Reducing Regulatory Burdens on Affordable Housing Developers


As the demand for affordable rental housing increases and budgets tighten, it’s more common than ever for developers and owners to work with several federal agencies in order to house the lowest-income tenants.  But, when a development is funded by more than one federal program, owners must comply with multiple – even redundant – regulations and a host of extra paperwork. There is good reason to be thorough; because federal agencies are entrusted with administering taxpayer dollars, it’s important that agencies oversee the projects and ensure that owners are meeting each program’s requirements. However, because resources are scarce, eliminating duplicative inspections and burdensome regulations would actually save taxpayer dollars and ensure that owners can focus on providing effective and critical services to those most in need.

That is why on November 7th, 2011, the Obama Administration announced that six states – Michigan, Wisconsin, Ohio, Minnesota, Washington and Oregon – were selected to test new approaches to reducing regulatory burdens on affordable housing developers. Officials in Wisconsin and Michigan signed agreements to eliminate unnecessary physical inspections at rental housing projects subsidized through more than housing agency, saving scarce local, state, and federal resources and reducing a significant burden on affordable housing operators and low-income tenants.

Read the full article on The HUDdle.

Written by:

Related Posts

New MAP Guide Released September 15 915 2011
HUD Takes Aim at Loan Delays March 1 301 2012
Certainty Of Execution March 2 302 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Multifamily Real Estate in Demand September 11 911 2013
Ohio Housing Conference October 24 1024 2013
RAD Program Updates January 28 128 2015
New MAP Guide Changes February 1 201 2016
Exciting Changes at HUD February 3 203 2016
HUD Construction Financing March 18 318 2016
VAHCDO Annual Conference March 19 319 2016
New LEAN Handbook May 23 523 2016
ahf-faq-5-copy_26562408-1.png Affordable Housing Finance FAQ January 11 111 2018
Top 5 Reasons We Love HUD January 31 131 2018