NCSHA Reports Scramble to Fill Funding Gaps for LIHTC Developments

September 30, 2022    

A recent report released by the National Council of State Housing Agencies (NCSHA) highlights the actions state housing finance agencies are going through in this period of increased labor, materials, and financing costs to ensure pending LIHTC projects can proceed as planned. The report is...

How Inflation Reduction Act Targets Energy Efficiency in Affordable Housing

August 30, 2022    

On Aug. 16, President Biden signed into law the new Inflation Reduction Act (IRA), which includes significant investments to address climate change in affordable housing. The law provides billions of dollars in funding through direct spending and tax credits that can be used to preserve...

White House Hosts Summit on Eviction Prevention

August 30, 2022    

In early August, the White House hosted a virtual summit on “Building Lasting Eviction Prevention Reform.” As funds for Emergency Rental Assistance (ERA) are beginning to wind down, the meeting focused on the need for an all-out effort to build lasting eviction prevention reform.

Paying for Reasonable Modifications

July 28, 2022    

Q We manage a tax credit site that gets funding through the HOME program. A resident with disabilities recently asked us to install a ramp at the entrance to our site's community room so that he can access it using his wheelchair. We want...

Setting Occupancy Standards

July 28, 2022    

Q My company has managed federally assisted sites and will soon start managing tax credit sites. Are there any special laws or guidelines we must follow when setting occupancy standards for our tax credit sites?

Report: State Finance Agencies Address Climate Resiliency

July 28, 2022    

More than half of all states have measures aimed at protecting LIHTC sites from natural disasters, according to a new report from Freddie Mac. The research is part of Freddie Mac’s Duty to Serve plan, a regulatory mandate from the federal Housing Finance Agency to provide leadership and...

Treasury to Allow COVID Funds for State, Local Affordable Housing Loans

July 28, 2022    

The U.S. Department of Treasury recently announced that it will allow state, local, and tribal governments more flexibility to use COVID-19 rescue funds to boost the supply of affordable housing, including permission to issue direct long-term project loans. The issued guidance permits State and...

How to Treat Employer Contributions to ABLE Accounts

June 20, 2022    

Q An applicant has an ABLE account. He’s able to provide proof that it’s an ABLE account and document its balance. Both the applicant and his employer put money into the account. ABLE accounts aren’t mentioned in the HUD...

Clarification on State or Local Fair Housing Law and IRS Violations

June 20, 2022    

Q The last issue of the Insider seemed to indicate that a violation of state or local fair housing law may result in noncompliance reported with IRS Form 8823 (see “...

Judge Rules LIHTC Program's Right of First Refusal Is Unique

May 27, 2022    

Nonprofit sponsor wins in LIHTC right of first refusal case.


Bipartisan Bill Seeks to Unlock American Rescue Plan Funds for Stalled LIHTC Developments

April 28, 2022    

Reps. Alma Adams (D-N.C.) and David Rouzer (R-N.C.) recently announced the LIHTC Financing Enabling Long-Term Investment in Neighborhood Excellence Act or LIFELINE Act. This legislation would make American Rescue Plan funds more compatible for LIHTC housing developments.

Rounding Up When Calculating Rents

March 31, 2022    

Q We calculated the maximum allowable rent for our low-income units. Since we’d like all our rents to be whole numbers, can we round the rents up to the nearest whole number?