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HUD Mortgage Insurance Premiums for LIHTC Projects

September 26, 2013

HUD published a Notice in the Federal Register on September 26, 2013, clarifying that conventional or FHA-insured projects with existing LIHTC’s, and other affordable projects that meet LIHTC affordability criteria are eligible for the LIHTC Mortgage Insurance Premium (MIP) rate.…

Landmark Fair Housing Decision Goes Against Hazleton, PA

September 15, 2013

On July 26, 2013, a Federal District court issued an opinion that may once and for all answer the question as to whether local governments can enforce laws that relate to the immigration status of individuals. The case is Lozano…

HUD Changes to Appendix 3 of 4350.3 – Acceptable Forms of Verification

September 4, 2013

Along with the recent publication of Change 4 to HUD Handbook 4350.3, HUD also amended Appendix 3, Acceptable Forms of Verification. Some of the changes are worth noting, as follows (changes are shown in parentheses): Assets disposed of for less…

IRS Approves Same-Sex Marriage for Tax Purposes

August 29, 2013

Yesterday, I sent you an email that the IRS had not yet decided whether to recognize same-sex marriage for purposes of filing a joint federal tax return. I also indicated that I believed this was clearly contrary to the Supreme…

HUD Final Rule on HOME Program

August 2, 2013

On July 24, 2013, HUD published a final rule on the HOME program. Most provisions of the rule are effective for properties that receive HOME funds on or after August 23, 2013. Properties already operating under the HOME program, or…

HOME Program Rent Decreases

July 29, 2013

As you probably know by now if you are operating properties that utilize HOME funds, HUD has released the 2013 HOME rent limits. You may also be aware that due to calculation errors by HUD in earlier years, dating back…

Senate Bill Amending the Fair Housing Act Introduced

July 14, 2013

S. 1242, A Bill to Amend the Fair Housing Act, and for Other Purposes, was introduced in the Senate on June 27, 2013, and was referred to the Senate Judiciary Committee. The short title of the bill is “Housing Opportunities…

Rural Area Definition – Legislative Update (June 28, 2013)

June 29, 2013

Approximately 900 communities across the United States that are currently considered “rural” for purposes of United Stated Department of Agriculture (USDA) programs are in danger of losing their rural designation. The communities will no longer be considered rural based on…

Effect of Supreme Court Ruling on DOMA on LIHTC Student Rule

June 27, 2013

As you probably know by now, on June 26, 2013 the Supreme Court declared that Section Three of The Defense of Marriage Act (DOMA) is unconstitutional. This decision basically holds that persons of the same sex who are legally married…

HUD Proposed Rule on Pet Deposits for Multifamily Housing

June 22, 2013

HUD published a proposed rule in the Federal Register on May 24, 2013 that would change the requirements for owners of HUD-assisted multifamily housing relative to the collection of pet deposits on projects intended for occupancy by elderly or disabled…

More Focus on National Origin Discrimination Since Boston Marathon Attack

May 19, 2013

Since the bombing attack at the Boston Marathon in April 2013, social media sites have been swamped with anti-Islamic sentiment. This is reminiscent of what happened just after the 9/11 terrorist attacks. In the years since 9/11, the Department of…

HUD Provides Updated Guidance Regarding Assistance Animals

May 11, 2013

HUD Issues Notice Clarifying Service Animal Issues On April 25, 2013, HUD issues FHEO Notice 2013-01, Service Animals and Assistance Animals for People with Disabilities in Housing and HUD-Funded Programs. This notice provides additional clarification of housing provider obligations…

New Veteran Preference for New Jersey Properties

April 27, 2013

Governor Chris Christie recently signed into law legislation that will expand access to affordable housing for New Jersey veterans. This new program allows owners of affordable housing to give a preference for veterans by entering into a preference agreement with…

Section 202 Projects May be Impacted by Changes to HUD HAP Contract Renewal Procedure

April 22, 2013

Several changes made to the housing assistance payments (HAP) contract renewal process may have a significant impact on owners of Section 202 properties. These changes were outlined in Notice 2012-08 and clarified on the Frequently Asked Questions section of the…

Administration Proposals to Improve the LIHTC Program

April 21, 2013

As part of its 2014 budget, the Obama Administration has made five specific proposals relative to the LIHTC Program. Allow states to convert some of their authority relating to the issuance of tax-exempt bonds into additional tax credits. (This…

