Feature

How to Track Applicable Fraction to Help Avoid Tax Credit Loss

August 30, 2018    
Keeping each building’s applicable fraction on target is an essential part of a tax credit manager’s job. The applicable fraction is the percentage of a building’s units rented to low-income households. It comes into play when you calculate the building’s qualified basis,...
Dos & Don'ts

Follow Three Dos & Don’ts When Talking to Prospects

August 30, 2018    
Staff members at tax credit sites can get into trouble when talking with prospects. Any false assurances, improper assumptions, or inappropriate statements could trigger noncompliance and a possible fair housing complaint or lawsuit. To avoid problems, here are three Dos & Don’ts you and...
In the News

Senator Wyden Introduces Middle-Income Housing Tax Credit

August 30, 2018    
U.S. Senator Ron Wyden (D-OR) recently introduced legislation to create a middle-income housing tax credit (MIHTC) intended to encourage the development of affordable housing for Americans with moderate incomes. The bill is modeled after the LIHTC program. The legislation aims to provide a...
In the News

Senator Cantwell Holds Roundtable Discussion on Affordable Housing

August 30, 2018    
U.S. Senator Maria Cantwell (D-WA) recently held a roundtable discussion in a Washington state county facing a housing crisis. Cantwell has been a strong advocate for the LIHTC program. This past spring, Cantwell worked with Senator Orrin Hatch (R-UT) and others to secure a 12.5 percent increase of...
In the News

Federal LIHTC Investigation Widens in Florida to Banks

August 30, 2018    
At the end of 2016, Miami developer Matthew Greer, former CEO of Carlisle Development Group, pleaded guilty to stealing $16 million from the LIHTC program and was sentenced to three years in prison. The prosecutor in the case was Assistant U.S. Attorney Michael Sherwin, who has spent a number of...
Feature

Use Checklist to Review Household Files for Completeness

July 30, 2018    
It’s smart management practice to keep your household files up-to-date and complete all the time. Because LIHTC projects will be reviewed for compliance by the state and may be audited by the IRS, complete, well-organized files are very important.
Dealing with Households

Set Sports Court Rules to Prevent Injuries, Disputes

July 30, 2018    
Sports courts, such as basketball, volleyball, and tennis courts, are a great amenity for your site. But sports courts can also lead to problems. For example, residents may argue with each other over how much time a resident should be allotted on a court, or residents can injure themselves if...
In the News

Senators Introduce Bipartisan Affordable Housing Task Force Bill

July 30, 2018    
U.S. Senator Maria Cantwell (D-WA), U.S. Senator Todd Young (R-IN), and a bipartisan group of their Senate colleagues recently introduced the Task Force on the Impact of the Affordable Housing Crisis Act, which seeks to better understand and respond to America’s housing crisis by creating a...
In the News

House Bill Would Raise, Adjust LIHTC Allocation Formulas

July 30, 2018    
The LIHTC would be increased and its allocation formula adjusted under a bill recently introduced in the U.S. House of Representatives. H.R. 6542, the Restoring Tax Credits for Affordable Housing Act, introduced by Representative James E. Clyburn (D-SC) would increase credit amounts and percentages...
In the News

ACTION Campaign Releases New LIHTC Fact Sheets

July 30, 2018    
The A Call To Invest in Our Neighborhoods (ACTION) Campaign is a national, grassroots coalition of over 2,200 national, state, and local organizations and businesses calling on Congress to protect, expand, and strengthen the LIHTC program. The ACTION Campaign was established in 2009 by a broad...