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August 18, 2017
Don't Miss the 2017 NMHC Fall Board Meeting!
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NMHC’s 2017 Fall Board of Directors meeting is just around the corner and is the year’s best opportunity to meet with top lawmakers like Speaker of the House, Paul Ryan, engage with keynote speakers like Steve Case and J.D. Vance, network with industry peers and policymakers at a Washington Nationals vs. Atlanta Braves baseball game and participate in industry-relevant content forums and committee meetings.  

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Kick Off the First NMHC Leadership Forum: The Bottom Line Imperative of Diversity and Inclusion

To begin the upcoming 2017 Fall Board meeting, NMHC will hold the first NMHC Leadership Forum focusing on diversity and inclusion on September 12. This forum will focus on diversity and inclusion as critical drivers of continued business success with forward-facing content specifically designed for executives and senior-level apartment industry professionals. Engaging presentations and opportunities for attendee exchange will cover the role of leadership in leveraging diversity to drive innovation and business performance. Finally, it will feature Shankar Vedantam, Author, "The Hidden Brain" & Social Science Correspondent, NPR as our keynote speaker. 

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NMHC Insider
HUD Nominees Confirmed Ahead of Recess
Two senior nominees for positions at the Department of Housing and Urban Development were approved by the full Senate on Thursday, August 3rd and sworn in to their positions at the Department of Housing and Urban Development (HUD). Ms. Anna Farias was confirmed as the Assistant Secretary for Fair Housing and Equal Opportunity while Mr. Neal Rackleff was confirmed as the Assistant Secretary for Community Planning and Development. 
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Flood Resiliency Regulation Rolled Back; Infrastructure Permitting Streamlined
In a major win for the multifamily industry, President Trump issued an Executive Order today that will undo a proposed flood resiliency standard that would have substantially increased the costs of multifamily development and construction. This move was undertaken as part of a larger effort by the Administration to streamline the permitting process for infrastructure projects. The new Executive Order is aimed at speeding federal approval of major infrastructure projects like roads and bridges while designating one federal agency to shepherd each project towards approval within two years.
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HUD Suspends Small Area Fair Market Rent Implementation
Last week, HUD sent letters to Public Housing Authorities (PHAs) notifying them that the mandatory implementation of the Small Area Fair Market Rent (SAFMR) methodology would be suspended until 2020 for all metro areas except for the Dallas-Plano-Irving Metro Division. Individual PHAs may still choose to voluntarily use the SAFMR methodology, however. NMHC/NAA applaud this decision, as we have long held that zip codes, the geographic level that SAFMRs currently use, do not represent real estate markets and could adversely affect property owners and managers’ ability to provide affordable housing for families.
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Apartment Industry Provides Congress with Housing Affordability Solutions
The apartment industry this week provided Congress with solutions to address housing affordability challenges confronting the nation. Submitting detailed proposals ahead of a Senate Finance Committee hearing, America’s Affordable Housing Crisis: Challenges and Solutions, scheduled for August 1, NMHC/NAA called on Congress to expand housing tax incentives, fully fund housing programs and remove regulatory barriers.
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NMHC/NAA Asks IRS to Allow Partnerships to Push Tax Liabilities to Partners
On behalf of the apartment industry, NMHC/NAA sent a letter to the Internal Revenue Service (IRS) on August 11 requesting that final partnership audit regulations allow upper tier partnerships to push out tax adjustments to its partners rather than paying an entity-level tax with respect to the adjustment. The multifamily industry’s letter comes in response to proposed regulations released on June 13 that would overhaul how partnerships are audited.
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New HUD Report Highlights Affordable Housing Challenges
A recent study conducted by the Department of Housing and Urban Development (HUD) has found that “The number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015” according to reporting by Affordable Housing Finance.
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EPA Refrigerant Regulation Struck Down
A Federal Appeals Court recently struck down an EPA regulation that would have required manufacturers to replace hydrofluorocarbon (HFC) refrigerants.
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Registration Savings Ending Soon for the 2017 NMHC Student Housing Conference & Exposition
Join the leadership of the student housing industry, September 25-27 in Tampa, Florida. Taking place right at the start of the new school year, the event offers the earliest read on the industry's performance. Increased networking opportunities, a dynamic trade show floor, and expanded learning across capital markets and operations are a few of the reasons you won’t want to miss this event. Register today and save, registration savings end August 22!
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Upcoming Meetings

Alabama Special Senate Election Update
As most of official Washington enjoys the lull of August recess, voters in Alabama headed to the polls Tuesday for the first round in the special election to replace now Attorney General Jeff Sessions.
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Hill Watch
The House and Senate are in recess until September.
Media Roundup
It Starts With Rental Housing: 3 Key Considerations for Housing Finance Reform
State Senate Bills Aim to Make Homes More Affordable, but They Won't Spur Nearly Enough Construction
LA Times
Federal Home Loan Mortgage: Freddie to Consider Airbnb Rental Income
4 Traders
Meet Airbnb's Newest Competitor: Google
MBA President Stevens Defends Need for Multiple Guarantors in GSE Reform
The Scoop

Photos of the Renovations at the White House 

The White House is undergoing a major facelift while President Donald Trump is out of town. The Oval Office and other working quarters of the West Wing have been cleared of furniture while crews work on upgrades, including to the heating and air conditioning system.

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