Feature

Follow Three Dos & Don'ts on Setting House Rules Affecting Children

March 29, 2018    
Like many tax credit managers, you may have considered setting house rules aimed specifically at children. Your motive may be concern for children’s safety around specific hazards like swimming pools. Or if you’ve been getting noise complaints from residents or have recently found...
Compliance

Three Tips on Advertising Without Violating the Fair Housing Act

March 29, 2018    
When you place ads to fill vacancies or waiting lists at your tax credit site, what those ads say or how they depict your site can greatly influence who responds. For this reason, fair housing advocacy groups pay close attention to ads for rental housing. If you say or depict the wrong thing, you...
Compliance

Spending Bill Contains Two Important LIHTC Program Changes

March 29, 2018    
On March 23, President Trump signed the Consolidated Appropriations Act, 2018 (H.R. 1625), a $1.3 trillion spending bill that funds the federal government through Sept. 30, 2018. In addition to preventing a government shutdown, this omnibus spending bill incorporated two key improvements adopted...
In the News

HUD Report Shows Continued Need and Success of LIHTC Program

March 29, 2018    
HUD recently released “Understanding Whom the LIHTC Program Serves: Data on Tenants in LIHTC Units as of December 31, 2015,” a report that analyzes LIHTC household data collected as a result of the Housing and Economic Recovery Act (HERA) passed in 2008.
In the News

Researchers Study Design Quality Considerations at LIHTC Developments

March 29, 2018    
The Harvard Joint Center for Housing Studies (JCHS) and Enterprise Community Partners recently published a paper that looks at how funding and review processes shape the design of affordable housing. The research effort did not attempt to define “design excellence,” which can be a very...
In the News

New Analysis Highlights Benefits of Rent-Restricted LIHTC Sites

March 29, 2018    
A new analysis by Freddie Mac has concluded that over the past five years, individuals living in apartments with rents restricted through the LIHTC program have saved thousands of dollars annually compared to similar, market-rate properties. Authored by Freddie Mac Multifamily’s Research and...
Feature

Understanding the 'Suitable for Occupancy' Requirement

February 28, 2018    
As an owner or manager, it’s important to keep your designated low-income units qualified as such under tax credit rules. Unless a site is deep rent skewed, a LIHTC site must have either 20 percent of the units rent-restricted and occupied by a household with income at or below 50 percent of...
Maintenance

When to Do Mold Cleanup Yourself and When to Call in the Experts

February 28, 2018    
IRS Section 42 requires that LIHTC units be maintained in a habitable condition and in a rent-ready state. One issue that repeatedly comes up in many physical inspections of LIHTC sites is the presence of mold and mildew in units. Many sites implement a preventative maintenance program to stop mold...
In the News

President Trump Nominates Tax Lawyer as Next IRS Commissioner

February 28, 2018    
President Donald Trump recently announced that he will nominate tax attorney Charles Rettig to be the next IRS chief. His five-year term would run from Nov. 13, 2017, when John Koskinen’s term expired. David Kautter, assistant secretary of the Treasury, Tax Policy, has been the acting...
In the News

IRS Releases Updated Priority Guidance Plan

February 28, 2018    
The IRS recently issued the second quarter update to its 2017-18 Priority Guidance Plan. The IRS had issued the initial 2017-2018 Priority Guidance Plan in October 2017. The plan gives an overview of the projects that the IRS intends to address in the plan year ending June 30, 2018. As in prior...
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