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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 14... 01/16/2021
Work Patterns Will Never Be the Same Again - Long Term Planning & Preparation is Key
Despite the death grip COVID-19 has had, the global economy is on the threshold of a burst of growth driven by technology. If long-gestating technologies like Artificial Intelligence (AI) and auto... 01/10/2021
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-exe... 01/03/2021
Virginia Landlord Settles Sexual Harassment Case
On September 29, 2020, the U.S. Department of Justice (DOJ) announced that Gary T. Price, a manager of rental properties in and around Harrisonburg, VA, together with owners of the properties, Albert... 01/02/2021
New York Passes Comprehensive Anti-Eviction Law
The New York State Legislature convened an unusual special session just after Christmas to pass one of the nation s most comprehensive anti-eviction laws, which will ban landlords from evicting most ... 12/29/2020
Trump Finally Signs Funding and Relief Bills
On December 27, 2020, President Trump finally signed the FY 2021 Omnibus Spending and COVID-19 Relief Bills. Passage of these two pieces of legislation will impact the affordable housing industry in ... 12/28/2020
HUD Takes Hard Line on Local "Nuisance" Policies that Target Affordable Housing
A recent compliance agreement entered into between the Department of Housing & Urban Development (HUD) and a California city demonstrates the aggressive approach HUD will take against localities ... 12/27/2020
HUD Publishes Operating Cost Adjustment Factors (OCAF) for 2021
On November 27, 2020, HUD published in the Federal Register a Notice of Certain Operating Cost Adjustment Factors for 2021. These OCAFs may be used for eligible project-based assistance properties th... 12/26/2020
HIghlights of COVID-19 Relief Bill
President Trump is expected to sign the massive, year-end catchall bill Congress passed that combines $900 billion in COVID-19 aid with a $1.4 trillion omnibus spending bill and reams of other unfini... 12/22/2020
Minimum Wage to Increase in Many Areas in 2021
In 2021, 19 states will have new minimum wage rates. Affordable housing managers responsible for determining the income of applicants and residents need to be aware of state and local minimum wage... 12/21/2020
The rise in Housing Prices Further Inhibits Affordability - But, May Offer Opportunities to Landlords
Affordable housing across America whether ownership or rental is growing scarcer than ever, as the wealthy bid up properties that might once have been considered affordable. This is especially ... 12/20/2020
New Products Make Healthy Housing a Reality
Healthy living is on everyone s mind now. The COVID-19 pandemic has raised awareness of the environments we live in and the importance of those environments in our daily lives. Also, the increase in ... 12/19/2020
Hoarding - A Challenge for Housing Managers
In 2013, the American Psychiatric Association (APA) declared hoarding to be a clinical disability, automatically putting the issue of hoarding front and center with housing operators. The Fair Housin... 12/13/2020
Novogradac Releases Estimates of National, State, and Local Median Incomes for 2021 and 2022
Novogradac, a national accounting and professional services firm, has released its estimates of income limits on a national and state level. Using the 2019 American Community Survey (ACS) and the Con... 12/12/2020
A. J. Johnson to Host Full-Day Webinar on Income and Asset Requirements
A. J. Johnson will be conducting a webinar on December 16, 2020 on The Verification and Calculation of Income and Assets on Affordable Housing Properties. The Webinar will be held from 10:00 AM to 4:... 12/06/2020
A. J. Johnson to Offer Fair Housing Webinar on December 15
A. J. Johnson will be conducting a webinar on December 15, 2020, on Compliance with Federal and State Fair Housing Requirements. The Webinar will be held from 1:00 PM to 4:30 PM Eastern Time. The ... 12/05/2020
Affordable Housing Priorities of the Incoming Biden Administration
Elections have consequences. With the election of Joe Biden as President, the consequences for the affordable housing industry are likely to be very positive and will at the least put an end to the a... 11/29/2020
HUD Issues Updated Notice on Electronic Signature, Transmission, and Storage
On November 6, 2020, the Department of Housing and Urban Development (HUD) issued Notice H-2020-10, Electronic Signature, Transmission, and Storage Guidance for Multifamily Assisted Housing Industr... 11/29/2020
Updated HUD Guidance on REAC Inspections During the COVID-19 Pandemic
On November 13, 2020,  HUD issued updated guidance on the inspection of Public and Multifamily Housing projects during COVID-19. This guidance was issued in the form of an updated FAQ. The FA... 11/21/2020
Senate Staff Issues Report on the State of Affordable Housing
In October 2020, the Senate Majority Staff issued a report titled, Housing Programs The Need for One Roof. The purported purpose of the report is to begin a needed conversation about reforming ... 11/08/2020
CORRECTION - IRS Notice of Proposed Rulemaking on Average Income Test
Thank God my clients read better than I type. One of my more astute readers noticed a pretty significant typo in the example in #1 below. I have corrected the error - I hope it did not create too muc... 11/02/2020