The state of Maine is giving developers who apply for tax credits incentives to build smoke-free housing projects. The incentives are provided in accordance with the state's qualified allocation plan (QAP) for fiscal year 2008–09.
As of Dec. 18, 2007, HUD ceased prohibiting project-based voucher rents from exceeding tax credit rents. According to housing groups such as the National Leased Housing Association (NLHA), the old voucher rule, which went into effect in October 2005, was flawed; it required a change in the...
In 2007, HUD's Office of Fair Housing and Equal Opportunity (FHEO), the division devoted to anti-discrimination and Fair Housing concerns, investigated approximately 10,300 cases involving claims of discrimination, according to Kim Kendrick, assistant secretary for FHEO. Based on a pattern...
The manager of a Texas tax credit site reported that a cunning criminal got into the management office by pretending to be a rental applicant. The criminal asked to tour a vacant unit. A female member of the leasing staff, who was on duty alone in the office at the time, had a bad feeling about...
The IRS is considering an amendment to the Internal Revenue Code (IRC) Section 42 to provide a method for establishing the value of a tax credit site when the owner wants to sell at the close of the 15-year compliance period. With the help of tax credit expert A.J. Johnson, we will explain the...
This month, the manager of an affordable housing site in Texas reported how—as many managers have done—she had brought Internet access into the management office to help run the site and communicate with HUD, prospects, applicants, and residents. She expected site employees to spend...
QI'm developing an affordable housing site, and I've just received an allocation of tax credits. I'm wondering if there's anything I can do to qualify for more tax credits down the road?
Your tax credit site may offer a parking lot or other parking facility where your residents can keep their cars. If you, as a site owner or manager, want to charge residents a parking fee, you must proceed carefully, cautions tax credit consultant Karen A. Graham. Although the tax credit program...
