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A. J. Johnson
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Congress Unveils New Section 8 Proposals

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A. J. Johnson
The House Housing Subcommittee has released a modified version of an earlier Section 8 Voucher Reform proposal, and chances for passage this year look to have improved over what they were earlier. The bill, entitled the Section 8 Savings Act,…

No More Paper Checks for Federal Benefits

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A. J. Johnson
Paper checks are being phased out for all federal benefit payments. Beginning May 1, 2011, anyone newly applying for Social Security, Veterans benefits or any other federal benefit, will need to choose an electronic payment method – paper checks will…

Mississippi Requiring Community Services for LIHTC Projects

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A. J. Johnson
The Mississippi Home Corporation (MHC) is requiring all 2011 low-income housing tax credit projects to provide tenant services not usually offered in affordable housing. The requirement, which is part of the Agency’s Qualified Allocation Plan (QAP) requires that projects commit…

Ohio Considering New Requirements for Tax Credit Market Studies

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A. J. Johnson
The Ohio Housing Finance Agency (OHFA) is considering the adoption of new requirements for tax credit project market studies. The changes would include new procedures that will demand more comprehensive conclusions regarding project feasibility. Analysts may also be required to…

HUD Notice Regarding Protection of Tenant Privacy

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A. J. Johnson
HUD has recently restated its intention to punish owners and managers of HUD assisted housing who fail to adequately safeguard the personally identifiable information (PII) of applicants and tenants in HUD assisted properties. Notice PIH 2010-15(HA), issued on May 6,…

Make Sure Your Section 8 Fact Sheet is Up-to-Date

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A. J. Johnson
HUD issued an updated Section 8 Fact Sheet in September 2010, but HUD noted in a TRACS conference call recently that many owners are still using the Fact Sheet from July 2007. There are differences in the two fact sheets…

Program Relief for Flood & Tornado Victims

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A. J. Johnson
State Housing Finance Agencies in Alabama, Tennessee, Georgia, and Mississippi are relying on IRS Revenue Procedure 2007-54 to provide relief for owners and tenants affected by recent flooding and tornados. The Procedure provides temporary relief from carryover allocation rules, recapture,…

IRS Releases Updated 8823 Guide

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A. J. Johnson
The IRS has released the third version of the 8823 Guide, designed to assist State Agencies and taxpayers in understanding IRS requirements relative to compliance with the Section 42 Low-Income Housing Tax Credit Program. Changes were not as sweeping as…

Affordable Housing Investors Council Issues New Underwriting Guidelines

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A. J. Johnson
The Affordable Housing Investors Council (AHIC) has revised their guidelines for the underwriting of low-income housing tax credit projects, calling for increased scrutiny of development and management teams. The revised recommendations include the following: • Investors should closely investigate developer…

President Proposes Changes to Section 42

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A. J. Johnson
The Obama Administrations fiscal 2012 budget makes changes in the tax provisions that govern the Low-Income Housing Tax Credit Program. One change would permit a 30 percent basis increase for bond-financed preservation projects that were originally financed with federal funds,…

Use Facts to Fight NIMBYism

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A. J. Johnson
Developers of affordable housing often face an uphill battle when trying to convince local planning commissions, city councils and community residents that an affordable housing complex will actually be good for a community. A recent report from the National Association…

New Cell Phone Application Offers Translation Services

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A. J. Johnson
Codetalker (www.codetalkerinc.com) is a new cell phone application that connects users to a live interpreter for a three-way conversation. Interpreter services for more than 175 languages are available, and the service also offers 24-hour turnaround for translation of documents. This…

Reminder Regarding DUNS Number

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A. J. Johnson
Last month, I reviewed the HUD requirement that all owners of HUD assisted properties obtain a Dun and Bradstreet Number no later than March 5, 2011. Failure to do so could result in a loss of subsidy. If you are…

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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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