HUD Update: HOME and HTF September 14, 2016

HOME Budget FY 17 Administration Request - $950m New Legislative Proposals in Budget: Eliminate 24-month commitment deadline Eliminate 15% CHDO set-aside House and Senate marks - $950 million

Commitment Deadline Elimination Deadline no longer necessary because 2013 Rule established new deadlines for: Project completion within 4 years Rental unit occupancy within 18 months Sale of homebuyer units within 9 months FY 2002 and later HOME funds expire Feinstein-Portman Amdt would suspend commitment (not CHDO) deadlines occurring during 2016, 2017, 2018, and 2019

Elimination of CHDO Set-Aside Average HOME Cost per CHDO Unit is $57,618 $57,618 is 15% of $384,120 166 of 584 (28%) Local PJs’ FY 16 HOME Allocations < $384,120 Smaller HOME allocations means “effective” CHDO set-aside for 28% of local PJs is greater than 15%

Commitment Deobligations HOME Program Deobligations Requirement Years 2008 – 2013 (2010-2015 Deadlines)   Commitment Deobligations CHDO Deobligations Total Grant Year Deadline Year Amount # 2008 2010 $3,891,323 13 $609,297 9 $4,500,620 22 2009 2011 $3,766,926 14 $1,071,152 $4,838,076 23 2012 $13,440,789 42 $2,659,866 15 $16,100,653 57 2013 $18,194,994 47 $774,985 8 $18,969,979 55 2014 $12,297,439 27 $1,185,801 $13,329,652 2015 $16,031,044 37 $4,014,221 17 $20,045,265 54 TOTALS $67,622,515 180 $10,315,321 73 $77,937,836 253

HOME Deobligations 2008-2013 Grant Years   Commitment Deobligations CHDO Deobligations Total Grant Year Deadline Year Amount # 2008 2010 $3,891,323 13 $609,297 9 $4,500,620 22 2009 2011 $3,766,925 14 $1,071,151 $4,838,076 23 2012 $13,440,788 42 $2,659,865 15 $16,100,653 57 2013 $18,194,994 47 $774,985 8 $18,969,979 55 2014 $12,226,365 26 $1,103,287 $13,329,652 40 2013* 2015* $16,031,044 37 $4,014,221 17 $20,045,265 54 TOTALS $67,551,439 179 $10,232,806 72 $77,784,245 251

HOME Program CHDO Deobligations Requirement Years 2008 – 2013 (2010-2015 Deadlines)

Grant Specific Commitments Interim rule to be published in October Grant-specific method for determining commitments and 15% CHDO set-aside for FY 15 and subsequent grants Funds uncommitted after deadline cannot be recommitted Program income, recaptured and repaid funds will be addressed Other changes

HOME Guidance and Training CPD 16-15: Cost Allocation/Identifying HOME-Assisted Units in Multi-Unit HOME Development Projects; webinar planned CPD-15-11: Developing and Implementing HOME Underwriting & Subsidy Layering Guidelines; webinar posted CPD-15-09: Requirements for Committing HOME Funds; webinar posted Building HOME Web-Based Training – last 2016 delivery underway Rental Development Training (Chicago, March 16-17) PJs, state recipients, and subrecipients limited spaces still available; register at HUD Exchange

Housing Trust Fund HTF Allocation Plans due by August 16th 50 Grantees submitted plans 2 plans have been approved, grants pending 6 Grantees received waivers establishing alternate deadlines HTF IDIS module went live in late July

Housing Trust Fund Rents, income limits, and homeownership value limits published CPD-16-14 – HTF Environmental Provisions Webinar: September 20th, Registration Open Additional FAQs under development Beginning work on TA product on rental affordability for ELI households

Questions?