Capital Briefs

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Tax Credit Advisor, July 2009:

Federal Officials Announce Inter-Agency Partnership


Leaders of the U.S. Department of Housing and Urban Development (HUD), U.S. Department of Transportation, and Environmental Protection Agency have announced the formation of a new Partnership for Sustainable Communities. The new partnership is designed to coordinate and leverage policies, resources, and actions of the three agencies to improve access by Americans to affordable housing and better, less costly transportation options, and to improve energy efficiency in communities nationwide. In the area of housing, the objective is to develop strategies to “expand location- and energy-efficient housing choices for people of all ages, incomes, races and ethnicities to increase mobility and lower the combined cost of housing and transportation.”


(http://www.hud.gov/content/releases/pr2009-06-16factsheet.pdf)


DOE Issues Proposed Rule on Weatherization Program


The U.S. Department of Energy (DOE) has published a proposed rule that would make it easier for owners to access federal Weatherization Assistance Program (WAP) funds to help pay for energy-efficiency improvements to their multifamily rental properties. Comments are due 7/6/09.


The proposed rule follows an earlier memorandum of understanding between DOL and HUD. Under the proposed rule, units in public housing projects, eligible HUD-assisted rental projects, and low-income housing tax credit projects would be deemed to meet the weatherization program’s income and benefit eligibility requirements without the need for further evaluation or verification. To qualify, buildings must be identified by HUD and included on a list published by DOE.


HUD-assisted rental projects are defined as projects that receive project-based Section 8 rental assistance. Excluded are projects also assisted under HUD’s Section 202, 811, 221(d)(3) and (d)(5), and 236 programs. (For details on WAP, see Tax Credit Advisor, June 2009, p. 1.)


(http://edocket.access.gpo.gov/2009/pdf/E9-11890.pdf)   


HUD Posts Q&A’s on Energy Retrofit Program


HUD has posted on its Web site an 81-page “FAQ” document that provides in question-and-answer format additional information and clarification on different aspects of the Department’s new Green Energy Retrofit Program for Multifamily Housing. The stimulus act program offers $250 million in competitive grants and low-interest loans to owners to fund energy efficiency and green improvements in eligible existing HUD-assisted multifamily rental housing projects. The application window opened 6/15/09.


(http://portal.hud.gov/portal/page_pageid=153,7973195&_dad=portal&_schema=PORTAL)