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...
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...
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...
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-...
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...
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...
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...
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...
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...
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...
A recent study sought to glean lessons from the state and local rental assistance programs launched in 2020 before the emergency rental assistance programs funded by the coronavirus relief package signed into law on Dec. 27, 2020 ramps up. The difficult task of administering these funds will...
