In October 2024, A. J. Johnson will partner with the MidAtlantic Affordable Housing Management Association for a live webinar training session for real estate professionals, especially those in the affordable multifamily housing field. The following session will be presented:
October 16: Ensuring Section 42 Compliance on December 31, Including Average Income Issues.
Experienced LIHTC managers and compliance professionals know the importance of the last day of the tax year (typically December 31). This session will focus on all the issues to be aware of as the year draws to a close, with recommendations on ensuring compliance at year-end and the ramifications of noncompliance. The discussion will center on the three primary compliance areas impacting the ability to claim credits – eligibility, affordability, and habitability. The training will stress the importance of year-round compliance relative to rent since excess rent can result in a credit loss at any point in the year. Special attention will be given to year-end issues relating to the Average Income Minimum set aside. The session will close with a review of casualty loss issues and how these events may (or may not) impact the credits.
This session is part of a year-long collaboration between A. J. Johnson and MidAtlantic AHMA 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 this session may register by visiting either www.ajjcs.net or https://www.mid-atlanticahma.org.