Multifamily Posts Draft Notice to Close the Qualified Contract Loophole in the Low- Income Housing Tax Credit Program Housing
HUD-MFH Programs is soliciting feedback on new guidance that would “require applicants for Federal Housing Administration (FHA) Multifamily rental and Risk Share transactions to waive their qualified contract option for Low-Income Housing Tax Credits (LIHTC) pursuant to 26 U.S. Code § 42.” The draft notice is available on the Multifamily Drafting Table and members should utilize their Response Worksheet to provide your comments and email the worksheet to HSNG_MF_ProductionOffice@HUD.gov. HUD’s deadline for comments is Friday, September 20, 2024. NAHMA Members can reply to this email or send me comments by Wednesday, September 18, 2024, for consolidated industry comments. I am happy to complete the Response Worksheet if you just want to send me your comments.
HUD Publishes Revised HAP Assignment Form
HUD-MFH recently published a standard form (see attached form) for the Assignment, Assumption, and Amendment of Section 8 Housing Assistance Payments Contracts. This form went through a public comment process in Dec. 2022 and Feb. 2023. The form is now finalized and has been approved by the Office of Management and Budget. Please note that Use of this form is now required for any assignment of a Section 8 project-based rental assistance (PBRA) Housing Assistance Payments (HAP) contract.