Feature
June 26, 2015
You might not realize that whether the tax credit site you manage is a single- or multi-building project site has a significant effect on what you and your staff must do to keep the site in compliance. Yet many tax credit rules and requirements apply differently to sites in which the owner groups...
Compliance
June 26, 2015
If you’re like most tax credit managers, you probably contact an outside party such as your state housing agency or a tax credit consultant to get guidance when you’re not sure how to handle certain day-to-day management issues. When you get this guidance, it’s a good idea to...
Dealing with Households
June 26, 2015
Depending on where your site is locations and the local climate, the summer months may be the optimal time to perform upgrades and renovations at your site, especially if outdoor works is involved. Contractors may be more willing to work during the summer, and there may be greater availability of...
In the News
June 26, 2015
A low-income housing tax credit’s value originally floated with interest rates, but the credit rate was temporarily fixed at 9 percent under the Housing and Economic Recovery Act (HERA), and this flat rate was again extended through Dec. 31, 2013 and 2014 under two additional legislative acts...
In the News
June 26, 2015
Recently, the J. Ronald Terwilliger Foundation for Housing America’s Families released The Silent Housing Crisis, a white paper documenting the significant housing challenges facing the country and making a call to action by the nation’s political leaders. The nonprofit organization...
In the News
June 26, 2015
Faced with a shortage of affordable rental housing in Tennessee, the Tennessee Housing Development Agency (THDA) recently issued a new study on the state’s LIHTC program. THDA manages the program in Tennessee and allocates federal tax credits to qualifying projects according to state and...
In the News
June 24, 2015
As of publication of this July 2015 issue, no decision has yet come down from the U.S. Supreme Court on Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc., the case that will decide whether it’s within the bounds of the Fair Housing Act to be able to...
Feature
May 29, 2015
Correctly determining the size of each low-income household at your site is essential because the income limits you must use to check household eligibility are organized by household size. If you use the wrong limits to certify a household, you’ll make mistakes that will put the owner’s...
Compliance
May 29, 2015
Federal law imposes numerous accessibility requirements that tax credit sites must follow. If your site was designed and constructed after March 13, 1991, you must make your site readily accessible to and usable by people with disabilities. Federal requirements say that all ground-floor and...
Compliance
May 29, 2015
The IRS recently released a memo, entitled “Low-Income Housing Credit—Noncompliance Resulting from Conflicting Program,” directed to examiners auditing LIHTC issues. The memo addressed whether a building could continue to qualify as low income under Section 42 of the Internal...
