Maintenance
May 31, 2016
As a tax credit owner or manager, you must stay on top of your site’s painting needs. The tax credit law requires sites to be suitable for occupancy and free from health, safety, and building code violations. If your state utilizes HUD’s uniform physical condition standards for your...
In the News
May 31, 2016
A recent ruling by Massachusetts’ highest state court relied on an analysis of the June 2015 U.S. Supreme Court decision in Texas Department of Housing & Community Affairs v. The Inclusive Communities Project, Inc. (ICP). In that case, the U.S. Supreme Court held that a state’s...
In the News
May 31, 2016
On May 19, Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced legislation entitled The Affordable Housing Credit Improvement Act of 2016. The proposed bill would expand the LIHTC program to help create or preserve approximately 1.3 million affordable...
In the News
May 31, 2016
On May 18, 2016, President Obama and Labor Secretary Perez announced that the Department of Labor’s final rule will automatically extend overtime pay eligibility to 4.2 million workers. The rule will entitle most salaried white collar workers earning less than $913 a week ($47,476 a year) to...
Feature
April 27, 2016
With certain exceptions, households made up entirely of full-time students aren’t eligible to occupy low-income units at a tax credit site. So when you screen applicants, it’s essential to ask them questions to determine whether you can rent to them without violating this rule, known as...
Compliance
April 27, 2016
HUD’s Office of General Counsel (OGC) recently issued guidance addressing how refusing to rent or renew a lease based on an individual’s criminal history could violate the Fair Housing Act (FHA). Last year, in Texas Department of Housing and Community Affairs v. Inclusive Communities...
Dealing with Households
April 27, 2016
Like most tax credit sites, you probably include some residency requirements in your leases and some in your site or community rules. But if you include a requirement in the wrong place, you could create confusion and face enforcement problems, liability, and loss of revenue, says Ohio attorney...
In the News
April 27, 2016
On March 25, HUD released the second annual report on residents of units financed by the low-income housing tax credit (LIHTC). Congress mandated the collection and publication of this data when it passed the Housing and Economic Recovery Act (HERA) of 2008. The report provides information about...
In the News
April 27, 2016
Senator Charles Schumer (D-NY) recently joined Senator Maria Cantwell (D-WA) at a rally calling for an expansion of the Low-Income Housing Tax Credit to address our nation’s shortage of affordable housing. The event followed Senator Cantwell’s announcement last month of her intention to...
In the News
April 27, 2016
The National Low Income Housing Coalition (NLIHC) recently released its 2016 report focusing on the gap between the number of extremely low-income (ELI) households and the number of affordable housing units available to them. ELI households are those with incomes at 30 percent of area median income...
