Tax Credit Housing Management Insider

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.
Feature

Share Safety Tips Regarding CO Poisoning with Site Residents

January 30, 2019    
Along with the colder weather comes the risk of carbon monoxide (CO) poisoning. CO is a colorless, odorless gas that’s the second most common cause of non-medicinal poisoning death. According to the Centers for Disease Prevention and Control (CDC), over 10,000 people are poisoned by CO and...
Dealing with Households

Facilitate Eviction Process by Giving Attorney Relevant Documents, Information

January 30, 2019    
When you hire an attorney to evict a resident from your tax credit site for violating the lease, you want to have the eviction handled as quickly and efficiently as possible. But the process may be unnecessarily hindered if you don’t give the attorney all the documents and information she...
Income Calculations

How to Handle Rental Property When Calculating Household Income

January 30, 2019    
Determining annual income is an important step in determining an applicant’s eligibility for the LIHTC program. To become income eligible, an applicant’s household gross annual income must be equal to or less than the income limit applicable to your site.
In the News

Natural Disaster Events Exceed $1B in Damage in 2018

January 30, 2019    
CoreLogic, a financial services company providing financial and property information analytics, recently released its 2018 Natural Hazard report. The report examines the impact of last year’s natural disasters on residential and commercial real estate. According to the National Oceanic and...
In the News

Final IRS Opportunity Zone Regs Eagerly Awaited

January 30, 2019    
Since the government has been reopened temporarily, developers and property owners have been anticipating IRS guidance on the new Qualified Opportunity Zone (QOZ) provisions included in the Tax Cuts and Jobs Act. The QOZ incentive provision allows taxpayers who recognize a gain from the sale of an...