Posts by A. J. Johnson

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Biden Housing Plan Stresses Housing as Infrastructure

On May 26, the Biden Administration released its full plans for a surge in new housing spending as part of the American Jobs Plan. The proposal would invest $318 billion, including $105 billion in newly proposed tax credits. The goal…

Key Improvements to LIHTC Program Possible for 2021

An updated Affordable Housing Credit Improvement Act (AHCIA) has been introduced in the House and Senate with bipartisan support. The House and Senate bills are identical and are a continuation of an effort that began with the initial introduction of…

Administration Announces More Funding for ERAP

On May 7, 2021, the Biden Administration announced the allocation of an additional $21.6 billion under the American Rescue Plan for Emergency Rental Assistance – including $2.5 billion targeted to the highest need areas. The original funding for the program…

HUD Publishes Income Limits for Multiple Programs

On May 3, 2021, HUD published 2021 income limits for the Community Development Block Grant (CDBG) Program, Emergency Solutions Grants (ESG) Program, HOME, HOPWA, Housing Trust Fund (HTF), and the Neighborhood Stabilization Program (NSP).  HUD also published the 2021 rent…

HUD Confirms Income Exclusions

Unemployment Benefits & Child Tax Credit The 2021 Consolidated Appropriations Act (2021 Appropriations) and the American Rescue Plan of 2021 (ARP) amended three provisions to strengthen and extend unemployment benefits in the CARES Act and the ARP provides a monthly…

HUD Secretary Announces Increase in REAC Inspections

On April 23, 2021, HUD Secretary Marcia Fudge announced that effective June 1, 2021, HUD will substantially increase housing inspections for properties subject to REAC. Within a few days – as early as this week – HUD will formally notify…

CDC Updates FAQS on Eviction Moratorium

On April 14, 2021, the Centers for Disease Control and Prevention (CDC) updated the Frequently Asked Questions (FAQS) regarding the CDC order to temporarily halt residential evictions to assist in preventing the spread of COVID-19. The FAQs are non-binding and…

A. J. Johnson to Host Asset Webinar

A. J. Johnson will be conducting a webinar on April 29, 2021 on Dealing with Resident Assets at Affordable Housing Properties. The Webinar will be held from 1:00 PM to 3:00 PM Eastern time. This two-hour course provides a detailed…

CDC Extends Eviction Moratorium

On March 29, 2021, the Centers for Disease Control and Prevention (CDC) extended the federal eviction moratorium. The moratorium that was scheduled to expire on March 31, 2021, is now extended through June 30, 2021. As described in the order,…

HUD Publishes 2021 Income Limits

On April 1, 2021, HUD published the 2021 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 1, 2021.  The limits for the LIHTC and…

CDC Extends Residential Eviction Order

On January 29, 2021, the Centers for Disease Control and Prevention (CDC) issued an order extending the eviction moratorium to March 31, 2021. The order continues to ban evictions for certain renters under Section 361 of the Public Health Service…

IRS Extends COVID-19 Relief

In response to the COVID-19 pandemic, the IRS issued Notice 2020-53 in July 2020.  This Notice provided temporary relief from certain requirements under §42 of the Internal Revenue Code and §§142(d) and 147(d) of the Code for properties with tax-exempt…

Fixed Four Percent Credit – When Does it Apply?

The COVID-19 relief legislation that was recently signed into law included a provision fixing the four percent LIHTC at an actual four percent rate. This floor applies both to properties with tax-exempt bonds and acquisition credits.  However, there are transition…
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