Feature
July 30, 2018
It’s smart management practice to keep your household files up-to-date and complete all the time. Because LIHTC projects will be reviewed for compliance by the state and may be audited by the IRS, complete, well-organized files are very important.
Dealing with Households
July 30, 2018
Sports courts, such as basketball, volleyball, and tennis courts, are a great amenity for your site. But sports courts can also lead to problems. For example, residents may argue with each other over how much time a resident should be allotted on a court, or residents can injure themselves if...
In the News
July 30, 2018
U.S. Senator Maria Cantwell (D-WA), U.S. Senator Todd Young (R-IN), and a bipartisan group of their Senate colleagues recently introduced the Task Force on the Impact of the Affordable Housing Crisis Act, which seeks to better understand and respond to America’s housing crisis by creating a...
In the News
July 30, 2018
The LIHTC would be increased and its allocation formula adjusted under a bill recently introduced in the U.S. House of Representatives. H.R. 6542, the Restoring Tax Credits for Affordable Housing Act, introduced by Representative James E. Clyburn (D-SC) would increase credit amounts and percentages...
In the News
July 30, 2018
The A Call To Invest in Our Neighborhoods (ACTION) Campaign is a national, grassroots coalition of over 2,200 national, state, and local organizations and businesses calling on Congress to protect, expand, and strengthen the LIHTC program. The ACTION Campaign was established in 2009 by a broad...
Feature
July 11, 2018
When someone agrees to rent or lease an apartment, he signs a lease or rental agreement outlining the terms of the agreement. It’s a legally binding contract between the tenant and the owner that details the rights and responsibilities of each party. Unlike a typical market-rate apartment, a...
In the News
July 11, 2018
HUD recently released an advance notice of proposed rulemaking in the Federal Register. It seeks public comment on possible amendments to HUD’s 2013 final rule implementing the Fair Housing Act’s disparate impact standard. The amendments would help ensure the rule is consistent with the...
In the News
July 11, 2018
Unstable housing will cost the United States $111 billion in avoidable healthcare costs and education expenditures over the next 10 years, according to research from Children’s Healthwatch, one of the nation’s leading networks of pediatricians, public health researchers, and children...
Feature
June 28, 2018
The Consolidated Appropriations Act of 2018 established income averaging as a third minimum set-aside election, and this option happens to be one of the most significant changes to the LIHTC program in recent years. Every tax credit site must meet and maintain a minimum set-aside throughout the 15-...
Dealing with the IRS
June 28, 2018
Regardless of how well you run your tax credit site, your state housing agency may cite you for noncompliance with the tax credit law. If that happens, your state housing agency must notify your site’s owner of the violation and report it to the IRS using IRS Form 8823 (Low-Income Housing...
