Feature

What to Include in a Good Management Report for LIHTC Sites

July 28, 2022    
One of the most important jobs for the manager of a tax credit site is keeping the owner informed of how well you’re managing the site. The owner wants to know on a monthly or quarterly basis how well the site is doing financially and to be assured that there are no compliance problems...
Maintenance

4 Tips for Avoiding the High Cost of Emergency Repairs

July 28, 2022    
You can keep emergency repair costs to a minimum by reducing the number of these repairs your site needs, and by planning ahead to keep their costs and the damage they cause under control. Here are four tips that will help you avoid having to make emergency repairs and control the costs of those...
Q & A

Paying for Reasonable Modifications

July 28, 2022    
Q We manage a tax credit site that gets funding through the HOME program. A resident with disabilities recently asked us to install a ramp at the entrance to our site's community room so that he can access it using his wheelchair. We want the resident to pay for the ramp, but he's insisting...
Q & A

Setting Occupancy Standards

July 28, 2022    
Q My company has managed federally assisted sites and will soon start managing tax credit sites. Are there any special laws or guidelines we must follow when setting occupancy standards for our tax credit sites?
In the News

Report: State Finance Agencies Address Climate Resiliency

July 28, 2022    
More than half of all states have measures aimed at protecting LIHTC sites from natural disasters, according to a new report from Freddie Mac. The research is part of Freddie Mac’s Duty to Serve plan, a regulatory mandate from the federal Housing Finance Agency to provide leadership and...
In the News

Treasury to Allow COVID Funds for State, Local Affordable Housing Loans

July 28, 2022    
The U.S. Department of Treasury recently announced that it will allow state, local, and tribal governments more flexibility to use COVID-19 rescue funds to boost the supply of affordable housing, including permission to issue direct long-term project loans. The issued guidance permits State and...
Feature

Give LIHTC Program FAQ Sheet to Site Visitors and Applicants

June 20, 2022    
Tax credit site managers often find themselves spending much time and expense processing applications for ineligible households. Hearing about a good deal, casual visitors may submit applications not realizing that they’ll be considered over-income or student households. One way to increase...
Maintenance

Take 7 Steps to Reduce Loitering at Your Tax Credit Site

June 20, 2022    
Nonresident loitering is a safety issue and a common complaint of tax credit managers—especially those in urban areas. Loiterers, who can range from skateboarding teenagers to homeless people to criminals to ex-spouses involved in domestic disputes, can create lots of problems for managers....
Income Calculations

IRS Increases Standard Mileage Rate for Remainder of 2022

June 20, 2022    
Starting on July 1, the standard mileage rate used to deduct eligible business trips in a vehicle on tax returns increases by 4 cents to 62.5 cents per mile, according to the IRS. The new rate applies to trips during the second half of 2022.
Q & A

How to Treat Employer Contributions to ABLE Accounts

June 20, 2022    
Q An applicant has an ABLE account. He’s able to provide proof that it’s an ABLE account and document its balance. Both the applicant and his employer put money into the account. ABLE accounts aren’t mentioned in the HUD Handbook. Do we count the money as an asset? And is the...