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Stay informed with the latest news and updates regarding the affordable housing industry.

Average Income Final Regulation - The Available Unit Rule

A short time ago I posted an article providing an overview of the new IRS final regulation on the Average Income Set-Aside. I promised to post a series of articles detailing some of the more complex ...

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DC Voucher Discrimination Results in Record Penalty

The District of Columbia entered into a consent agreement on October 15, 2022, requiring three real estate firms (Daro Realty, LLC, Daro Management Services, and Infinity Real Estate, LLC)  and ...

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Average Income Final Regulation - Qualified Groups of Units and the Applicable Fraction

A short time ago I posted an article providing an overview of the new IRS final regulation on the Average Income Set-Aside. I promised to post a series of articles detailing some of the more complex ...

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Court Rules Low-Income Residents Are Not a Protected Group

In Moody et al v. The Related Companies, LP (decided in August 2022), affordable housing tenants in an upscale New York City development filed a disparate impact claim under the Fair Housing Act (FHA...

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Court Rules That Acceptance of Voucher May be Reasonable Accommodation

In Arnold v. Elmington Property Management, LLC, the U.S. District Court for the Northern District of Alabama ruled that a landlord should grant as a reasonable accommodation its acceptance of Sectio...

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IRS Provides Unexpected Extension of COVID Relief

The IRS has published Notice 2022-52, providing unexpected extensions to HFAs and LIHTC properties due to the COVID pandemic. The relief has been granted due to unavoidable labor and supply-chain ...

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Significant Improvements in Final Average Income Regulation

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 substan...

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Social Security COLA - 2023

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 provi...

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