Feature

Use Lease Clause When Households Violate Student Rule Mid-Lease

September 28, 2017    
At this time of year, as the academic year starts, it may be a good time to review student eligibility restrictions for the LIHTC program. You probably know that, in general, you can’t rent a low-income unit at your tax credit site to a household that’s made up of full-time students.
Income Calculations

Follow Five Dos & Don'ts When Calculating Income of Student Household Members

September 28, 2017    
If you have part-time or full-time students living at your tax credit site, it’s important to know how to calculate their income properly. However, be mindful that all student eligibility requirements are met for your LIHTC site before you consider student income in a household. In other...
Compliance

Overview of IRS' LIHTC Disaster Relief Provisions

September 28, 2017    
When the President declares a major disaster under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, LIHTC sites are afforded temporary relief from certain requirements of the LIHTC program. As a result of Hurricanes Maria, Irma, and Harvey, major disaster declarations have been...
In the News

NHPD Data Indicates Loss of Affordable Housing Units in the Next Five Years

September 28, 2017    
According to data recently released, the National Housing Preservation Database (NHPD) shows that 488,332 federally assisted apartments or rental homes will reach the end of their current subsidy contracts and affordability restrictions for low-income families in the next five years. Nearly one in...
In the News

Report Finds Strong Operating Performance Among LIHTC Sites

September 28, 2017    
According to a new report from public accounting firm CohnReznick, LIHTC sites are operating better than in any period in the program’s 31-year history. For its report, the firm requested the participation of every active housing tax credit syndicator and some of the nation’s largest...
In the News

ACTION Campaign Updates LIHTC Impact Fact Sheets

September 28, 2017    
The A Call To Invest In Our Neighborhoods (ACTION) campaign recently released updated fact sheets on the impact of the LIHTC program in each state through 2015, the latest data available. The ACTION Campaign is a coalition of over 2,000 national, state, and local organizations and businesses...
In the News

Republicans Outline Tax Reform Plan, Keep LIHTCs

September 28, 2017    
The Trump administration and GOP congressional leaders recently proposed the “Unified Tax Reform Framework,” their plan for the most sweeping overhaul of the federal tax code in more than three decades. The proposal calls for reducing the corporate tax rate to 20 percent from 35 percent...
Feature

Choose Among Four Unit Options for Site’s Model Unit

August 30, 2017    
If you’re like many tax credit managers, you might want to set aside a model unit that you can show to prospects to help “sell” your site. But before you set aside any unit at your tax credit site for this purpose, you must consider what effect your action may have on your...
Compliance

Avoid Eight Mistakes that Disqualify Low-Income Units

August 30, 2017    
To qualify your site for the tax credit program, you must lease up enough units to qualified low-income households. But those units don’t automatically stay low-income for the rest of the compliance period. As a tax credit site’s manager, you must follow rules to make sure units stay...
In the News

HUD Report Says Worst Case Housing Needs Increase

August 30, 2017    
HUD recently released its biannual Worst Case Housing Needs Report to Congress. It finds that the number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015. HUD reports that in 2015, 8.3 million...
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