During the month of February 2023, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for three training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. All three sessions will be presented via live webinar. The following sessions will be presented:
February 8: The Average Income Minimum Set-Aside – Compliance and Best Practices – This live 1.5-hour webinar will cover the IRS Final Regulation on the LIHTC Average Income Set-Aside. It will be presented by affordable housing expert A. J. Johnson and will provide a detailed discussion of the new regulation. Discussion points will include (1) the minimum set-aside vs. the Average-test; (2) the elimination of the “cliff” test; (3) the Available Unit Rule; (4) the timing of unit designations and changing designations; and (5) Average Income and the Applicable Fraction. There will also be plenty of opportunities for Q&A.
February 9: The Basics of Low-Income Housing Tax Credit Management – This training is designed primarily for site managers and investment asset managers responsible for site-related asset management and is especially beneficial to those managers who are relatively inexperienced in the tax credit program. It covers all aspects of credit related to on-site management, including the applicant interview process, the determination of resident eligibility (income and student issues), handling recertification, setting rents – including a full review of utility allowance requirements – lease issues, and the importance of maintaining the property. The training includes problems and questions designed to ensure that students are fully comprehending the material.
February 28: The Verification & Calculation of Income & Assets on Affordable Housing Properties – This five-hour course (there will be a one-hour lunch break) provides concentrated instruction on the required methodology for calculating and verifying income, and for determining the value of assets and income generated by those assets. The first section of the course involves a comprehensive discussion of employment income, along with military pay, pensions/social security, self-employment income, and child support. It concludes with workshop problems designed to test what the student has learned during the discussion phase of the training and serve to reinforce HUD-required techniques for the determination of income. The second component of the training focuses on a detailed discussion of requirements related to the determination of asset value and income and is applicable to all federal housing programs, including the low-income housing tax credit, tax-exempt bonds, Section 8, Section 515, HOME, and HOPE VI. Multiple types of assets are covered, both in terms of what constitutes an asset and how must they be verified. This section also concludes with a series of problems, designed to test the student’s understanding of the basic requirements relative to assets.
These sessions are part of the year-long collaboration between A. J. Johnson and MidAtlantic AHMA that is designed to provide affordable housing professionals with the knowledge needed to effectively manage the complex requirements of the various agencies overseeing these programs.
Persons interested in any (or all) of these training sessions may register by visiting either www.ajjcs.net or https://www.mid-atlanticahma.org.