Thursday, May 17, 2012

September 2011 RE News

rubinbrown-realestate
SEPTEMBER 2011

This newsletter is published by RubinBrown’s
Real Estate Services Group to inform our clients and contacts about
relevant industry updates, legislation and accounting information.

HUD's Proposed 2012 Fair Market Rents Show Declines Across The Country

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HUD’s proposed 2012 Fair Market Rents (FMRs) reflect decreased levels across approximately 70 percent of the nation’s counties. 

HUD uses FMRs in connection with many of its housing assistance programs, including the Housing Choice Voucher program as well as the Section 8 and Moderate Rehabilitation Single Room Occupancy programs.

For additional information, please click here.
   

Ratings Published On Nation's Housing Finance Agencies

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Fitch Ratings released its 2011 state housing finance agencies (HFAs) statistical report. The report overall indicated some financial improvement across a majority of the HFAs.

Of these improvements, the HFAs’ increase in net interest spread is noteworthy. As compared to 2009, 2010 showed a nearly 1% increase in the spread for all agencies. Fitch contributes the rise in the spread to a decline in variable-rate debt and retirement of higher-cost debt.

For more information, please click here.

   

HUD's Energy Innovation Pilot Program Provides Grants

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As part of its Multifamily Energy Innovation Pilot Program, HUD is looking to award $25 million in grants for energy efficiency upgrades.

Awards will be made in two areas: Financing Demonstrations and Applied Research Demonstrations. Individual applicant awards are capped at $7.5 million for Financing and $3 million for Applied Research.

For an overview of the application process and additional details, please click here.
   

HUD Disputes Home Program Criticism

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In further response to the Washington Post article critiquing the HOME Investment Partnership program from earlier this year, HUD analyzed the developments under scrutiny and has provided further clarification.  Included in HUD’s analysis were 5,100 developments. 

To review HUD’s additional insights to the article’s findings, please click here.


   

ST. LOUIS
Bryan Keller, CPA
Partner-in-Charge
Real Estate Services Group
314.290.3341
bryan.keller@rubinbrown.com

KANSAS CITY
Glenn Henderson, CPA, CFP
Partner
Real Estate Services Group
913.499.4429
glenn.henderson@rubinbrown.com

DENVER
Frank Seffinger, CPA, LL.B., LL.M.
Partner
Real Estate Services Group
303.952.1240
frank.seffinger@rubinbrown.com
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