Tax Credit Housing Management Insider

Feature

Accounting for 2020 Minimum Wage Hikes When Calculating Household Income

January 9, 2020    
The minimum wage in more than 20 states and 26 cities and counties across America increased on Jan. 1, according to the National Employment Law Project (NELP). This affects more than half of the country’s population and marks the greatest jurisdictional raise in U.S. history. Of the states...
Q & A

Temporarily Displacing Residents

January 9, 2020    
Q We need to repaint some of the low-income units at our tax credit site. To accomplish this, we must temporarily displace residents—that is, have residents move out of their units—for a few days. Will the owner of our site stay entitled to claim credits for these units while their...
Q & A

Counting Rent Paid by Guarantors as Income

January 9, 2020    
Q My management company will let a qualified applicant with no credit history sign a lease if she can find a guarantor. One applicant told us that if we rent a low-income unit to him, his guarantor will pay the rent for two months. If we accept the applicant, should we count these rent payments as...
Q & A

Unreported Marriage with No Household Change

January 9, 2020    
Q Our site is a project-based Section 8 site with LIHTC units. We recently found out that one of our residents who has lived at the site since 2007 got married in 2014 and never reported it. We know her husband doesn’t live in the unit because he’s a registered sex offender and he isn...
In the News

Appeals Court Dismisses Discrimination Case Against Treasury and OCC

January 9, 2020    
The Fifth Circuit Court of Appeals recently dismissed a discrimination lawsuit against the U.S. Department of Treasury and the Office of Comptroller of the Currency (OCC). This long-running lawsuit was brought by the Inclusive Communities Project (ICP), the same organization that pursued a similar...
In the News

FDIC, OCC Propose to Modernize Community Reinvestment Act Regs

January 9, 2020    
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) recently announced proposed regulations that may affect LIHTC investments. The proposed regulations are intended to modernize the agencies’ regulations under the Community Reinvestment Act...
Feature

Follow Six Dos & Don’ts When Dealing with Section 8 Applicants and Residents

December 23, 2019    
The Section 8 Housing Choice Voucher program is the federal government’s major program for helping very low-income families, the elderly, and the disabled afford decent, safe, and sanitary housing in the private market. Since housing assistance is provided on behalf of the family or...
Dealing with Households

Take Five Steps to Curb Behavior of Abusive Residents

December 23, 2019    
Have you ever had a resident complain to you about another resident’s harassing or abusive behavior? Maybe the other resident is loudly insulting him or, worse, using racial epithets. You might be tempted to ignore the problem. But your decision could be costly. The resident who’s the...
In the News

AHCIA Provisions Absent from Year-End Tax Bill

December 23, 2019    
The fiscal year (FY) 2020 appropriations bills recently passed through Congress and was signed by President Trump before the Dec. 20 deadline, averting a government shutdown like the one experienced with the FY 2019 spending bills. The FY 2020 measures include appropriations for Transportation-HUD...
In the News

IRS Issues Final Regs on Opportunity Zones

December 23, 2019    
Nearly two years after the Opportunity Zone initiative was enacted into law as part of the 2017 Tax Cuts & Jobs Act, the Treasury Department and the IRS has issued final regulations on Qualified Opportunity Funds. The final regulations are a modification and merger of the first and second...