Tax Credit Housing Management Insider

Feature

How to Improve Compliance with UPCS Physical Inspection Standards

August 29, 2019    
The IRS requires your state or local housing credit agency to perform physical inspections of sites awarded LIHTCs. The agencies want to ensure the sites are in a safe, decent, sanitary condition and in good repair. Specifically, Section 42 of the IRS code requires state housing agencies to conduct...
Dealing with HUD

HUD Proposes Revisions to Final Disparate Impact Rule

August 29, 2019    
HUD recently released a proposed rule that would revise the 2013 disparate impact rule, which set the standard for determining when a practice with a discriminatory effect violates the Fair Housing Act. Disparate impact is a legal doctrine under the Fair Housing Act which states that a policy may...
In the News

Survey Highlights Barriers to Building Affordable Homes

August 29, 2019    
The Harvard Joint Center for Housing Studies recently published a report called “A Home Builder Perspective on Housing Affordability and Construction Innovation.” It found that both single-family and multifamily home builders identify labor and building-material costs and availability...
In the News

California Releases Proposed LIHTC Program Changes

August 29, 2019    
The California Tax Credit Allocation Committee recently released a memorandum that lists proposed changes for the state’s low-income housing tax credit program. For 2020, the $500 million in state credits will be available through the noncompetitive application process. The committee also...
Feature

Ask Nine Questions When Taking Over Tax Credit Site Management

July 24, 2019    
Taking over the management of a tax credit site in the middle of its compliance period can be tricky. That’s because the owner or former manager has important information you need to know to manage the site effectively, and you must ask the owner or former manager the right questions to make...
Compliance

IRS Issues Memo on Eligible Basis Reduction Due to Common Area Noncompliance

July 24, 2019    
The IRS Office of Chief Counsel recently issued a memorandum addressing noncompliance of common areas in LIHTC sites. The memo was issued in response to a clarification request by an IRS Program Manager for Technical Issues. The memo states that its advice may not be used or cited as precedent, but...
In the News

National League of Cities Urges Action on Housing Affordability

July 24, 2019    
The National League of Cities (NLC) Housing Task Force recently published “Homeward Bound: The Road to Affordable Housing.” The report focuses on the challenges and solutions communities are using to address the nation's growing affordable housing crisis. The report offers several...
In the News

HUD Secretary Carson Highlights SEC’s Efforts to Encourage OZ Investing

July 24, 2019    
The 2017 Tax Cuts and Jobs Act created Opportunity Zones (OZs) to stimulate long-term investments in low-income communities. As the initiative offers capital gains tax relief to those who invest in these distressed areas, the tax incentives are anticipated to spur $100 billion in private capital...
In the News

NCSHA Directory Shows OZ Target Investment Increase

July 24, 2019    
According to an analysis by the National Council of State Housing Agencies (NCSHA), the amount of capital targeted for investment in designated Opportunity Zones (OZs) has increased dramatically. NCSHA compiles a directory of OZ funding opportunities. This resource provides descriptions and contact...
In the News

JCHS Report Emphasizes Lack of Affordable Housing Production

July 24, 2019    
Harvard University’s Joint Center for Housing Studies (JCHS) recently released its annual report, “The State of the Nation’s Housing 2019.” The report examines the state of the housing market in 2018. It found that: