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51 February 2025 J O U R N A L February 2025 » ties and professionals who have been through the process of recovery and makes dozens of survivor-centered improvements to accelerate recovery," said Marion McFadden, Principal Dep- uty Assistant Secretary for Commu- nity Planning and Development. "I'm proud to say that we did everything we could—absent permanent authoriza- tion by Congress—to strengthen the program, reduce red tape, and support survivors as they rebuild." Until HUD receives permanent au- thorization for the CDBG-DR program, Universal Notice is intended to provide publicly informed, consistent guidance for communities recovering from disas- ters. The Universal Notice incorporates many of the public's comments and rec- ommendations, including updates to: • Improve outcomes, increase access to information, and simplify docu- mentation requirements for disaster survivors. • Expand and extend eligible activities for rental assistance and disaster relief, including allowing reimbursement for these expenses. • Create new eligible activities for local disaster preparedness and resilience. • Align more closely with FEMA requirements for environmental reviews and community-driven relocation. • Streamline Action Plan require- ments and encourage broader com- munity engagement in the Action Plan Formation process. • Reduce administrative burden on grantees, creating greater f lexibil- ity regarding building standards, implementation requirements, and financial management procedures. HUD will continue its partner- ship with FEMA on the Pre-Disaster Housing Initiative, which helps states develop plans to boost their pre-disas- ter housing capabilities. HUD will be announcing a Universal Notice Webi- nar Series that will take grantees and the public through the steps outlined in the Universal Notice and ensure they are ready to immediately begin the development of their CDBG-DR Action Plans. HUD will also provide grantees with an Action Plan Template to sup- port their overall design and creation of the required components of the plan. "Every community that's been struck by a disaster needs and deserves help and that's exactly what CDBG-DR funding provides," said Sen. Brian Schatz, Chairman of the Appropria- tions Subcommittee on Transportation, Housing, and Urban Development. "For decades, CDBG-DR has been a lifeline for communities building back from devastation, helping survivors rebuild their homes, small businesses, and communities. This new funding will help survivors across the country, including in Lahaina, get back on their feet as quickly as possible." FREDDIE MAC MULTIFAMILY ANNOUNCES BILLIONS OF MBS ISSUED IN 2024 T hrough its multifamily risk transfer platform, Freddie Mac issued an estimated $56 billion worth of securities in 2024, shifting the majority of anticipated credit risk, interest rate risk, and liquidity risk from American taxpayers to private investors. In addition to $22.1 billion in Multi PC issuances during the year, Freddie Mac Multifamily settled $27.7 billion in K-Deals—the company's f lagship offering. The corporation exceeded the $24 billion milestone in total issuances for its mission-driven Impact Bonds since the program's launch in 2019 and re- sponded to market demands in 2024 by launching multisponsor Q-Deals and Giant PCs, among other innovations. "In 2024, Freddie Mac Multifamily showed once again how a determined, creative, and f lexible team can adapt to changing markets to meet the needs of investors and advance our mission," "The Universal Notice published today reflects the input of communities and professionals who have been through the process of recovery and makes dozens of survivor- centered improvements to accelerate recovery." —Marion McFadden, Principal Deputy Assistant Secretary for Community Planning and Development