Online Alerts

Online Alerts

Did Site Owner Make Additional Promises to Agency in Return for Credits?

September 18, 2019    

Maintaining the minimum set-aside and applicable fraction are a tax credit site manager’s two most important occupancy goals during the compliance period. But you must also be sure to find out whether the site owner made any extra promises to your state housing agency in return for its tax...

WSHFC Issues Report on Transfer Disputes in the LIHTC Program

September 18, 2019    

The Washington State Housing Finance Commission (WSHFC) recently released a report on transfer disputes, titled “Nonprofit Transfer Disputes in the Low Income Housing Tax Credit Program: An Emerging Threat to Affordable Housing.” The report discusses the recent increase in the number...

Sites Affected by California Wildfires Get Temporary Compliance Relief

September 18, 2019    

In response to the devastation caused by the 2018 California wildfire season, the IRS recently issued a notice to the state committee that administers federal and state low-income housing tax credits to extend the date of its compliance review of credits in the three affected counties to either...

Census Bureau Releases Income, Poverty, and Health Insurance Statistics

September 18, 2019    

The United States Census Bureau recently issued a set of three reports—Income and Poverty in the United States: 2018, Health Insurance Coverage in the United States: 2018, and The Supplemental Poverty Measure: 2018. The reports found that median household income held steady at $63,179...

Affordable Housing Linked to Children’s Intellectual Ability

August 14, 2019    

Johns Hopkins University researchers recently issued a policy research brief exploring the effects of affordable housing on the cognitive development, physical health, and emotional well-being of children living in poverty. Though how much a family spent on housing had no effect on a child...

FHA to Promote Greater Development in Opportunity Zones

August 14, 2019    

To stimulate greater multifamily residential and commercial development in Opportunity Zones, HUD Secretary Ben Carson recently announced the Federal Housing Administration (FHA) will insure mortgages on mixed-use development under the agency’s Section 220 program in thousands of lower...

Chicago Streamlines LIHTC Process with New QAP

August 14, 2019    

Chicago Mayor Lori Lightfoot’s administration is changing the rules for how the city allocates federal low-income housing tax credits (LIHTCs). The city recently released a new Qualification Allocation Plan (QAP), which details the application process that developers must follow to obtain...

Senators Introduce Bill to Eliminate Qualified Contracts Option

July 17, 2019    

Senators Ron Wyden (D-OR) and Todd Young (R-IN) and Representatives Joe Neguse (D-CO), Don Beyer (D-VA), and Jackie Walorski (R-IN) recently introduced the Save Affordable Housing Act of 2019. The Save Affordable Housing Act was introduced both the Senate and the House. This bill will make a...

JCHS Report Shows Slight Improvement for Cost-Burdened Renters

July 17, 2019    

Harvard University’s Joint Center for Housing Studies (JCHS) recently released its annual report, “The State of the Nation’s Housing 2019.” According to the report, 2017 measures showed small signs of improvement for cost-burdened renters. In 2017, 20.5 million renter...

Nevada Creates State Housing Tax Credit

July 17, 2019    

Nevada Governor Steve Sisolak recently signed legislation that creates a transferable state housing tax credit with an annual cap of $10 million. If officials see strong demand for the credit, they can award up to $13 million in credits in a year, but the following year’s amount would be...

Lawmakers Reintroduce LIHTC Expansion Bill

June 13, 2019    

A bipartisan group of lawmakers have introduced legislation in both houses of Congress to expand the LIHTC program. The Affordable Housing Credit Improvement Act of 2019 was introduced by U.S. Senators Maria Cantwell (D-Wash.), Johnny Isakson (R-Ga.), Ron Wyden (D-Ore.), and Todd Young (R-Ind...

FHA Offers Incentives for Owners Who Invest in Opportunity Zones

June 13, 2019    

The Federal Housing Administration (FHA) recently announced a package of incentives to encourage multifamily property owners to invest in thousands of neighborhoods located in Opportunity Zones across the nation.