HUD Lines

GOING GREEN
Recognizing "the affordable housing industry can make a significant impact in reducing energy consumption", "HUD's Office of Affordable Housing Preservation has launched a Green Initiative to give private, Section 8-subsidized rental complexes in its Mark-to-Market restructuring program incentives to use green building techniques in "needed rehab and maintenance." A property owner's use of "green" technologies may be deemed a "significant addition," cutting an owner's share of rehab costs from the usual 20 percent to as low as 3 percent. The owner must commit to maintain green standards for "at least as long as the term of the extended use agreement," usually 30 years. They may also qualify for a higher incentive performance fee if an on-site property manager is LEED-accredited. M2M has restructured 1,600 properties.

HUD WANTS TO KNOW
The July 12th Federal Register published HUD's proposed Fair Market Rents for fiscal year 2008 under the Housing Choice Voucher and the Substantial Rehabilitation/SRO programs. Comments via "snail mail" or electronically are due Monday, August 13th, 2007.

SPARC-TACULAR!
The Virginia Housing Development Authority has allocated more than $192 million in below market loans to almost 70 nonprofits, housing authorities, local governments and private developers to help some 1,200 Virginians buy homes in Round VI of its Sponsoring Partnerships and Revitalizing Communities - SPARC - Initiative. "Our partners have the knowledge of unmet needs," said VHDA's Don Ritenour, and "are in the best position" to "make every dollar count." HUD and Federal Home Loan Bank funds often help SPARC buyers with closing costs. SPARC awarded $116.9 million at 1/2 percent below VHDA's 1st-time homebuyer loan rate and $75 million at 1 percent below the rate for projects supporting VHDA's business goals. Over the last 5 years, SPARC has allocated $730 million to homeownership.

BRIEF BRIEFS
Appalachian Regional Commission hosts "how to apply" for its grants Thursday, August 2nd in Abingdon. . .Hampton Redevelopment & Housing's Frank Lofurno elected President of Southeastern Regional Council of NAHRO. . .Danville metro area tops $300 million, Lynchburg tops $900 million and Richmond tops $12.5 billion in total FHA-insured mortgages. . .HUD Webcast on New Construction - Energy Star, Green Building & Beyond set for 1 p.m. September 13th. . .Washington Post's Joel Garreau tells Rappahannock-Rapidan Regional Commission's Living Towns workshop in Sperryville that Internet has transformed rural communities into "places that are urban without being urban". . .Culpeper Renaissance marks 20th year as Main Street community. . .Floyd's Friday Night Jamboree celebrates grand - and very musical - reopening after DHCD-funded rehab. . .Telling Danville Register Bee grateful "is the only word I can think of," Clifton Johns moves family into 24th house by Danville-Pittsylvania Habitat for Humanity. . .Virginian Pilot says Virginia Beach United Methodist Church and City have teamed "to connect willing landlords with working families who need help transitioning from the streets to stable homes". . .Charlottesville Association of REALTORS holds trade show September 6th and Greater Piedmont Association holds show September 20th. . .Department of Historic Resources hosts rehab tax credit open house August 3rd in Richmond and August 17th in Stephens City. . .NOAA sets September 27th deadline for "locally-driven, grassroots" grants to "benefit living marine and coastal resources". . .Daily Progress profiles efforts of new director of Sheltering Arms shelter in Orange to make it "look like a home rather than an old office building". . .Nominations due September 10th for Opportunity & Empowerment Award, given by HUD Secretary and American Planning Association for a "community project that improves the quality of life."

CYBER-TUNITY
What do Ewing, Rose Hill, Nickelsville, Cleveland and Shenandoah, Virginia have in common? Each has won a USDA Community Connect grant that's helped them bring broadband to residents and essential facilities. And they may soon have company, with the announcement that $8.9 million is available for up to 25 grants to broadband "rural, economically-challenged communities." Local governments, nonprofits and small businesses may apply by the August 20th deadline. For more, visit www.grants.gov/search/search.do?oppId=14686&mode=VIEW

WORD TO THE WISE
As the hurricane season begins to roar, Virginia's Bureau of Insurance urges property owners to take one more look at their insurance coverage, particularly to see if their "policy contains a special deducible for wind or hurricane losses." They're separate from any other deductible and amounts vary. They, says the Bureau, "shift greater risk to the policyholder." It also urges owners to "prepare a complete inventory of personal property" and to make sure they have the name and number of their agent in the event evacuation is required.

QUOTE TO NOTE
The statewide nonprofit Housing Virginia believes "housing that is affordable not only to the corporate exec but also to the firefighter, the teacher and the burger-flipper is the basic building block for individual growth, community revitalization and economic development," The Roanoke Times wrote July 1st. Heeding a call from the HUD Secretary, it's "preparing to tackle the issue" by addressing regulatory barriers preventing "citizens from living and working in communities of their choice." "Not an easy one," it added, but "well worth the effort."

ROUND TWO
The Federal Home Loan Bank of Atlanta has just awarded a total of $505,200 in Round I, Affordable Housing Program grants to help Bay Aging, Fauquier Habitat and People Inc. of Southwest Virginia add 19 new homeownership units and 67 rental units And that means it's time for Round II of the Bank's AHP competition.. Funded with 10 percent of the Bank's net earnings, AHP awards up to $500,000 go through member institutions that partner with affordable housing groups. New applicants must register by August 27th with applications due September 17th. Call (800) 536-9650 or visit http://www.fhlbatl.com/fhlb_content.cfm?lev1=5cis&lev2=aahp&lev3=1about

DON'T FORGET
Register at info@vsnconf.org for 8th Virginia Statewide Neighborhood Conference, September 20th to 22nd in Chesapeake. For more visit www.vsnconf.org.

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