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HUD Office of Affordable Housing Programs

HUD Office of Affordable Housing Programs. NCDA’s Winter Legislative and Policy Conference January 21, 2010. TOPICS. A look back at FY 2009; FY 2010 and FY 2011 HOME and National Housing Trust Fund Budgets;

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HUD Office of Affordable Housing Programs

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  1. HUD Office of Affordable Housing Programs NCDA’s Winter Legislative and Policy Conference January 21, 2010

  2. TOPICS • A look back at FY 2009; • FY 2010 and FY 2011 HOME and National Housing Trust Fund Budgets; • HOME Policy Update – TCAP, Housing Trust Fund Implementation, HOME Proposed Rule; • IDIS Online Reports Status.

  3. A Look back at 2009 • New Administration • New Strategic Plan • New Vernacular: • Recovery, NSP 2, HPRP, TCAP • Transformation Initiative • Choice Neighborhoods • Catalytic grants • Rental Reformation

  4. A Look back at 2009 – cont. • HOME Accomplishments: • New homebuyers: 25,873; • Rental production: 37,861 (includes 18,763 TBRA); • Energy Star Certified Units: 4,652 • Units completed since 1992: 925,327 • Cumulative TBRA households: 216,563

  5. FY 2010 HOME and HTF Budgets

  6. FY 2011 HOME Budget

  7. TCAP Recap • Status of the $2.25 billion awarded (as of 1/11/2010): • Funds committed to projects: $1.1billion (47.3% of total); • Number of unit commitments: 23,558 • Amount disbursed: $87.8 million (4%) • Average per-project TCAP commitment and units: $3.2 million / 67 units

  8. Housing Trust Fund (HTF) • Awaiting Funding ! • Proposed Formula Rule Published- Comments Due February 4, 2010. • Expected Release of “Interim Rule” • Design principles: • Trust Fund: a ‘source of money’ for affordable housing - not a ‘program’ • Add to HOME Program Regulations

  9. HOME Proposed Rule • First major regulatory changes to HOME regulations since 1996, will address: • Property standards/energy efficiency • PJ and CHDO performance problems • Common compliance issues • Frequently misunderstood provisions • HUD will conduct outreach in January/February 2010

  10. HOME Program OIG Issues Act Now!

  11. OIG Audit - Program Income • IG audited 45 PJs regarding PI • 29 PJs drew down more than $79 million of HOME Program funds during 2007 and 2008 while they had PI on hand • 26 PJs had a combined $39.6 million of PI in their local accounts • 40 PJs did not report PI timely, accurately or at all during this period

  12. Program Income – cont. • Corrective Actions • Expedite programming and implementation of IDIS PI module to permit proper operation for PI draws • Incorporate additional PI questions in the HOME Monitoring Exhibits (CPD Monitoring Handbook)

  13. OIG Audit - Commitments • OIG internal audit looked at: • Date of IDIS project set-ups v. written agreements • Open Activities with no draws or no recent draws

  14. Commitments – cont. • IG found widespread instances of PJs funding projects in IDIS without executed written agreements due to: • Ignorance of rules • Deliberate attempts to avoid deobligation

  15. Commitments – cont. • Open Activities Problems • Huge number of open activities with no draws: • Our data shows 2,162HOME activities funded for more than 1 year with no draws • Overstating commitments by $341million • Similarly large number of open activities that are partially drawn but have not had draws for years

  16. Expiring HOME Funds • FY 2003 HOME funds subject to recapture by U.S. Treasury on 9/30/2010. • $62.8 million currently subject to recapture • See handout for YOUR state’s balance.

  17. HOME Reports Update • Available now: • Deadline Compliance Status Report • Open Activities Report • Vacant Units Report • Available later this month: • National Production Report • SNAPSHOTS (including Red Flags) • Dashboards • ADDI Accomplishments / Detail Reports

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