Last week NLIHC released The Road Ahead for Low-Income Renters, which summarizes research largely conducted during the pandemic on renters’ experiences and their needs going forward. The note summarizes findings from the Census Bureau’s Household Pulse Survey, rent payment trackers, and research conducted by NLIHC, the Housing Initiative at Penn, the Urban Institute, and other sources.
A new NLIHC report, Direct-to-Tenant Payment Implementation: Increasing Flexibility and Equity in Emergency Rental Assistance Programs, outlines why direct-to-tenant payments are needed in emergency rental assistance (ERA) programs and how program administrators can implement this feature. The report recommends that programs implement low-barrier, direct-to-tenant assistance with minimal additional documentation requirements, and that programs make clear in their public-facing materials and outreach that direct-to-tenant assistance is available. Programs should also pair direct-to-tenant assistance with housing stability services to ensure tenants can remain stably housed after they receive payment, even if landlords act in bad faith.
The Department of Treasury on July 22 released updated emergency rental assistance spending data, revealing an uptick in spending in June. By the end of June, grantees had paid out a total of $3 billion of the $25 billion allocation appropriated by the December 2020 “Consolidated Appropriations Act” (ERA1), almost doubling the amount paid out by the end of May. Despite the increased pace of distribution, only 12% of the allocation had been paid out as of June 30, just a month before the CDC eviction moratorium is set to expire. Further, while several states and localities are ramping up their fund distribution, many more remain stagnant. Only five states distributed more than 20% of their funds, and only 10% of localities distributed more than 50%.
The House Financial Services Committee held a hearing on July 20 titled, “Building Back a Better, More Equitable Housing Infrastructure for America: Oversight of the Department of Housing and Urban Development.” HUD Secretary Marcia Fudge served as the hearing’s sole witness, her first hearing before the committee as secretary. In her opening testimony, Secretary Fudge stated, “The president’s 2022 budget is just one part of his commitment to make generational investments into America’s housing. In addition to the vital support contained in this budget, the president has called for sweeping new housing investments through his ‘Build Back America’ agenda. These investments would help build or restore more than two million affordable homes. The ‘Build Back Better’ agenda would help more families of modest means realize the dream of homeownership, expand the supply of affordable rental housing, and help revitalize our public housing stock.” The president’s FY22 budget requests $68.7 billion for HUD, a 15% increase over FY21 appropriated levels.
Representative Ritchie Torres (D-NY) led 106 of his colleagues in a letter to House Speaker Nancy Pelosi (D-CA) and House Minority Leader Kevin McCarthy (R-CA) urging the inclusion of affordable housing resources in the upcoming infrastructure package. The letter calls for the HoUSed campaign’s top priorities to be included in the bill: multi-year, mandatory funding for housing vouchers to pave the way to universal housing assistance; at least $70 billion to address the capital repair backlog in public housing; and $45 billion for the national Housing Trust Fund to construct and preserve housing affordable to the lowest-income people.
Our friends at COCAR have scheduled their 6th Annual Commercial Real Estate Summit for Tuesday, September 14, 2021 at UCO Nigh Center in Edmond. This year’s event includes a track for Apprasiers & County Assessors and will include a LIHTC 101 taught by Darrell Beavers and a LIHTC Valuation Course taught by Chip Ard. This is a great opportunity for county assessors to lear more about how the affordable housing tax credit industry works and how these properties are valuated. CLICK HERE for more information or to register. OCAH Members are eligible for the discounted member rate through August 5th!
Last Day to register for the HOME Program Rental Training Virtual Session on Tuesday, July 27, from 9:00 a.m. – 12:00 p.m. and 1:00 p.m. – 2:00 p.m. The training includes HOME Rental Activities Part 1 & 2 and Construction Standards & Implementation. *This meets OHFA’s criteria for training points. 4 CE Hours available. Member Price: $50 | Non-Member Price: $75. Register Now!
PSO, Titan ES, the Tulsa Authority for Economic Opportunity (TAEO), and the City of Tulsa will be hosting a free webinar on the PSO weatherization program for landlords and property managers on July 26th at 11am. The weatherization program provides free home upgrades, such as attic insulation, air and duct sealing and more. Through this free webinar, landlords and property managers will learn if their rental properties qualify and what assistance might be available.
Register in advance for this meeting: https://us02web.zoom.us/meeting/register/tZIsde6hqjouEtESNBsTNU21I4tUCD1tEwQv
After registering, you will receive a confirmation email containing information about joining the meeting.
PSO, TAEO, and the City of Tulsa have recently hosted webinars on energy efficiency programs for landlords and property managers. If you were unable to attend, recordings will be available on the City of Tulsa’s YouTube page. To view the webinar on energy efficiency programs for single-family landlords, visit:https://www.youtube.com/watch?v=k0skJaniB4Y
Register Now for the HOME Program Rental Training Virtual Session on Tuesday, July 27, from 9:00 a.m. – 12:00 p.m. and 1:00 p.m. – 2:00 p.m. HOME Rental Activities Part 1 & 2 and Construction Standards & Implementation. *This meets OHFA’s criteria for training points. 4 CE Hours available. Member Price: $50 | Non-Member Price: $75