In June 2024, A. J. Johnson, a renowned expert in the field, will join forces with the esteemed Mid-Atlantic Affordable Housing Management Association to conduct training sessions for real estate professionals. These sessions, tailored for those in the affordable multifamily housing field, will be delivered through live webinars, culminating in an in-person administration of the HCCP exam. The following sessions are scheduled:
June 6: HOTMA – Update on HUD Requirements – On January 9, 2023, HUD published a final rule implementing The Housing Opportunity Through Modernization Act (HOTMA), signed into law on July 29, 2016. This final rule was published in the Federal Register on February 14, 2023, and became effective on January 1, 2024. Virtually all HUD programs are impacted by the rule, as are the Low-Income Housing Tax Credit (LIHTC) Program and the Rural Development Section 515 Program. Since publishing the final rule in February 2023, HUD has provided additional guidance in implementing the rule, including extensions regarding implementation. This three-hour training will explain any updated HUD guidance and will cover the following areas: (1) Definitional changes relating to earned and unearned income, non-recurring income, and foster children; (2) Revised Income Exclusions; (3) New requirements relative to Student Financial Assistance; (4) Changes to the HUD permitted deductions from gross income, including a full review of the new “hardship exemptions;” (5) Brand new rules regarding assets; (6) New Interim Recertification requirements; (6); and (7) the new definition of “annual income.”
This session is a must for all managers of HUD, Rural Development, and LIHTC properties and will provide plenty of opportunity for Q&A.
June 11: 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 and minimum set-aside issues (including the Average Income Minimum Set-Aside), optional fees, HOTMA changes, and use of common areas are included. The Available Unit Rule is covered in great detail, as are the requirements for units occupied by students. Attendees will also learn the requirements for setting rents at a tax-credit property. This course contains some practice problems but is more discussion-oriented than the Basic course. A calculator is required for this course.
June 12: 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. Individuals taking the HCCP exam on June 13 will be provided with study materials and a practice exam to assist in preparation for the HCCP exam.
June 13: Review of testable areas and administration of the Housing Credit Certified Professional (HCCP©) exam (In-person exam in Richmond, VA). After two days of intensive and comprehensive live webinar LIHTC training, AJ will review program requirements and administer the HCCP exam in person.
These sessions are part of a year-long collaboration between A. J. Johnson and MidAtlantic AHMA 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) training sessions may register by visiting either www.ajjcs.net or https://www.mid-atlanticahma.org.