07/26/2013
IN THIS ISSUE:

The Jury is In: RAD is a Success

On July 11, the RAD Team hosted an event, “Expanded Flexibilities in RAD: Key Changes in the Revised Notice,” which put to rest any doubts of RAD’s success. Although the event took place shortly after the release of the revised notice, many housing authorities that were unable to convert under the original notice have already begun to apply for RAD using the new flexibilities. Several large housing authorities have made known their consideration of multi-phase and portfolio-wide conversions, which could mean that the demonstration's 60,000 unit cap will be reached before the end of the year.

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Preserving What Works: The Low-Income Housing Tax Credit

The Low-Income Housing Tax Credit (Housing Credit) is at risk in the current tax reform debate. With Congress seeking to bring down tax rates and streamline the tax code, all tax credits and deductions — even extremely successful ones like the Housing Credit — may be substantially reduced or eliminated. CLPHA strongly supports the Housing Credit, which works with other affordable and assisted housing resources to create vibrant, sustainable, mixed-finance developments. A Los Angeles Times editorial on July 26 argues for the preservation of this “comparatively small but vital credit for the construction of rental housing for the working poor.”

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HUD Clarifies Deadline for CY14 Operating Fund Subsidy Processing

In the July 3 CLPHA Report, CLPHA noted that the CY14 Operating Fund Subsidy processing deadlines were inconsistent between HUD communications. HUD has addressed this concern by providing housing authorities with the later of the two deadlines: HUD 50058 data for the Operating Fund reporting period will be accepted until the close of business on August 1, 2013.

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CLPHA Member News

CLPHA members continue to revitalize their neighborhoods and improve life outcomes for residents, despite the impacts of sequestration and budget cuts. Chicago's Learn and Earn summer program is offering an academic and career development opportunity for 700 Chicago Housing Authority youth. Houston Housing Authority and partners helped provide housing and services to 85 homeless veterans on a single day. The Housing Authority of the City of El Paso broke ground on the city's first mixed-income, mixed-finance community. Find out more on these activities and the latest news from members in Chicago, El Paso, Hoboken, Houston, Los Angeles, Milwaukee, New York, Paterson, Philadelphia, Portland, and San Bernardino.

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