VOTE IN DELAWARE'S PRIMARY ELECTION ON TUESDAY, SEPTEMBER 9TH:
Polls open at 7:00 a.m. and close at 8:00 p.m. To find your poll location,
visit
http://pollingplace.delaware.gov or call 1-866-276-2353.
Delaware Clean Water Advisory Council:
The Council met and reviewed the project status for projects being funded by the Clean Water State Revolving Fund, the financial status of the Water Pollution Control Revolving Fund, the unexpected $1 million appropriation to the 21
st Century Fund from the Bond Bill Committee, the need for revised project priority ranking criteria and had a lengthy discussion about the need for additional funding for the Rehoboth Beach Point Discharge Elimination Project. Their next meeting will be on October 15
th.
Stormwater Regulation Update:
DNREC Sediment and Stormwater Program staff has been coordinating with the Center for Watershed Protection (CWP) to clarify the comments of the Regulatory Advisory Committee (RAC) in development of the first working draft. In June, DNREC received the first working draft of the revised regulations from CWP and went to work reorganizing the draft regulations and pulling sections out of the regulations to be included in a technical guidance document.
Currently, DNREC is assembling the technical guidance document. The draft regulations define what must be addressed, while the technical guidance document will define how implementation of the regulations will be accomplished. Subcommittee comments are being used to shape the guidance document.
Some major issues needing further definition within the regulations and guidance document remain. These issues include post construction stormwater management criteria including water quality requirements, stream protection criteria, infill, redevelopment, and brownfield criteria, stormwater credits, and downstream capacity analysis, as well as easements, financial guarantees, and all elements of maintenance. CWP has researched these topics regarding how surrounding states and areas with similar physical characteristics have regulated these issues. Their research will help us to determine the path forward on these topics. The next meeting of the RAC will be scheduled in early October to review the updated documents.
Tax Ditch Update:
DNREC staff is working to implement the legislative changes passed during the 144
th General Assembly. Staff have indicated that a formal GIS survey is being developed, certifying lists of rights-of-way in the counties is being prepared to submit to the Recorder of Deeds.
Pollution Control Strategy:
DNREC is expected to send the Final Regulations to the House Energy and Natural Resources Committee at any time now for their final comment before the regulations are adopted.
Governor Minner Signs Foreclosure Legislation:
On August 21
st, Governor Minner signed three separate bills. HB 507 increases the annual license fee for a mortgage loan broker from $250 to $500. The additional $250 would be allocated to and for the assistance of the Delaware Emergency Mortgage Assistance Program. Governor Minner also signed HB 508 which provides for the licensing and regulation or mortgage loan originators by the State Bank Commissioner and SB 252 which regulates foreclosure consultants and foreclosure reconveyances in order to protect homeowners from foreclosure rescue schemes that deplete the homeowner's equity.
Housing Development Fund Applications Being Accepted:
The Delaware State Housing Authority has removed the moratorium on applications for funding the Housing Development Fund. The HDF provided financing for developers and homeowners through sponsoring agencies. Types of developments that will be considered include, but are not limited to, the acquisition and/or rehabilitation of existing housing, the adaptive reuse of nonresidential buildings, and new construction. Both rental and for-sale housing will be considered. For further information, please contact Jerry Jones at
jerry@destatehousing.com or visit their website for HDF requirements at
www.destatehousing.com.
Fannie, Freddie Raise Adverse Market Fee:
In light of its losses, secondary mortgage market company Fannie Mae will charge a 0.50 percent adverse market delivery fee, up from 0.25 percent, to "align pricing with credit risks," the company
announced. Freddie Mac has announced a similar policy. Fannie Mae fees for some other categories of mortgages will change as well, with the fee amount depending on credit score and loan-to-value ratio. Fees are being raised for mortgages where the borrowers have credit scores of 620 to 739 and LTVs of 75.01 to 80 percent. For borrowers with credit scores of 620 or above with an LTV of at least 85.01, the fees are being reduced by 0.25 percent. The Fannie Mae changes take effect October 1. For more information contact
Jeff Lischer, (202) 383-1117.
Understanding the Homeownership Tax Credit:
NAR has prepared a brochure on how the tax credit passed as part of the housing stimulus bill last month can help home buyers. Go to
REALTOR.org and click on "
New Home Buyer Tax Credit." The brochure is also available in the www.DelawareRealtor.com
Legislative Section.
