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Yvonne Hsu

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Biden Releases FY 2022 Budget, Proposes Increased Investments in Housing

Today, the Biden Administration submitted to Congress the presidentā€™s budget request for fiscal year (FY) 2022. The budget request totals $6 trillion, the largest increase in federal spending in decades. The Biden Administration seeks $68.7 billion for the U.S. Department of Housing and Urban Development (HUD) and $27.8 billion for the U.S. Department of Agriculture (USDA), an increase of $9 billion (15 percent) and $3.6 billion (16 percent) over the FY 2021 enacted levels, respectively.

Biden Releases FY 2022 Budget Outline

Today, the Biden Administration submitted to Congress the presidentā€™s priorities for fiscal year (FY) 2022 discretionary spending. The administration seeks $68.7 billion for the U.S. Department of Housing and Urban Development and $27.8 billion for the U.S. Department of Agriculture, an increase of $9 billion (15 percent) and $3.6 billion (16 percent) over the FY 2021 enacted levels, respectively.

HUD Publishes FHA-HFA Multifamily Risk-Sharing Final Rule

On December 22, HUD published a final rule in the Federal Register amending existing regulations for the Section 542(c) Housing Finance Agencies Risk-Sharing Program. The final rule adopts without substantive changes the March 8, 2016, proposed rule HUD developed after dialogue with NCSHA and a working group of HFAs. The rule is intended to better align the Risk-Sharing program regulations with current industry and HUD policies and practices and provide greater flexibility for program participants.

HUD Extends HOME COVID-19 Waivers

HUD recently issued two new memoranda to revise, extend, and update the pair of memoranda issued on April 10, 2020, suspending certain statutory and regulatory requirements for the HOME Investment Partnership program and HOME-Assisted Tenant-Based Rental Assistance for Emergency and Short-Term Assistance in response to the COVID-19 pandemic.

HUD Allocates $1.988 Billion in Final Round of CDBG-CV Funds

The U.S. Department of Housing and Urban Development (HUD) announced on September 11 the third and final round of allocation of the $5 billion Congress provided in the Coronavirus Aid, Relief, and Economic Security (CARES) Act in supplemental Community Development Block Grant (CDBG) funding (CDBG-CV).

HUD Publishes CARES Act Guidance for Emergency Solutions Grants

On September 1, the U.S. Department of Housing and Urban Development (HUD) published a Notice announcing the allocation formula, amounts, and program requirements for the $3.96 billion in supplemental Emergency Solutions Grants (ESG) Program funding Congress provided in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help states and localities respond to the coronavirus pandemic (ESG-CV). The Notice also extends the waivers and flexibilities provided for ESG-CV funds to annual ESG funds for prior fiscal years so that grantees may use annual ESG resources as part of their coronavirus response.

CDC Temporarily Halts Evictions Nationwide

On September 1, the Centers for Disease Control and Prevention issued an emergency public health order to temporarily halt most evictions to prevent the further spread of COVID-19.

Executive Order Directs Agencies to Consider Ways to Prevent Evictions, Foreclosures

On August 8, President Trump issued an Executive Order to address COVID-19-related challenges for renters and homeowners. The E.O. directs a number of federal agencies, including the Department of Housing and Urban Development and the Department of Treasury, to consider actions to prevent eviction and foreclosure. However, it does not include specific policy changes.

HUD Awards $74 Million to State Housing Agencies for Housing for Persons with Disabilities

HUD announced on August 3 it had awarded more than $74 million in Section 811 Supportive Housing for Persons with Disabilities grants to 12 state housing agencies, including 10 state housing finance agencies. The awards will provide project-based rental assistance to approximately 2,400 units for up to five years.