided, supportive services costs must now be reported in HUD Account #6990 Supportive Services Costs rather than the previous HUD Account #6390 Miscellaneous Administrative Expenses. See page 8, A-6, A-8, A-22 for further detail; and There is now clarification that Appendix B should only be used as a guide for projects with no HCD funding, and either CalHFA administered HUD Section 8 contracts or HUD Section 8 with a requirement to submit Audited Financial Statements to HUD/REAC as part of the Financial Assessment SubSystem. See pages 3 and 7 for further detail.
  • HCD and CalHFA have also announced The Annual Operating Budget form was also recently updated to include the use of Supportive Services account #6990 in lieu of Misc. Administrative account #6390.
  • The following HUD Information Collections are open for comment due to OMB Review:  Budget Based rent Increases (HUD-92457-a) due 5/23; Management and Occupancy Review (HUD-9834) due 6/23; CNA E Tool (due 6/10)
  • The House draft THUD Appropriations Bill is now available.  It maintains and increases the affordable housing gains the FY18 Appropriation.  This is a stark contrast to the President’s proposed budget.  The draft bill may be viewed at https://docs.house.gov/meetings/AP/AP20/20180516/108309/BILLS-115HR-SC-AP-FY2019-TransHUD-SubcommitteeDraft.pdf.  Contact your legislators to show support for the House version.
  • Representative from the city of Malibu in conjunction with the Malibu Homelessness Strategic Plan Community Advisory Group will conduct the City’s draft Strategic Plan on Homelessness for community review on Thursday, May 24 at 7:00 p.m. at City Hall.