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A. J. Johnson

A. J. Johnson

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Significant Improvements in Final Average Income Regulation

October 14, 2022

The IRS released final and temporary regulations on the Low-Income Housing Tax Credit Average Income Test Regulations on October 7, 2022. The regulation is now in effect. In general, these substantive final regulations provide significant flexibility with respect to satisfying…

Social Security COLA – 2023

October 13, 2022

The federal government announced on October 13, 2022, that the Social Security Cost of Live Adjustment (COLA) for 2023 will be 8.7%, which is the largest increase since 1981. This increase will provide an additional $146 per month for the…

Social Security COLA is Expected to be Announced on October 12 or 13.

October 11, 2022

The annual Cost of Living Adjustment (COLA) for Social Security should be announced no later than October 13 and based on the inflation rate to date, may be as high as 8.7%. It’s likely to be the biggest since 1981,…

A. J. Johnson Joins Mid-Atlantic AHMA for Fall Conference on Affordable Housing

October 11, 2022

A. J. Johnson will be participating in the Mid-Atlantic Affordable Housing Management Association Fall Conference on Affordable Housing in November 2022. The Conference will be held from November 15-17, 2022 at the Doubletree Hotel/Midlothian-Richmond in Richmond, VA. The conference will…

IRS Issues Final Average Income Regulation

October 8, 2022

On October 7, 2022, the IRS published final and temporary regulations on the average income set aside for the LIHTC program. A quick review of the regulation indicates that the “cliff test” has been eliminated and owners will have more…

A. J. Johnson Partners with CHFA on Live Webinar – What Happens After an 8823 is Issued?

October 3, 2022

A.J. Johnson will be presenting 8823s – What Happens After They Are Sent to the IRS on October 20, 2022, at 11:00 AM (EST). This class will be offered through Colorado Housing and Finance Authority’s chfareach educational programming for affordable housing property…

A. J. Johnson Partners with Enterprise to Provide LIHTC Training and HCCP Exam

October 1, 2022

On November 1, 2, and 3, A. J. Johnson will be partnering with Enterprise Community Partners for in-person training intended for real estate professionals, particularly those in the affordable multifamily housing field. Following the in-person training sessions, AJ will be…

Meta (formerly Facebook) Settles Fair Housing Complaint with DOJ

September 25, 2022

The Department of Justice (DOJ) has entered into a Settlement Agreement resolving allegations that Meta Platforms, Inc., formerly known as Facebook, Inc., has engaged in discriminatory advertising in violation of the Fair Housing Act (FHA). The proposed agreement resolves a…

HUD Finalizes New MOR Scheduling Protocol

September 24, 2022

Section 8 properties are subject to audits and inspections known as Management & Occupancy Reviews (MORs). HUD has recently introduced a new risk-based management and occupancy review schedule. The new schedule is designed to streamline and reduce the number of…

A. J. Johnson to Host Live Webinar on Interviewing Skills for Affordable Housing Managers

September 19, 2022

A. J. Johnson will be conducting a webinar on September 29, 2022, on Interviewing Skills for Affordable Housing Managers. The Webinar will be held from 1:00 PM to 4:00 PM Eastern time. One of the most important skills any affordable…

IRS Final Regulation on Average Income Set-Aside Nearing Release

September 18, 2022

The IRS has sent final regulations relating to the Average Income (AI) test to the U.S. Office of Management & Budget for review. The final regulations were received by OMB on September 12, 2022. This is the final step before…

Court Rules Against Landlord and Will Not Dismiss LEP Case

September 17, 2022

A fair housing non-profit organization is suing two DeWitt, New York apartment complexes, alleging that they discriminate against foreign-born residents by refusing to rent to anyone who does not have someone who speaks English fluently living with them. CNY Fair…

A. J. Johnson Partners with Mid-Atlantic AHMA for October Training on Affordable Housing

September 17, 2022

During the month of October 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for two live webinar training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. The following…

HUD Allows for Increase in Distribution of Surplus Cash for Insured Properties

September 10, 2022

The Department of Housing & Urban Development (HUD) issued Mortgagee Letter 2022-16 on September 7, 2022, allowing for an increase in the frequency of the distribution of surplus cash for Non-Assisted HUD Insured properties. Surplus Cash Distributions from insured multifamily…

A. J. Johnson to Offer Live Webinar on Interviewing Skills for Affordable Housing Managers

August 29, 2022

A. J. Johnson will be conducting a webinar on September 29, 2022, on Interviewing Skills for Affordable Housing Managers. The Webinar will be held from 1:00 PM to 4:00 PM Eastern time. One of the most important skills any affordable…

