Feature

How to Calculate Correct Income for Adults and Dependents

September 25, 2019    
How you calculate the income of a low-income household member depends on whether that member is an “adult” or a “dependent,” as defined by HUD. But the difference between the two isn’t as obvious as you might think. The HUD Handbook specifically defines these terms,...
Maintenance

Five Tips for Writing Effective Emergency/Disaster Plan

September 25, 2019    
National Preparedness Month is recognized each September to promote family and community disaster and emergency planning now and throughout the year. Preparing for natural disasters can greatly reduce the risks to health and the environment. Hurricanes or floods can contaminate drinking water...
Dos & Don'ts

Check with State Monitoring Agency Before Charging Rent on Employee Unit

September 25, 2019    
If you have a manager’s unit as part of your original allocation of credits, the manager’s unit is not a considered an LIHTC unit. But it was included in eligible basis, so it’s more akin to common space.
Dos & Don'ts

Don't Consider Household Income with Live-In Aide Requests

September 25, 2019    
Approving a live-in aide, if needed by a disabled household, is an example of a reasonable accommodation. When considering a household’ request for a live-in aide to accommodate a household member’ disability, don’t be concerned that the aide’s occupancy in a low-income unit...
Dos & Don'ts

Don't Require Applicant to Be Physically Able to Keep Unit Clean

September 25, 2019    
Though you can require that an applicant’s unit be kept clean and free of health hazards, you can’t require that the applicant be physically able to keep the unit in such condition himself. It doesn’t matter whether the applicant himself is physically able to clean or maintain his...
In the News

Congressman Recommends Strategies to Address Affordable Housing Crisis

September 25, 2019    
Congressman Earl Blumenauer (D-Ore.) recently released a housing report entitled, “Locked Out: Reversing Federal Housing Failures and Unlocking Opportunity.” It calls on the federal government to “reassert its partnership to become a constructive force for equity, accessibility,...
In the News

More Legislators Indicate Support for Affordable Housing Credit Improvement Act

September 25, 2019    
During the August recess, the Affordable Housing Credit Improvement Act garnered more support and co-sponsorships from Congressional members. The Affordable Housing Credit Improvement Act of 2019 was reintroduced in June by U.S. Senators Maria Cantwell (D-Wash.), Johnny Isakson (R-Ga.), Ron Wyden (...
In the News

FHFA Expands Multifamily Lending Caps for Fannie and Freddie

September 25, 2019    
The Federal Housing Finance Agency (FHFA) recently announced that it will increase caps on the amount of multifamily loans Fannie Mae and Freddie Mac can purchase next year while also closing some loopholes. The regulatory agency will now limit the two firms to purchasing $100 billion in...
Dos & Don'ts

Count Unborn Children as Household Members

September 24, 2019    
The HUD Handbook requires you to count household members’ unborn children as part of a low-income household for occupancy and income purposes [Handbook 4350.3, par. 3-6(E)(4)(d)]. You count a pregnant household member as two people, and use the income limits for a larger household size. 
Feature

How to Improve Compliance with UPCS Physical Inspection Standards

August 29, 2019    
The IRS requires your state or local housing credit agency to perform physical inspections of sites awarded LIHTCs. The agencies want to ensure the sites are in a safe, decent, sanitary condition and in good repair. Specifically, Section 42 of the IRS code requires state housing agencies to conduct...