On February 5, 2024, in an unprecedented move by HUD, HSG Notice 2023-10 was replaced with a new, modified HOTMA Notice. While HUD told the industry updated guidance was forthcoming, we expected a new HUD HSG Notice, not a replacement for an existing HUD HSG Notice.
Don’t let the issue date on the new housing notice fool you! HSG Notice 2023-10 Implementation Guidance: Sections 102 and 104 of the Housing Opportunity Through Modernization Act of 2016 (HOTMA) still has the original Issue Date of 9/29/2023 but this updated version of the Notice includes many revisions to HOTMA guidance provided by HUD in September of last year (see Section 2.1).
Mary has been working behind the scenes for months with a cadre of industry experts across the country (trainers, software venders, owner / agents and other stakeholders) mapping out best practices and identifying implementation standards. Over the next few days, this group will conduct a full review. RBD will be providing updates through new HUDBlasts.
Please note, that after a cursory review, we can tell you that some of HUD's previous guidance has been modified.
Updates to EIV Policies and the property TSP are still required no later than 3/31/2024. With the new guidance provided in the modified Notice, we will be able to finalize updates to these and other critical site policies and supporting forms.
It is our intent to incorporate ALL of the latest guidance in our HOTMA Today 2024 classes. This will include a complete and comprehensive review of changes to HUD’s Multifamily Housing occupancy requirements that must be implemented in 2024 (many changes will be implemented when site software is updated).
We will also issue more information in the coming months, as we get closer to site software release dates.
Need more information? We will be talking about this HOTMA implementation strategies, in the HOTMA Today 2024 Online Training Workshops offered in February and March.