Feature

Choose Among Four Unit Options for Site’s Model Unit

August 30, 2017    
If you’re like many tax credit managers, you might want to set aside a model unit that you can show to prospects to help “sell” your site. But before you set aside any unit at your tax credit site for this purpose, you must consider what effect your action may have on your...
Compliance

Avoid Eight Mistakes that Disqualify Low-Income Units

August 30, 2017    
To qualify your site for the tax credit program, you must lease up enough units to qualified low-income households. But those units don’t automatically stay low-income for the rest of the compliance period. As a tax credit site’s manager, you must follow rules to make sure units stay...
In the News

HUD Report Says Worst Case Housing Needs Increase

August 30, 2017    
HUD recently released its biannual Worst Case Housing Needs Report to Congress. It finds that the number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015. HUD reports that in 2015, 8.3 million...
In the News

GAO Director Testifies and Updates Status of LIHTC Report Recommendations

August 30, 2017    
The Senate Finance Committee recently held a hearing on “America’s Affordable Housing Crisis: Challenges and Solutions.” The hearing demonstrated bipartisan support for affordable housing. It emphasized the importance of the LIHTC as an affordable rental housing tool, and S. 548,...
In the News

Federal District Court Rules Disparate Impact Lawsuit Against Insurer May Proceed

August 30, 2017    
The United States District Court for the District of Columbia recently issued an opinion finding that the National Fair Housing Alliance (NFHA) has standing to bring a discrimination claim against Travelers Indemnity Corporation and Travelers Casualty Insurance Company of America (Travelers). In a...
In the News

Separate Op-Eds Emphasize LIHTC Benefits, Urge Support for Affordable Housing Legislation

August 30, 2017    
In an op-ed recently published by The Philadelphia Inquirer, Phyllis Chamberlain, the executive director of the Housing Alliance of Pennsylvania, wrote about the impact of the LIHTC program nationally and in Pennsylvania. According to Chamberlain, each year, the Pennsylvania Housing Finance Agency...
Feature

Follow Seven Tips When Recertifying Households at Mixed-Income Sites

July 31, 2017    
Generally speaking, if you manage a mixed-income site, you and your staff must recertify all low-income households at the site each year. Failing to meet recertification requirements is a leading cause of noncompliance that can cost the owner its tax credits. But recertification can be a time-...
Income Calculations

Four Tips for Estimating Freelance Income Correctly

July 31, 2017    
With the rise of gig economy companies such as Uber, Lyft, and Instacart, you may have noticed more applicants earning money from these companies as independent freelancing contractors. When you’re calculating household income, a “freelancer” presents special challenges....
In the News

Assistant Secretary for Tax Policy Nominee Discusses LIHTC Program During Confirmation Hearing

July 31, 2017    
On July 18, the Senate Finance Committee held a hearing to consider the nomination of David J. Kautter as Assistant Secretary for Tax Policy of the Treasury Department. Senator Maria Cantwell (D-WA), who introduced The Affordable Housing Credit Improvement Act to expand and strengthen the LIHTC,...
In the News

Research Finds More U.S. Households Are Renting than at Any Point in 50 Years

July 31, 2017    
According to a Pew Research Center analysis of Census Bureau housing data, more households are headed by renters than at any point since at least 1965. The total number of households in the United States grew by 7.6 million between 2006 and 2016. But over the same period, the number of households...