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Citizenship Requirements and the LIHTC Program

October 30, 2019    

Q My company has just started managing our first tax credit site. Some of our applicants aren’t U.S. citizens. We’ve previously managed Section 8 sites and have had to reject applicants because they were noncitizens without proper...

Clarification on Counting Foster Children and Foster Adults as Household Members

October 30, 2019    

Q The October issue of the Insider stated that foster children are not counted when determining household eligibility. (See “...

Report: LIHTC Program Supports Nearly 40 Percent of Region’s Rental Housing

October 30, 2019    

Freddie Mac recently released a white paper highlighting the role that the LIHTC program serves in the rural Lower Mississippi Delta. The report shows that the LIHTC program supports a substantial percentage (39.2 percent) of multifamily rental housing in the region, more than three times the...

New Democrat Coalition Endorses AHCIA

October 30, 2019    

The New Democrat Coalition (NDC) is a Congressional Member Organization within the U.S. Congress made up of centrist Democrats who support an agenda that the organization describes as “moderate” and “pro-growth” and who support a balanced budget. Entering the 116th...

Indiana Tax Court Reverses Site’s Charitable Exemption Determination

October 30, 2019    

An Indiana Tax Court recently reversed an Indiana Board of Tax Review’s final determination that concluded a low-income apartment complex owner failed to prove it qualified for a charitable purposes exemption. In 2007, the owner purchased a HUD site for low-income renters in the county....

Check with State Monitoring Agency Before Charging Rent on Employee Unit

September 25, 2019    

If you have a manager’s unit as part of your original allocation of credits, the manager’s unit is not a considered an LIHTC unit. But it was included in eligible basis, so it’s more akin to common space.

Don't Consider Household Income with Live-In Aide Requests

September 25, 2019    

Approving a live-in aide, if needed by a disabled household, is an example of a reasonable accommodation. When considering a household’ request for a live-in aide to accommodate a household member’ disability, don’t be concerned that the aide’s occupancy in a low-income...

Don't Require Applicant to Be Physically Able to Keep Unit Clean

September 25, 2019    

Though you can require that an applicant’s unit be kept clean and free of health hazards, you can’t require that the applicant be physically able to keep the unit in such condition himself. It doesn’t matter whether the applicant himself is physically able to clean or maintain...

Congressman Recommends Strategies to Address Affordable Housing Crisis

September 25, 2019    

Congressman Earl Blumenauer (D-Ore.) recently released a housing report entitled, “Locked Out: Reversing Federal Housing Failures and Unlocking Opportunity.” It calls on the federal government to “reassert its partnership to become a constructive force for equity, accessibility...

More Legislators Indicate Support for Affordable Housing Credit Improvement Act

September 25, 2019    

During the August recess, the Affordable Housing Credit Improvement Act garnered more support and co-sponsorships from Congressional members. The Affordable Housing Credit Improvement Act of 2019 was reintroduced in June by U.S. Senators Maria Cantwell (D-Wash.), Johnny Isakson (R-Ga.), Ron...

FHFA Expands Multifamily Lending Caps for Fannie and Freddie

September 25, 2019    

The Federal Housing Finance Agency (FHFA) recently announced that it will increase caps on the amount of multifamily loans Fannie Mae and Freddie Mac can purchase next year while also closing some loopholes. The regulatory agency will now limit the two firms to purchasing $100 billion in...

Count Unborn Children as Household Members

September 24, 2019    

The HUD Handbook requires you to count household members’ unborn children as part of a low-income household for occupancy and income purposes [Handbook 4350.3, par. 3-6(E)(4)(d)]. You count a pregnant household member as two people, and use the income limits for a larger household size....