Feature

Check Leases for Eight Tax Credit Protections and Privileges

April 27, 2017    
Before you sign a lease giving a household the right to occupy one of your low-income units at a restricted rent, you’ll want to be sure that the lease and any addenda give you the authority you need to keep the site in compliance. For instance, if your site isn’t 100 percent low-income...
Compliance

Ask Five Questions to Get Key Info for Meeting Site's Minimum Set-Aside

April 27, 2017    
As a tax credit manager, meeting your site’s minimum set-aside is the most important goal. If you meet the set-aside, the owner of your site will be entitled to claim its tax credits. If you don’t meet the set-aside, your site won’t qualify for the tax credit program, which means...
In the News

HUD Releases Housing Credit Tenant Data Report

April 27, 2017    
HUD recently published “Understanding Whom the LIHTC Program Serves: Data on Tenants in LIHTC Units as of December 31, 2014.” The report provides demographic and economic data about LIHTC tenants, including race, ethnicity, family composition, age, income, use of rental assistance,...
In the News

HUD Issues 2017 Income Limits for HUD and Tax Credit Programs

April 27, 2017    
HUD recently announced the 2017 income limits for the MTSP housing programs effective April 14, 2017. This includes low-income housing tax credits and tax-exempt bond financing. HUD advises that the income limits are effective immediately for all HUD programs, whereas the IRS allows a transition...
In the News

NFHA Releases Annual Fair Housing Trends Report

April 27, 2017    
The National Fair Housing Alliance (NFHA) recently released its annual report on fair housing trends. The report, entitled “The Case for Fair Housing: 2017 Fair Housing Trends Report,” includes the most recent data on reported instances of housing discrimination across the country....
Feature

Follow Six Rules to Avoid Discriminating Based on Race, Religion, or National Origin

March 30, 2017    
A federal judge recently froze the latest iteration of President Trump’s travel ban, claiming that the new order is still essentially a Muslim ban. In the opinion, the U.S. District Judge pointed to President Trump’s own comments and those of his close advisers as evidence that his...
Compliance

Four Tips to Avoid Mistakes in Tax Credit Calculations

March 30, 2017    
A key aspect of your job as a tax credit manager is performing calculations. For instance, you must perform calculations to correctly determine whether a household is eligible to occupy a low-income unit, how much rent you can charge, and how many low-income units you need to set aside at your site...
In the News

Bill Introduced to Strengthen the Low-Income Housing Tax Credit Program

March 30, 2017    
Representative Pat Tiberi (R-OH-12) and Ways and Means Committee Ranking Member Richard Neal (D-MA-1) recently introduced the Affordable Housing Credit Improvement Act of 2017 (H.R. 1661). This is the companion legislation to S. 548, which Senator Maria Cantwell (D-WA) and Senate Finance Committee...
In the News

Report Shows How Demand for Affordable Housing Explodes as Supply Constricts

March 30, 2017    
Senator Maria Cantwell (D-WA) recently released a report entitled “Meeting the Challenges of the Growing Affordable Housing Crisis.” The report details the exploding demand for affordable housing and the dramatic decrease in affordable units. It attributes the crisis to an increased...
In the News

Report Finds Room for Improvement in Promoting Access to Opportunity for Bay Area Developments

March 30, 2017    
The Haas Institute for a Fair and Inclusive Society at UC Berkeley recently released a study that comprehensively analyzes the administration of the LIHTC program in California by examining LIHTC developments in the San Francisco Bay Area.