Departments

Departments



Compliance on Building or Site Basis

September 30, 2021    

Q My company manages a tax credit site with three buildings. Must we always apply the tax credit program’s requirements separately to each building, rather than to the site as a whole?

A...

Use of HUD Handbook for Calculating Household Income

September 30, 2021    

Q My company has used Section 4350.3 of the HUD Handbook to calculate household income at the Section 8 sites we manage. We’re about to start managing our first tax credit sites. Should we also use the Handbook to calculate household...

Court Affirms Nonprofit's Ownership of LIHTC Site

September 30, 2021    

As property values have increased, there’s been more litigation about what a below-market right of first refusal means.

 

On Sept. 15, the Third District Court of Appeals for the State of Florida affirmed a Florida nonprofit’s ownership of an LIHTC site....

OCC Will Rescind Trump-Era CRA Rule

July 29, 2021    

The Office of the Comptroller of the Currency (OCC) recently announced it will propose rescinding the Community Reinvestment Act (CRA) rule issued in May 2020. In 2020, the OCC proposed regulations intended to modernize the agencies’ regulations under the CRA, which haven’t been...

Report Finds Rents Out of Reach for Those Earning Minimum Wage

July 29, 2021    

Every year, the National Low Income Housing Coalition (NLIHC) puts out its "Out of Reach" report examining the housing wage, the hourly wage a full-time worker must earn to afford a modest, safe rental home without spending more than 30 percent of their income on housing costs. The...

Study Assesses Housing Markets Amid Post-Pandemic Recovery

June 24, 2021    

Harvard University’s Joint Center for Housing Studies recently released its annual “State of the Nation’s Housing 2021” report. You can download the report at www.jchs.harvard.edu/state-nations-housing-...

Realtors Appeal CDC Eviction Moratorium to Supreme Court

June 24, 2021    

In early June, the U.S. Court of Appeals for the District of Columbia ruled that it would continue to stay a lower court ruling seeking to overturn the CDC eviction moratorium. In the lower court ruling, a federal judge set aside the CDC's nationwide moratorium which expires on June 30, 2021...

White House Proposes LIHTC-Inspired Program to Address Racial Wealth Gap

June 24, 2021    

The Biden-Harris administration recently announced a set of proposals designed to help narrow the racial wealth gap and reinvest in distressed communities, focusing on expanding access to homeownership and small business ownership. The administration’s announcement provides new information...

Federal Judge Vacates CDC Eviction Moratorium

May 27, 2021    

On May 5, 2021, a federal judge in the District of Columbia set aside the CDC's nationwide moratorium on residential evictions, which the CDC had recently extended beyond its congressionally approved expiration date of March 31 to June 30, 2021 [Alabama Association of Realtors, et al. v. U.S...

Government Steps Up Enforcement of CDC Eviction Moratorium

April 28, 2021    

On March 29, the Centers for Disease Control and Prevention (CDC) announced an extension of the federal eviction moratorium through June 30, 2021. Before this extension, the moratorium was set to expire March 31, 2021. This recent order is the moratorium’s third extension since it was...

Report Highlights Funding Challenges for LIHTC Site Development

April 28, 2021    

On average, developers needed to layer an average of 3.5 different funding sources to finance developments built between 2000 and 2018, according to a recent report published by the Terner Center for Housing Innovation at UC Berkeley. One in four sites layered at least five (and in some cases as...

Alaska Supreme Court Rules on Owner’s Extended Use Commitment

March 26, 2021    

In a recent case from Alaska, an LIHTC site owner tried to exercise an option to be able to exit the affordability restrictions put in place by the extended use agreement. There are two ways an owner can escape extended use commitments, but the court ruled that neither applied here. In applying...