CARH'S BROADCAST E-MAIL –
Regulatory Update

September 26, 2014

The Department of Housing and Urban Affairs (HUD) published a Notice in today's Federal Register entitled, Administrative Guidelines; Subsidy Layering Reviews for Section 8 Project-Based Voucher Housing Assistance Payments Contracts and Mixed-Finance Development.

The Notice provides Administrative Guidelines (Guidelines) to Housing Credit Agencies (HCAs) in implementing subsidy layering reviews.  The Guidelines further implement the requirements of the Housing and Economic Recovery Act of 2008, in those cases where the HCA elects to conduct the review. Where HUD performs the review it will follow these Guidelines in implementing subsidy layering reviews to satisfy the requirements of section 102(d) of the HUD Reform Act of 1989.

The Guidelines also affect subsidy layering reviews for mixed-finance public housing projects and for newly constructed and rehabilitated structures combining other forms of government assistance with project-based voucher assistance under section 8 of the United States Housing Act of 1937.

Click here to read the full Notice.