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

Using PHA Income Verification for Section 8 Voucher Residents on LIHTC Projects

IRS Regulation 1.42-5 states that the requirement to verify the income of a low-income resident with a Section 8 voucher at a tax credit property is satisfied if the public housing authority provid...

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Notice H 2016-18, Automating Capital Needs Assessments

HUD published Notice H 2016-18 on December 30, 2016, "Implementation of the CNA e Tool: Automating Capital Needs Assessments (CNA), and Related Policy Changes." The Notice introduces new Capi...

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Costs and Burdens Relating to VAWA

The cost of implementing the VAWA 2013 requirements can be significant. The HUD final rule provides guidance on who will bear the cost of implementation. One issue is who bears the cost if a proper...

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Some States and Localities Increase the Minimum Wage for 2017

Managers of affordable housing properties spend a good deal of their time verifying and calculating income. All managers are aware that most workers must be paid a minimum wage (some workers are exemp...

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IRS Notice 2016-77 - QAP Preferences Relative to Community Revitilization Plans

On December 27, 2016, the IRS issued Notice 2016-77. This Notice relates to the issue of satisfying the required Qualified Allocation Plan (QAP) preference relating to Community Revitalization Plans. ...

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2017 Increase in Pay for Active Duty Military

The National Defense Authorization Act of 2017 has been signed into law by President Obama and effective January 1, 2017, all active duty and active reservists will receive an increase of 2.1% in bas...

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IRS Revenue Ruling 2016-29 - Regarding Qualified Allocation Plan Provisions Relating to Local Approval of LIHTC Allocations

This recently issued Revenue Ruling addresses the issue of whether or not Section 42 of the Internal Revenue Code requires or even encourages Housing Finance Agencies (HFAs) to reject proposals for lo...

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VAWA Emergency Transfer, Documentation, and Lease Bifurcation Requirements

The most detailed and complex part of the HUD Final Rule on VAWA deals with the emergency transfer requirements. This article focuses primarily on those requirements. I am also covering basic document...

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