Tax Credit Housing Management Insider

Feature

How to Handle Disability-Related Requests for Parking Accommodations

March 28, 2019    
It’s important for a tax credit site manager to be aware of fair housing laws. In addition to legal troubles, violating fair housing laws can jeopardize an owner’s low-income housing credits. The Department of Housing and Urban Development (HUD) enforces the Fair Housing Act (FHA) and...
Dealing with State Housing Agency

IRS Issues Final Rule on Physical Inspections and Compliance Monitoring

March 28, 2019    
On Feb. 26, the IRS issued final regulations for LIHTC compliance monitoring. The regulations replace the temporary compliance monitoring regulations under which state housing agencies have been operating since 2016. The new regulations make several changes to compliance monitoring requirements,...
In the News

Affordable Housing Shortage Persists for Extremely Low-Income Households

March 28, 2019    
The National Low Income Housing Coalition recently released its annual report, The Gap: A Shortage of Affordable Homes. Its analysis found that there are only 37 affordable and available rental homes for every 100 extremely low-income renter households nationwide. These renter households also are...
In the News

Senators Ask IRS to Let Veteran Housing Get Tax-Exempt Bonds

March 28, 2019    
Six senators recently sent a letter to IRS Commissioner Charles Rettig requesting that he issue a notice clarifying that affordable housing projects for veterans that comply with the LIHTC General Public Use criteria are also eligible for Private Activity Bonds (PABs).
In the News

IRS Releases Population Figures for Calculating 2019 LIHTCs, PABs

March 28, 2019    
The IRS recently released 2019 population figures indicating that the 2019 LIHTC ceiling and tax-exempt private activity bond (PAB) cap for all states will increase. From 2018–2019, the U.S. population increased by 1,448,256 people to 327,167,434 in total, representing a 0.4 percent gain. U.S...
Feature

How to Document Reason for Third-Party Income Verification’s Absence

February 28, 2019    
When certifying and recertifying households, you must first try to verify the items you include in household income with third-party sources. For example, you must ask a resident’s employer to verify her employment income. But third-party sources don’t always cooperate with you by...
Dealing with Employees

Set Up Sexual Harassment Complaint Procedure to Safeguard Site Against Liability

February 28, 2019    
Last year, HUD and the Department of Justice (DOJ) announced an interagency task force to combat sexual harassment in housing. This joint outreach followed a DOJ pilot program started in October 2017. The initiative sought to increase the Department’s efforts to protect women from harassment...
In the News

HUD Expands LIHTC Pilot to New Construction and Substantial Rehab Projects

February 28, 2019    
HUD’s Office of Multifamily Housing Programs recently published a Housing Notice and related Mortgagee Letter that expands the use of an LIHTC pilot program into New Construction and Substantial Rehabilitation loan products under Sections 221(d)(4) and 220.
In the News

Missouri Senate Gives Initial Approval to Restore State LIHTC

February 28, 2019    
More than a year after the Missouri Housing Development Commission voted to freeze the state’s LIHTC program, the Missouri State Senate recently signaled initial approval to bring it back with a few changes. Senate Bill 28 would set the state’s cap on spending to a 72.5 percent match of...
In the News

Democratic Presidential Candidates Introduce Affordable Housing Proposals

February 28, 2019    
Several 2020 presidential candidates have introduced housing proposals. Three of the top Democratic contenders in 2020, Senators Kamala Harris, Cory Booker, and Elizabeth Warren, have already introduced major proposals in the Senate that would reshape affordable housing in America.