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A. J. Johnson
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Section 45L Energy Tax Credit

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A. J. Johnson
Section 45L Energy Tax Credit   When Congress passed the American Taxpayer Relief Act of 2012, it extended the Section 45L tax credit, which provides eligible contractors of homes -including apartments -, with a tax credit of $2,000 per energy…

Ten States Increase Minimum Wage

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A. J. Johnson
Ten States Increase Minimum Wage Happy New Year! For workers in ten states, the new year will bring an increase in minimum wages. Nine of the ten states already had minimum wage levels higher than the federal minimum of $7.25…

Rural Designation at Risk for Some Areas

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A. J. Johnson
Some Areas May Lose Rural Designation   Approximately 55 areas around the country with MTSP income limits lower than the National Non-Metropolitan Income (NNMI) limits are in danger of losing their status as rural areas. These areas are found in…

GAO Study of HERA and the LIHTC Program

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A. J. Johnson
As required by the Housing and Economic Recovery Act of 2008 (HERA), the General Accountability Office (GAO) of Congress has conducted a study of the impacts of HERA on the Low-Income Housing Tax Credit Program. Findings of the study were…

Setting Up a Home Visit Program

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A. J. Johnson
One of the best practices to assist a management company in determining whether an applicant will be a good resident is a home visit program. Before considering the establishment of such a program, management should be aware of the difficulties…

Generally Allowable Medical Expenses

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A. J. Johnson
Generally Allowable Medical Expenses   The rent calculation for many affordable housing programs, including HUD Section 8 and Rural Development Section 515, is based on the “adjusted” income of households. Adjusted income is the “gross” income of a household, minus…

IRS Publishes Sandy Disaster Relief Notice

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A. J. Johnson
Low-Income Housing Credit Disaster Relief for Hurricane Sandy   The IRS issued Revenue Notice 2012-68 on November 5, 2012, effective after October 22, 2012, providing emergency housing relief as a result of Hurricane Sandy. The Notice allows State Housing Agencies…

Sign Posting Requirements

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A. J. Johnson
Every few years I like to remind clients of the various requirements relating to the sign posting requirements for companies in the property management business. Failure to post the signs can cost as much as $10,000 per violation, so it…

HUD Publishes Revised REAC Scoring Protocol

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A. J. Johnson
HUD has made a number of changes in the way REAC inspections will be scored, beginning with inspections on or after January 1, 2013. The changes are noted in Compilation Bulleting Revision 2.3.   HUD has added a “point loss…

HUD Implements New Rental Assistance Demonstration Program

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A. J. Johnson
On July 26, 2012, HUD published a Final Notice in the Federal Register implementing the Rental Assistance Demonstration (RAD) Program. The program offers new opportunities to public housing agencies and some private owners of affordable housing projects.   The program…

GAO Report on RHS Subsidy Errors

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A. J. Johnson
The U.S. Government Accountability Office (GAO) completed a study in 2012 that examined improper RA payments by the Rural Housing Service (RHS). The study found that between 2007 and 2010, RHS made from $15 million to $35 million in errors…

Use of Residual Receipts to Offset HAP Payments (Notice H-2012-14)

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A. J. Johnson
HUD Notice H-2012-14 was published on August 2, 2012 requiring the use of “New Regulation” Section 8 Housing Assistance Payments (HAP) Contracts residual receipts to offset project-based Section 8 HAP payments. This Notice applies to Section 8 New Construction/Substantial Rehabilitation…

HUD Eliminates Two Income Exclusions and Adds Others

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A. J. Johnson
HUD Amends List of Income Exclusions   On July 24, 2012, HUD published in the Federal Register additional types of income that are excluded from income for purposes of determining eligibility for HUD housing programs. These exclusions also apply to…

A. J. Johnson Consulting to Introduce Pre-MOR Review Service

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A. J. Johnson
A.  J. Johnson Consulting Services will begin offering a new service in January 2013. This service will be conducting pre-MOR reviews for properties with project-based Section 8 assistance. Those properties subject to HUD and Contract Administrator review will benefit from…

IRS Proposed Rule on Utility Allowances

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A. J. Johnson
The IRS has published a proposed regulation that will amend the IRS utility allowance regulation 1.42-10. This regulation outlines requirements relative to utility allowances on low-income housing tax credit buildings. The proposed regulation updates 1.42-10 to clarify that utility costs…

The Importance of Cost Segregation Studies

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A. J. Johnson
Cost segregation is the process of examining all the physical components of a property and classifying them based on their life expectancy for tax purposes. A major tax court case (AmeriSouth v. Commissioner (TC Memo 2012-67), March 2012) has resulted…

Dealing with Bed Bug Infestation

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A. J. Johnson
Bedbugs: Addressing and Preventing Outbreaks in Tax Credit Properties By A. J. Johnson             Outbreaks of bedbug infestation in apartments are increasing at an alarming rate in most metropolitan areas of the country, and low-income housing tax credit properties are…

HUD Publishes Formal Guidance on Infestation Control

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A. J. Johnson
On April 23, 2012, HUD published Notice H 2012-5, “Guidelines on Addressing Infestations in HUD insured and Assisted Multifamily Housing.” This guidance formalizes that in cases of infestation, owner priority should be the establishment of an Integrated Pest Management Plan…

Section 538 Web Conferences

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A. J. Johnson
In August and November 2012, the United Stated States Department of Agriculture will hold a series of teleconference calls and/or web conferences regarding the Section 538 Guaranteed Loan Program. These discussions are open to the public and will cover a…

Indiana Getting Tougher for Rules Infractions

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A. J. Johnson
Developers and developer team members who fall into noncompliance with LIHTC program rules will face tougher penalties under proposed rules issued by the Indiana Housing & Community Development Authority (IHCDA). Under the proposal, which is contained in the draft 2012-2013…

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Guidance

The Professional Property Manager's Guide to the Low Income Housing Tax Credit

An easy to understand and in-depth guide written by a nationally recognized leader in affordable housing compliance, A. J. Johnson.


The Professional Property Manager's Guide to the Violence Against Women Act

Designed to provide professionals in the affordable housing industry with an easy to understand reference manual for issues related to VAWA.

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