Legislative Updates

AHMA-PSW’s Affordable Housing News 05/23/18

  • CTCAC is seeking input from Developers who are completing the joint CTCAC/CDLAC application.  Please email your comments to Mark Stivers and Shirley Hom.
  • HUD has announced a new Deputy Assistant Secretary for Multifamily Housing Programs, C. Lamar Seats. Mr. Seats most recently served as a Managing Director at M&T Reality Capital Corporation, where he was responsible for mortgage banking activities for commercial properties, including multifamily properties. Mr. Seats previously held leadership roles at Enterprise Community Investment, Inc. and Reilly Mortgage Group.  Mr. Seats replaces Acting Deputy Assistant Secretary Bob Iber, who will remain at HUD in a different capacity.
  • The Federal Housing Finance Agency (FHFA) is seeking comments on proposed amendments to its regulation on the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP).  Proposed changes include changes to allocation of mandatory contributions and targeted lending; eligibility of projects and recipients; calculation of recipient contributions; compliance monitoring; maximum awards; modifications on approved awards and replacement of existing scoring system.  Comments are due by June 12, 2018.  The text of the proposed rulemaking can be found here.
  • ADOH has announced the 2018 income and rent limits for Home Investment Partnership Program (HOME), Housing Trust Fund (HTF), Community Development Block Grant (CDBG), Neighborhood Stabilization Program (NSP) programs and National Housing Trust Fund (NHTF) have been released and are available for download.  Please download the Information Bulletin for additional information
  • HCD has announced Veterans Housing and Homelessness Prevention Program (VHHP) Application Workshop Webinar — Thursday, May 31, 2018.  This is a rescheduled webinar from May 18, 2018.  If you have not yet registered, please do it today!  You will find instructions for joining the webinar on our VHHP page prior to the session. If you have any questions, please contact our VHHP Program Manager, Monique Pierre, at Monique.pierre@hcd.ca.gov or 916.263.2707.
  • HCD will be migrating to the State of California’s new accounting system known as FI$CAL in July (See additional information below). To ensure an effective and efficient migration, HCD has established critical deadlines for submission and approval of disbursement requests. As a result, the final day to submit disbursement requests for payment prior to June 30, 2018 will be June 1, 2018.  If you are submitting a sizeable number of requests, please contact your representatives as soon as possible to ensure proper review and approval time.  Disbursement requests submitted after June 1, 2018 will not be processed until HCD successfully migrates to FI$CAL in mid-July. If we receive your request after June 1, 2018, your disbursement (availability of funds) may take four to five weeks longer than current processing times.  If you have questions or concerns, please contact your HCD staff representative.
  • HUD has announced a variety of trainings on the CNA E Tool that will be webcasted.  To see a list of the trainings or register click Here and search by the term CNA ETool.
  • The HCD Insurance Guidelines have had a recent and important change to the Liability Additional Insured requirement.  All liability coverage must name HCD as an Additional Insured for all liability coverages: Bodily Injury; Property Damage; Personal and Advertising Injury; HCD must be specifically named on liability endorsement CG 20 26 (07-04) Additional Insured – Designated Person or Organization, or equivalent form. The customary Additional Insured coverage extension for written contracts alone is insufficient, because it only provides HCD Bodily Injury and Property Damage coverage.  For the full text please visit: HCD’s Insurance Guidelines
  • The GAO has recently release recommendations after studying the issue of RD properties with maturing mortgages.  One of the recommendations is for Congress to grant RHS the ability to offer assistance to residents in properties with maturing mortgages.  For more info click Here
  • A bill (AB 2343) has been introduced in the CA Legislature to extend the number of days required to file in court on lease violations, including non payment, and to increase the time a tenant has to respond to the court filing.   AHMA-PSW will be watching this bill.