2022 CAUCUS MEETING INFORMATION!
- Wed. June 8th – 10 am ET/9 am CT – Lamar Community Building, Memorial Park, 510 Bert Street, Johnson City, TN 37601
- Wed. Nov. 2nd – 11 am ET/10 am CT – Location TBD
TN Caucus Members: Your production report is due 1 week + 2 days before each caucus meeting and can be accessed here: https://www.surveymonkey.com/r/CaucusMemberUpdates
PREVIOUS CAUCUS MEETING INFORMATION
- Wed. Feb. 16th – Caucus Packet
- 10/20/21 – TN Caucus Packet 10.20.21 – Notes & Take-aways
- Caucus Packet – Wed. June 30, 2021 – Minutes not yet approved
TNHAF – Homeowner Assistance FUND – Mortgage Relief Now Available!
The TN Homeowner Assistance Fund (TNHAF)program, an initiative established through the American Rescue Act of 2021, IS NOW OPEN! If you are behind on your mortgage payment, you may qualify for assistance. Basic Qualifications include the following:
- COVID-19 related hardship that occurred after January 21, 2020;
- Past due mortgage balance that does not exceed $40,000;
- Household income less than $119,850
Please check the website for which mortgage servicers are eligible (addt’l mortgage servicers will likely be added)
| Tennessee will be allocated roughly $458 million from the federal government for COVID-19 Rent Relief and Governor Lee has tasked THDA with administering these funds for the majority of the state. THDA is working now to develop a web portal for applicants, establish a call center for application assistance, and prepare an adequate number of staff to review and process thousands of payments to landlords and utility providers. |
Further, the US Treasury is expected to release additional funding guidance later in January that will impact our program administration. While this is a big challenge, THDA is working to open the COVID-19 Rent Relief program as soon as is practical. Based on the experience of other states and what we are hearing from the vendors we expect to work with, we anticipate it will take at least eight weeks for THDA to be ready to disburse funds.
Of note, several eligible communities have chosen to run their own program. Residents in those areas will not be eligible to apply for COVID-19 Rent Relief through THDA, but will be able to apply through their community programs. Those communities that will run COVID-19 Rent Relief/emergency rental assistance programs include:
· Knox County
· Shelby County
We will keep you updated on our progress and provide you with information as it becomes available. In the meantime, you can direct constituents to our website where they can sign up to be notified when the THDA application portal opens. COVID-19 Rent Relief information
1/10/22 – TCAC’s Downpayment Assistance Still Available!
Our DPA program max is up to $14,999
Eligibility is based on HUD 80% AMI limits adjusted for household size for the county of purchased unit
THDA approved and enlarged our coverage area to include the following counties: Greene, Hamblen, Jefferson, Cocke, Claiborne, Union, Grainger, Sevier, Campbell, Scott, Morgan, Blount.
Restrictions – interest rate cannot exceed THDA Great Choice rate by 1%, and not combined with other THDA HOME funds in project
- Homebuyer will need to submit an application (linked) with income documentation to determine eligibility (agency can help with this!)
- TCAC issues a letter of approval
- Send TCAC copy of purchase contract
- Send TCAC copy of loan approval
- TCAC will do a virtual home inspection before closing (very simple, no cost)
- Send copy of draft Closing Disclosure at least 7 days prior to closing if possible – we must forward to THDA for approval, so of course we need some turnaround time for them to process
- TCAC sends funds, grant note, and DoT to closing (DOT recording fees should be added up front in closing costs estimates)
Disaster Reconstruction Funds Update – View our current list of disaster declarations by county to see if your area is eligible.
Eligibility rules for those applying for DRP funds include:
- Eligible households have either been displaced or suffered damage to their primary residence by a federally or state declared disaster occurring within the Fifth District.
- Household income must be less than or equal to 100 percent of the applicable Mortgage Revenue Bond income limits. In Hamilton County, Tenn., for a family of one or two persons, the limit is $67,800 and for a family of three or more, the limit is $77,970.
- Allowable expenses include construction, acquisition, or repair of a primary residence, which must be a single-family detached home or manufactured home permanently attached to a fixed foundation and taxed as real property where the applicant is the owner of record. FHLB funds cannot be used for expenses covered by insurance or state or federal emergency management agencies.
Help Community Heroes Purchase a Home – New Program! Community Heroes, in partnership with FHLB-Atlanta helps law enforcement officers, public school educators, firefighters, and other first responders purchase a home. Learn more HERE
Office of National Drug Control Policy
We are very excited to share that on Friday, the Administration released a new tool to assist rural community leaders in building an effective local response to the crisis of addiction, the Rural Community Action Guide: Building Stronger, Healthy Drug-Free Rural Communities.
The guide complements both the Community Assessment Tool, which gives county specific data about deaths and factors which may make a community more vulnerable to addiction, and the Federal Rural Resources Guide, which includes comprehensive information about different federal funds for rural communities impacted by addiction. The Guide also has a companion supplement, a listing of promising practices which you can find here: Rural Community Action Guide: Promising Practices.
Per Anne Hazlett, news sent on funding announcements every few weeks- to be added to that list, please email Betty-Ann Bryce