Shutdown Fallout

The federal government shutdown over border-wall funding could mean late or reduced Section 8 voucher payments in January. The HUD program isn’t funded after the first of the year, but may use unspent authority from prior periods to fulfill obligations temporarily. The FHA can’t make new multifamily loan commitments during the shutdown, and the National Flood Insurance Program can’t sell or renew policies without new funding.
Construction-related injuries in New York City passed 2017’s total by October according to the latest Department of Buildings figures. Building is booming, and accidents are occurring on 1.5% of active job sites, Crain’s reports.
The wave of new housing construction is probably contributing to an 8 percent drop in residential sales in 2018, breaking a six year string of rising inflation-adjusted sales, according to the City’s Independent Budget Office.
Fact Sheet 11 on Demolition has been revised by the State Division of Housing and Community Renewal to reflect the increased focus on reporting regulated tenants in buildings being torn down or renovated.
As of January 1st, any mold assessment, abatement or remediation in a building with ten units or more in New York City must be done by a licensed professional. And new stove knob cover notices must be sent to tenants by January 5th. 
This entry was posted in Uncategorized. Bookmark the permalink.