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Legislation Introduced for Middle Income Tax Credit

In December 2023, Congress considered a new approach to America’s housing affordability crisis with the introduction of the “Workforce Housing Tax Credit Act” in both the House and Senate. This proposed bill aims to establish a Middle-Income Housing Tax Credit,…

HUD Releases Study on Worst Case Housing Needs

The Department of Housing & Urban Development (HUD) has presented a report to Congress titled “Worst Case Housing Needs.” The report provides national data and analyzes the critical problems of low-income renting families. The report primarily draws on data from…

HUD Issues Final NSPIRE Standards

The Department of Housing & Urban Development (HUD) has announced the pending federal register publication of the Final Inspection Standards Notice for the National Standards for the Physical Inspection of Real Estate (NSPIRE). The notice details inspectable items at HUD-assisted…

HUD Publishes 2023 Income Limits

On May 15, 2023, HUD published the 2023 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 May 15, 2023.  The limits for the LIHTC and…

HOTMA Final Rule – Impact on HOPWA Program

The Department of Housing & Urban Development (HUD) has released a Final Rule implementing the Housing Opportunity Through Modernization Act of 2016 (HOTMA). This final rule was published in the Federal Register on February 14, 2023. With the exception of…

Biden Administration Introduces “Renters Bill of Rights”

In late January 2023, the Biden administration released a Blueprint for a Renters Bill of Rights.  This blueprint describes federal actions around five guiding renter protections: Safe, Quality, Accessible, and Affordable Housing; Clear and Fair Leases; Education; Enforcement and Enhancement…

HUD Releases Final Rule Implementing HOTMA

The Department of Housing & Urban Development (HUD) has released a Final Rule implementing the Housing Opportunity Through Modernization Act of 2016 (HOTMA). This final rule has not yet been published in the Federal Register. Publication in the Federal Register…

Minimum Wage Increases Will Occur in 27 States in 2023

In 2023, 27 states will have new minimum wage rates. The federal minimum wage remains unchanged at $7.25 and applies in 20 states. It was last raised on July 24, 2009. Affordable housing managers responsible for determining the income of…

The Growing Challenge to Affordable Housing for Seniors

There is strong demand for affordable multi-family housing for seniors. One of the programs best suited to meet this need is the Low-Income Housing Tax Credit (LIHTC). However, with the aging of the baby boomers, more seniors are reaching the…

Virginia Housing Looking for Compliance Staff

Virginia Housing (formerly Virginia Housing & Development Authority) has three positions open in Compliance & Asset Management. If interested, you may access the position descriptions at https://us63.dayforcehcm.com/CandidatePortal/en-US/VHDA. Virginia Housing (VH) is one of the premier Housing Finance Agencies in the…

Novogradac Releases Study on 2023 Income Estimates

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…

Apartments & Pets – To Allow or Not

Owners of multifamily housing often struggle with whether or not to permit pets at their properties. Until recently, in some areas, it was nearly impossible to find apartment communities that permit pets. While that has begun to change,  there are…

Remote Work – Here to Stay

Now that the pandemic is showing signs of waning and life is beginning to return to normal, we are all eager to see if the workplace will also look like it did pre-pandemic. The answer is becoming increasingly clear –…

Treasury Announces ERA1 Reallocation for Round 2

The Department of Treasury has announced the Round 2 reallocations for the Emergency Rental Assistance 1 (ERA1) funds. This was a reallocation of funds that were not used by the entities to whom the funds were initially allocated. A total…
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