During March 2024, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for five live webinar training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. The following sessions will be presented:
March 12: Intermediate LIHTC Compliance – Designed for more experienced managers, supervisory personnel, investment asset managers, and compliance specialists, this program expands on the information covered in the Basics of Tax Credit Site Management. A more in-depth discussion of income verification issues is included as well as a discussion of minimum set-aside issues (including the Average Income Minimum Set-Aside), optional fees, and use of common areas. The Available Unit Rule is covered in great detail, as are the requirements for units occupied by students. Attendees will also learn the requirements relating to setting rents at a tax-credit property. This course includes the recent HOTMA changes and contains some practice problems but is more discussion-oriented than the Basic course. A calculator is required for this course.
March 19: Two separate webinars will be offered on this date. An Overview of the HOME Program with HOTMA Changes will be offered in the morning. This three-hour course outlines the basic requirements of the HOME Investment Partnership Program, with particular emphasis on combining HOME funds with the federal Low-Income Housing Tax Credit. The training provides an overview of HOME Program regulations, including rent rules, unit designations, income restrictions, and recertification requirements. The course also includes the recent HOTMA changes that impact the HOME program. The course concludes with a detailed discussion of combining HOME and tax credits, focusing on occupancy requirements and rents, tenant eligibility differences, handling over-income residents, and monitoring requirements.
March 19: The afternoon session will be Management of Rural Development Section 515 Layered Deals. The development of affordable rental housing is a complex undertaking that often requires a combination of programs to succeed. While the foundation of most affordable rental housing today is the Low-Income Housing Tax Credit Program, the tax credits alone are often not enough to ensure project feasibility. Successful properties often must “layer” programs to work. One such program is the Rural Development Section 515 program. When combining other programs with a Section 515 project, management must understand the rules of all, and be able to implement them at the project level. This three-hour session will cover some of the most common pitfalls when managing Section 515 layered properties and guide the knowledge required to be successful. Questions and discussions will be encouraged, and attendees will be able to ask specific questions about the issues facing their properties.
March 20: Advanced LIHTC Compliance – This full-day training is intended for senior management staff, developers, corporate finance officers, and others involved in decision-making concerning how LIHTC deals are structured. This training covers complex issues such as eligible and qualified basis, applicable fraction, credit calculation (including first-year calculation), placed-in-service issues, rehab projects, tax-exempt bonds, projects with HOME funds, Next Available Unit Rule, employee units, mixed-income properties, the Average Income Minimum Set-Aside, vacant unit rule, and dealing effectively with State Agencies.
March 21: Preparing Affordable Housing Properties for Agency Required Physical Inspections – Agency inspections of affordable housing properties are required for all affordable housing programs, and failure to meet the required inspection standards can result in significant financial and administrative penalties for property owners. This three-hour training focuses on how owners and managers may prepare for such inspections, with a concentration on State Housing Finance Agency inspections for the LIHTC program. Specific training areas include (1) a complete discussion of the most serious violations, including health & safety; (2) how vacant units are addressed during inspections; (3) when violations will be reported to the IRS; (4) the 20 most common deficiencies; (5) how to prepare a property for an inspection; (6) strategies for successful inspections; and (7) a review of the most important NSPIRE inspection requirements. As part of the training, attendees will have a blueprint they can use to prepare their properties for agency-required physical inspections – regardless of the program under which they operate.
These sessions are part of the year-long collaboration between A. J. Johnson and MidAtlantic AHMA that is designed to provide affordable housing professionals with the knowledge needed to effectively manage the complex requirements of the various agencies overseeing these programs.
Persons interested in any (or all) of these training sessions may register by visiting either www.ajjcs.net or https://www.mid-atlanticahma.org.