Share Feedback with CLPHA by May 22 to Shape Our Comments
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HUD has published a proposed rule on Reducing Barriers to HUD-Assisted Housing. The proposed amendments would revise existing regulations that govern admission for applicants with criminal records or a history of involvement with the criminal justice system. The proposed rule also revises regulations surrounding eviction or termination of assistance of persons on the basis of illegal drug use, drug-related criminal activity, or other criminal activity Comments are due on June 6 (60 days after publication in the Federal Register). If you wish to submit feedback to CLPHA on this proposed rule, please send it to Malcolm Guy ([email protected]) by Wednesday, May 22. The proposed revisions would require that prior to any discretionary denial or termination for criminal activity, PHAs and assisted housing owners take into consideration multiple sources of information, including but not limited to the recency and relevance of prior criminal activity. This proposed rule would apply to the public housing and Section 8 assisted housing programs, as well as the Section 221(d)(3), Section 202, Section 811, and Section 236 programs. A high-level summary of the proposed rule:
CLPHA will provide a more detailed analysis of this rule shortly. |
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Income Limits Effective April 1
HUD has published the FY24 income limits that determine eligibility for the Public Housing, Section 8 project-based, Section 8 HCV, Section 202, and Section 811 programs. It also sets Multifamily Tax Subsidy Project income limits that determine eligibility for LIHTC and tax-exempt private activity bond-financed properties. The new income limits are effective April 1.
This year, HUD made a modification to the methodology for determining the cap on how much income limits can go up in a single year in any individual FMR area. If twice the change in national median income is over 10%, the cap in that year cannot be greater than 10%. HUD also released an FAQ explaining the change.
HUD estimates that in FY24 the cap of 10% allowed increase would apply to 21% of FMR areas. The average change in HUD’s Very Low-Income limit (VLI) across the HUD areas was 5.5%.
To Access Funds, PHAs Should Contact Awarded Coalitions
The White House today announced the award of $20 billion through the Greenhouse Gas Reduction Fund (GGRF). The $20 billion in awards announced will be deployed through eight selected applicants across two separate and complementary programs under EPA’s Greenhouse Gas Reduction Fund — the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA).
These GGRF awards will stand up a national financing network that will fund tens of thousands of climate and clean energy projects across the country, especially in low-income and disadvantaged communities. At least 70% of the funding announced today ($14 billion) will be invested in low-income and disadvantaged communities, surpassing the goal set by the Biden Administration’s Justice40 Initiative. PHAs interested in accessing funding for clean energy projects should contact the coalitions that were awarded these funds. Learn more on CLPHA’s Green Funding Clearinghouse.
Under the $14 billion National Clean Investment Fund (NCIF), selected applicants will partner with the private sector, community organizations, and other entities to provide accessible, affordable financing for new clean technology projects nationwide. The three NCIF awardees are:
- Climate United Fund ($6.97 billion award), a nonprofit formed by Calvert Impact to partner with two U.S. Treasury-certified Community Development Financial Institutions (CDFIs), Self-Help Ventures Fund, and Community Preservation Corporation.
- Coalition for Green Capital ($5 billion award), a nonprofit with almost 15 years of experience helping establish and work with dozens of state, local, and nonprofit green banks that have already catalyzed $20 billion into qualified projects—and that have a pipeline of $30 billion of demand for green bank capital.
- Power Forward Communities ($2 billion award), a nonprofit coalition formed by Enterprise Community Partners, LISC (Local Initiatives Support Corporation), Rewiring America, Habitat for Humanity, and United Way.
Through the $6 billion Clean Communities Investment Accelerator (CCIA), selected applicants will establish hubs that provide funding and technical assistance to community lenders working to finance clean technology projects in low-income and disadvantaged communities—leading to near-term deployment of climate and clean energy projects while building the capacity of community lenders to finance projects at scale. The five selectees of the CCIA are:
- Opportunity Finance Network ($2.29 billion award), a ~40-year-old nonprofit CDFI Intermediary that provides capital and capacity building for a national network of 400+ community lenders—predominantly U.S. Treasury-certified CDFI Loan Funds—which collectively hold $42 billion in assets and serve all 50 states, the District of Columbia, and several U.S. territories.
- Inclusiv ($1.87 billion award), a ~50-year-old nonprofit CDFI Intermediary that provides capital and capacity building for a national network of 900+ mission-driven, regulated credit unions that collectively manage $330 billion in assets and serve 23 million individuals across the country.
- Justice Climate Fund ($940 million award), a purpose-built nonprofit supported by an existing ecosystem of coalition members, a national network of more than 1,200 community lenders, and ImpactAssets—an experienced nonprofit with $3 billion under management—to provide responsible, clean energy-focused capital and capacity building to community lenders across the country.
- Appalachian Community Capital ($500 million award), a nonprofit CDFI with a decade of experience working with community lenders in Appalachian communities, which is launching the Green Bank for Rural America to deliver clean capital and capacity building assistance to hundreds of community lenders working in coal, energy, underserved rural, and Tribal communities across the United States.
- Native CDFI Network ($400 million award), a nonprofit that serves as national voice and advocate for the 60+ U.S. Treasury-certified Native CDFIs, which have a presence in 27 states across rural reservation communities as well as urban communities and have a mission to address capital access challenges in Native communities.
PHAs interested in gaining access to this funding should contact the selected awardees, as they will distribute the funds. CLPHA will continue to provide members with updates of funding opportunities for climate resilience and energy retrofits.
- View White House announcement
- View EPA’s press release