Bipartisan Policy Center Recommendations

April 16, 2013

The Bipartisan Policy Center was founded in 2007 by former Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole, and George Mitchell for the purpose of developing and recommending sound solutions to national problems. The Center has recently issued a…

Handling Income from Investment Accounts

March 18, 2013

As most operators of housing under HUD, Rural Development, and the Low-Income Housing Tax Credit Programs know, there is a considerable difference of opinion in our industry regarding the handling of investment accounts from which regular distributions are taken. This…

HUD and HHD Introduce New Program for Disabled Low-Income

March 7, 2013

On February 12, 2013, the Department of Housing & Urban Development (HUD) and the Department of Health & Human Services (HHS) announced $98 million for 13 state agencies to provide rental assistance to persons with…

Violence Against Women Act Ready for President’s Signature

March 4, 2013

On February 28, 2013, the Violence Against Women Act (VAWA) passed the House of Representatives after already having been approved by the Senate. The bill now goes to President Obama for his signature, which is certain. Title VI, Section…

HUD Changes Income Verification Rules for PHAs

February 26, 2013

HUD has issued Notice PIH 2013-3, establishing temporary guidelines for public housing agencies (PHAs) in fulfilling certain public housing and Housing Choice Voucher program requirements during this period of decreased resources available to PHAs. It offers PHAs four options that…

Increased Focus on Sex Offender Issues Could Impact MOR Scores

February 25, 2013

Increased Focus on Sex Offender Issues Could Affect MOR Scores The U. S. Department of Housing & Urban Development (HUD) has updated HUD-9834, Management Reviews of Multifamily Projects. This new version of the form will be in effect for…

HUD Publishes Final Rule on Fair Housing Disparate Impact

February 16, 2013

On February 15, 2013, HUD published a final rule in the Federal Register (78 Fed. Reg. 11460) regarding disparate impact liability under federal fair housing law. Disparate impact is the theory of fair housing law that asserts that certain policies…

IRS Priorities for 2013 Relating to LIHTC

February 9, 2013

During 2013, the IRS will review various issues under Section 42 of the IRC, including the following: Guidance relating to the application of the design and construction accessibility requirements under the Fair Housing Amendments Act of 1988. Issues relating…

Effect of Sequestration on Affordable Housing

February 5, 2013

As anyone who watches the news knows, if Congress does not act by March 1, 2013, sequestration will kick in. When people talk about sequestration, or “sequester cuts, they are referring to a series of draconian budget cuts, totaling $1.2…

New Tool for Landlords – Cash Payments Without the Cash

January 29, 2013

There are many reasons why most landlords do not accept cash rent payments. Paper money creates dangers for both renters and landlords and is much more subject to loss or theft. However, many renters do not have bank accounts and…

No More Paper Checks for Federal Retirement Benefits

January 21, 2013

In an effort to save money, Federal officials began retiring paper checks in favor of direct deposits and prepaid ‘Direct Express’ debit cards in May, 2011. Since then, the Treasury Department has required all new recipients of payments from federal benefits…

Social Security Benefits Verification Now Available Online

January 9, 2013

Social Security recipients can now get their benefits verification letter and conduct other business online, as part of enhanced Web services introduced on January 7, 2013 by the federal government. The letters, which state the amount of the recipient’s monthly…

Treatment of Basic Housing Allowance for purposes of Income Eligibility Rules

January 2, 2013

Treatment of Basic Housing Allowance for purposes of Income Eligibility Rules The Tax Act Passed last night once again excludes the military Basic Allowance for Housing (BAH) (37 U.S.C sec. 403) for purposes of tax credit and tax-exempt bond…

Ten States Increase Minimum Wage

January 2, 2013

Ten States Increase Minimum Wage Happy New Year! For workers in ten states, the new year will bring an increase in minimum wages. Nine of the ten states already had minimum wage levels higher than the federal minimum of $7.25…

Rural Designation at Risk for Some Areas

December 20, 2012

Some Areas May Lose Rural Designation Approximately 55 areas around the country with MTSP income limits lower than the National Non-Metropolitan Income (NNMI) limits are in danger of losing their status as rural areas. These areas are found in…

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