Feature
November 26, 2014
Like many tax credit managers, you might want to set aside a unit for a member of your leasing, management, or maintenance staff. Or you may already be renting to one or more of your employees. The tax credit law doesn’t bar you from renting to employees. In fact, you may have three options...
Compliance
November 26, 2014
You may want to keep a unit at your tax credit site available as a model to show prospects. But you should be careful about which unit you choose to set aside as your model, and what you do with that unit as occupancy changes occur.
Dealing with Households
November 26, 2014
Even in the age of Facebook and other social media, many sites still feature bulletin boards in their lobbies or common areas. Since not every resident will be tech savvy or want to go online to check the latest site news, a bulletin board can be an effective way for a site to inform households...
Income Calculations
November 26, 2014
On Oct. 31, 2014, HUD issued Housing Notice 2014-15, “Passbook Savings Rate Effective February 1, 2015 and Establishing Future Passbook Savings Rates.” The HUD passbook rate is used to impute asset income on households who have $5,000 or more in assets. Currently, the HUD passbook rate...
In the News
November 26, 2014
On Nov. 7, HUD submitted its Fiscal Year 2012-2013 Annual Report on the State of Fair Housing in America to Congress. The report includes information regarding the prevalence of different types of discrimination in housing and HUD’s actions to combat discrimination.
In the News
November 26, 2014
The Federal Housing Finance Agency (FHFA) released on Nov. 21 the final version of its strategic plan for fiscal years 2015-2019. The FHFA was established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the effective supervision, regulation, and housing mission...
Feature
November 12, 2014
By Carolyn E. Zezima, Esq.
Feature
October 30, 2014
The Low-Income Housing Tax Credit (LIHTC) program has been a significant source of new multifamily housing for more than 25 years. Since the program began, state housing agencies have financed over 2.6 million affordable units of rental housing, according to data compiled from the National Council...
Dealing with Owners
October 30, 2014
Sometimes a site owner must give back tax credits that it claimed in previous years of the credit period. To do this, owners fill out IRS Form 8611: Recapture of Low-Income Housing Credit and file it with the tax return. The IRS will then recapture part of the tax credits the owner claimed in...
Maintenance
October 30, 2014
Residents’ maintenance needs can vary greatly, from changing a hard-to-reach light bulb to fixing an overflowing toilet that’s flooding a bathroom. Some of your residents’ maintenance requests, while important, may not be emergencies. But other residents’ requests may need...
