HUD recently revised its regulation regarding the provision of Social Security numbers (SSN) at many HUD-assisted properties, including project-based Section 8 properties.
The regulation now requires that applicants for assistance disclose and provide verification of the complete and accurate SSN provided to them. The regulation excludes tenants age 62 and over as of January 31,...
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HUD Rule Regarding Social Security Numbers
National Nonmetropolitan Income Limits
The Housing & Economic Recovery Act of 2008 (“HERA”) provided that the measurement of area median gross income applied for residential rental property located in certain rural areas was modified for projects subject to the low-income housing credit volume limits. In the case of...
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2010 Income Limits
HUD released the 2010 income limits on May 14, 2010, one of the latest release dates in years. HUD also released a Notice ending the “hold harmless” policy for Section 8 properties.
Included in the income limits is the HUD calculated limits for LIHTC...
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Text of HR 4213: “American Workers, State, and Business Relief Act of 2010″
Here is the text of HR 4213, also known as the “American Workers, State, and Business Relief Act of 2010″:
Document (pdf)
For more information about this bill, please visit OpenCongress.org.
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HUD Study of LIHTC Program Open To Comments
HUD has issued a notice of proposed information collection for public comment via the Federal Register. The goal of the study is to gather information from LIHTC property...
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HUD Releases 2010 Income Limits
HUD has released the 2010 income limits. The income limits, as well as documentation is available in the links below.
FY2010 Income Limits(pdf)
State Income Limits(pdf)
Area Definitions(pdf)
Income Limits Briefing Material(pdf)
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The Job Creation & Affordable Housing Act
On May 7th, Senator Maria Cantwell (D-WA) introduced legislation to jump start private investment in the LIHTC program, which has been hit hard by the recent recession. A...
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Developer Fees & Eligible Basis
The IRS has identified an issue relating to developer fees in their 2009 audits that is resulting in a reduction in eligible basis for a number of properties. Developer...
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No Imminent Change to HUD Income Definition
In the Federal Register dated October 15, 2009, HUD published a proposed rule deferring changes to the definition of annual income and noncitizen regulations. Originally, the definition of income...
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Federally Required Signage for Apartment Properties
Federal law requires employers – including apartment owners and managers – to post signs explaining legal information to their employees. Failure to post the signs can cost up to...
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Change 3 To HUD Handbook 4350.3
Change 3 to HUD Handbook 4350.3 was issued on June 23, 2009, and the changes will take effect on August 1, 2009. The major changes to the LIHTC program...
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Surety Bonds
A surety bond, instead of a security deposit, attracts and retains renters while protecting owners from bad debt.
SureDeposit is a major...
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