In the News
July 31, 2013
On July 24, the Cleveland Plain Dealer’s Editorial Board wrote an op-ed supporting the Low-Income Housing Tax Credit (LIHTC). This op-ed was in response to Congressional efforts to reform the tax code. On June 27, Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ranking Member Orrin...
In the News
July 30, 2013
HUD recently announced a proposed rule aimed at improving fair housing practices. According to the notice, HUD is proposing the rule because it says current fair housing practices haven’t been as effective as envisioned. If implemented, the rule will refine and clarify existing requirements...
Feature
July 18, 2013
Whether you’re a long-time subscriber or a new one, you can test your knowledge—and that of your staff—on various compliance topics we’ve covered in the past year by taking the quiz in this Special Issue. The questions touch on topics ranging from income calculations and...
Private Letter Rulings
July 18, 2013
Facts: An owner of a multiple building project requested an extension of time to make the minimum set-aside election under Section 42(g)(1)(B) of the Internal Revenue Code. The owner elected on Form 8609, Low-Income Housing Credit Allocation and Certification, to begin the credit period for the...
Private Letter Rulings
July 18, 2013
Facts: An owner’s site consists of multiple buildings located at a single address. The owner inadvertently failed to make an effective election for all buildings in the project for which Forms 8609 were issued, consistent with the owner’s intent to treat these buildings as part of a...
In the News
July 18, 2013
Last year, HUD proposed a rule to modify Section 202 Supportive Housing for the Elderly Program and 811 Supportive Housing for Persons with Disabilities Program regulations. The most significant part of the proposed rule dealt with program regulations governing mixed-finance developments or those...
In the News
July 18, 2013
The Pennsylvania Housing Finance Agency (PHFA) recently has approved $19.5 million in low-income housing tax credit reservations for the development of 20 affordable housing communities in suburban and rural areas across the state. This is the second cycle of awards in Pennsylvania this year. In...
Feature
June 27, 2013
As a tax credit manager, your main goal is to make sure that the owner of your site can claim all the credits allocated to the site. To do this, you must keep your site in compliance with the tax credit law throughout the compliance period. But because the tax credit program’s requirements...
Dealing with Households
June 27, 2013
Getting departing residents to pay their final month’s rent can be difficult. Many residents think it’s fine to tell owners to apply their security deposit to their final month’s rent.
In the News
June 27, 2013
For the past few years, rural designation for Department of Agriculture (USDA) programs was determined using population data from the 2000 census. Beginning on Oct. 1 of this year, current law would require the USDA to start using the 2010 census. This means that approximately 900 communities...
