Tax Credit Housing Management Insider

Feature

3 Household Changes to Watch for at Annual Recertifications

September 30, 2021    
If you manage a mixed-income site, you’re probably gearing up to kickstart annual recertifications as a result of the expiration of IRS Notice 2021-12. This notice temporarily postponed the income recertification requirement for owners until Sept. 30.
Q & A

Compliance on Building or Site Basis

September 30, 2021    
Q My company manages a tax credit site with three buildings. Must we always apply the tax credit program’s requirements separately to each building, rather than to the site as a whole? A No. In many cases, you apply the tax credit program’s requirements separately to each building. But...
Q & A

Use of HUD Handbook for Calculating Household Income

September 30, 2021    
Q My company has used Section 4350.3 of the HUD Handbook to calculate household income at the Section 8 sites we manage. We’re about to start managing our first tax credit sites. Should we also use the Handbook to calculate household income at these sites?
Dealing with Households

Treasury Adds 7 Policies to Expedite ERA Distribution

September 30, 2021    
The Treasury Department recently released updated Emergency Rental Assistance (ERA) spending data through Aug. 31. So far, state and local programs have made over 1.4 million Emergency Rental Assistance payments to households and distributed $7.7 billion since January.
In the News

Court Affirms Nonprofit's Ownership of LIHTC Site

September 30, 2021    
As property values have increased, there’s been more litigation about what a below-market right of first refusal means.   On Sept. 15, the Third District Court of Appeals for the State of Florida affirmed a Florida nonprofit’s ownership of an LIHTC site. Specifically, the court...
Feature

How to Prepare for the Expiration of Temporary COVID-19 Compliance Relief

August 31, 2021    
Pre-pandemic rules go back into effect Oct. 1.   In January, the IRS issued Notice 2021-12, which temporarily postponed a number of compliance deadlines for LIHTC sites. The extension deadline is coming up and owners and managers need to be mindful of how this will affect site operations as...
Dealing with Employees

What to Know Before Setting a Vaccine Mandate for Site Employees

August 31, 2021    
While available vaccines have proven effective in controlling COVID-19 and its variants to date, the virus continues to spread particularly among unvaccinated populations. Officials have been trying different approaches to increase vaccination rates from incentive programs to educational outreach.
Dealing with Households

Supreme Court Strikes Down CDC's Residential Eviction Moratorium

August 31, 2021    
On Aug. 3, the Centers for Disease Control and Prevention (CDC) issued a limited eviction moratorium covering renters living in communities experiencing a substantial or high level of COVID-19 transmission. And on Aug. 26, the Supreme Court rejected the moratorium in a challenge brought by a...
Feature

How the Neighborhood Homes Investment Act Compares with the LIHTC Program

July 29, 2021    
Earlier this year, President Biden made headlines as he introduced a $2 trillion infrastructure plan, titled “The American Jobs Plan,” to rebuild America’s infrastructure and revitalize the economy. With the federal moratorium on housing eviction ending in July, the majorities in...
Dealing with Households

Eviction Prevention Efforts Ramp Up, Treasury Updates ERA FAQs

July 29, 2021    
On July 21, the White House hosted a virtual meeting to help cities quickly deliver emergency rental assistance and develop plans to prevent evictions. Since December, Congress has provided to Treasury $46 billion for the Emergency Rental Assistance (ERA) program.
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