HOME Funds Trigger Section 504 Compliance

August 27, 2022

One of the most common questions I get from clients with HOME funding for their project is whether Section 504 requirements apply when HOME funding is present. THE ANSWER IS ALMOST ALWAYS – YES! What is Section 504? Section 504…

HUD Charges Landlord with Discrimination Against Transgendered Resident

August 21, 2022

In one of the clearest signals yet that HUD considers the Fair Housing provision against discrimination based on sex to include sexual orientation and gender identity, the Department has filed a charge of Discrimination against an RV resort in central…

Reminder – HUD to Enforce Carbon Monoxide Protections in HUD-Assisted Projects

August 20, 2022

In February of this year, I posted an article on the HUD Notice H-2022-10, which clarified federal requirements for carbon monoxide (CO) alarms and detectors. CO is a byproduct of fuel-fired combustion appliances such as furnaces and water heaters. If…

State & Local Fiscal Recovery Funds – A Source of Gap Funding for LIHTC Properties

August 13, 2022

The Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program, a part of the American Rescue Plan, delivers $350 billion to state, local, and Tribal governments across the country to support their response to and recovery from the COVID-19 pandemic.…

A. J. Johnson Partners with Mid-Atlantic AHMA for September Training on Affordable Housing

August 11, 2022

During the month of September 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for three live webinar training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. The following…

A. J. Johnson to Host Live Webinar on End of Year LIHTC Compliance Requirements

August 8, 2022

A. J. Johnson will be conducting a webinar on September 8, 2022, on Ensuring Section 42 Compliance on December 31. The Webinar will be held from 1:00 PM to 2:30 PM Eastern time. Experienced LIHTC managers and compliance professionals all…

Freddie Mac Publishes Study of Risk of Affordable Housing Loss Due to Expiring LIHTC Extended Use

July 31, 2022

Freddie Mac (the Federal Home Loan Mortgage Corporation) has released a study titled “Risk and Impact of LIHTC Properties Exiting the Program: Examining the Risks of Expiring LIHTC Restrictions and the Outcomes of Properties that Exit.” As market rents continue…

Cooler Surfaces Create a Competitive Advantage

July 30, 2022

Multifamily housing developers – including those who build affordable housing – can reduce peak temperatures by replacing hot, dark surfaces – interior roads, rooftops, playgrounds, and parking lots – with cooler alternatives. With each summer seemingly getting hotter than the…

HUD Issues Guidance on Solar Credits Impact on Resident Income and Project Utility Allowances

July 24, 2022

A growing number of states offer community solar programs. These programs give families who live in properties, including HUD-subsidized properties and private market rental units, access to renewable energy, even though the property itself may not be suitable for solar…

A. J. Johnson to Offer Live Webinar on File Management & Documentation for Affordable Housing

July 17, 2022

A. J. Johnson will be conducting a webinar on July 27, 2022, on File Management & Documentation for Affordable Housing Properties. The Webinar will be held from 1:00 PM to 3:30 PM Eastern time. This 2.5-hour course covers the important,…

Updated Registration Information for A. J. Johnson/Colorado Housing VAWA/LIHTC Webinar

July 16, 2022

A.J. Johnson will be presenting the Violence Against Women Act – Guidance for LIHTC Properties on August 4, 2022, at 11:00 am (EST). This class will be offered through Colorado Housing and Finance Authority’s chfareach educational programming for affordable housing property owners…

Novogradac Releases Study on 2023 Income Estimates

July 16, 2022

Novogradac and Company, a nationally recognized accounting firm in the area of affordable housing, has released a study on potential changes in income limits for 2023. Novogradac completed the estimates using five-year American Community Survey (ACS) data. When the Department…

A. J. Johnson to Partner with the Colorado Housing Finance Authority on VAWA/LIHTC Live Webinar

July 11, 2022

A.J. Johnson will be partnering with the Colorado Housing Finance Authority (CHFA) in presenting the Violence Against Women Act – Guidance for LIHTC Properties on August 4, 2022, at 11:00 am (EST). This class will be offered through Colorado Housing and…

HUD Updates National Nonmetropolitan Income Limits

July 9, 2022

When the Department of Housing & Urban Development (HUD) published the 2022 income limits (effective April 18, 2022), the Department simultaneously published the National Nonmetropolitan Income Limits (NNMIL) as part of the Frequently Asked Questions (FAQ) section of the Income…

Census Bureau Report Shows an Aging and More Diverse Population

July 3, 2022

On June 30, 2022, the U.S. Census Bureau released the 2021 Population Estimates by Age, Sex, Race, and Hispanic Origin. The report shows that the last two decades have seen the country grow continuously older. Since 2000, the national median…

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