Tax Credit Housing Management Insider

Feature

The Impact of Opportunity Zones on Tax Credit Housing Development

May 16, 2019    
The federal Opportunity Zone program has generated a lot of excitement among investors and the real estate industry since it was created as part of the 2017 Tax Cuts and Jobs Act. The Opportunity Zone program seeks to be a catalyst for development in the neediest communities.
In the News

IRS Releases Second Set of Opportunity Zones Guidance

May 16, 2019    
In October 2018, the IRS published the first set of proposed regulations providing much of the direction taxpayers had been seeking. And while those regulations represented a step forward in understanding how to implement an Opportunity Zone project, many questions remained. Recently, the IRS...
In the News

White House Opportunity and Revitalization Council Publishes Implementation Plan

May 16, 2019    
President Trump established the Opportunity and Revitalization Council in December 2018 to target, streamline, and coordinate federal resources to be used in Opportunity Zone (OZs) and other economically distressed communities. The interagency Council is chaired by HUD Secretary Ben Carson. 
In the News

HUD Discloses Its Activities in Opportunity Zones, Requests Public Input

May 16, 2019    
HUD recently released a document that provides a snapshot of HUD’s programs and initiatives within Opportunity Zones (OZs) and requested input and recommendations on how HUD can incorporate OZs into existing policies, practices, planned actions, regulations, and guidance. According to HUD:
In the News

Senators Introduce Bipartisan Bill to Require Reporting on OZ Investments

May 16, 2019    
U.S. Senators Cory Booker (D-NJ), Tim Scott (R-SC), Maggie Hassan (D-NH), and Todd Young (R-IN) have introduced S.1344, a bipartisan bill to restore reporting requirements for Opportunity Zones. Specifically, the bill would require the Treasury Department to collect data on the number of...
Feature

How to Tell Troublemaking Households You're Not Renewing

April 26, 2019    
As an owner or manager, you do your best to hold on to most households, especially because qualified tax credit households can be hard to find. But there may be times when, in order to comply with the tax credit program, you may have to ask certain tax credit households to leave. For instance, you...
Dealing with Employees

Add Nine Key Protections to Your Employee Lease Addendum

April 26, 2019    
The tax credit law doesn’t bar you from renting to employees. In fact, many sites have on-site employees—from property managers to security officers to maintenance workers—who reside at the LIHTC site and are essential to the success of the property. Having someone employed by the...
In the News

LIHTC Pilot Program Expands to Sections 221(d)4, 220 Sites

April 26, 2019    
HUD launched its LIHTC pilot program in 2012 to streamline processing of Section 223(f) LIHTC transactions with repairs up to $40,000 per unit. As a result of the pilot program, 34 percent of HUD’s 912 loans insured in 2018 were LIHTC transactions. And of the 148,726 units insured last year,...
In the News

White House and HUD Publish Opportunity Zone Implementation Plan

April 26, 2019    
The White House Opportunity and Revitalization Council, chaired by HUD Secretary Ben Carson, recently published its Implementation Plan. It details how the council will accomplish the goals specified in Executive Order 13583 of Dec. 12, 2018. The Implementation Plan explains the various...
In the News

NHC Releases 2018 Paycheck to Paycheck Report and Database

April 26, 2019    
The National Housing Conference (NHC) recently released its 2018 Paycheck to Paycheck report and database highlighting housing affordability challenges for workers in 81 occupations living in 259 metropolitan areas in the United States. The annual report focuses on the affordability challenges of...