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HUD Provides Clarity on the Granting of HOME Funds to Entities That Then Loan the HOME Funds

October 2, 2021

In a recent edition of HOMEfires, HUD made it clear that a Participating Jurisdiction (PJ) may not grant or provide HOME funds to an entity that then lends the HOME funds to the owner of an affordable rental project. This…

Major Affordable Housing Legislation Introduced in the Senate

September 11, 2021

A. J. Johnson

Senator Ron Wyden (D-OR) has introduced the Decent, Affordable, Safe Housing for All (DASH) Act, legislation to make a generational investment to house all people experiencing homelessness, tackle the housing affordability crisis, and expand homeownership opportunities for young people by…

A. J. Johnson to Host Live Webinar on Verifying and Determining Income for Affordable Housing Applicants and Residents.

July 19, 2021

A. J. Johnson

A. J. Johnson will be conducting a webinar on July 29, 2021, on Verifying and Determining Income for Affordable Housing Applicants and Residents. The Webinar will be held from 1:00 PM to 3:30 PM Eastern time. A critical aspect of…

Reducing Insurance Premiums – A Key to Improving Property Cash Flow

July 10, 2021

A. J. Johnson

Nationally, insurance premiums for multifamily housing make up about 4% of the total operating expenses owners face in the operation of these properties, well behind the big-ticket items like taxes (32%) and salaries/personnel (25%). Despite being a low percentage of…

HUD Proposes Restoring Discriminatory Effects Rule

July 4, 2021

A. J. Johnson

On June 25, 2021, HUD announced that it will issue a proposed rule titled Restoring HUD’s Discriminatory Effects Standard. The publication proposes to rescind HUD’s 2020 disparate impact rule and restore the 2013 discriminatory effects rule. HUD believes that the…

Supreme Court Leaves CDC Eviction Moratorium in Place

June 30, 2021

A. J. Johnson

In a 5-4 vote, the Supreme Court is leaving a CDC nationwide ban on evictions due to COVID-19 in place. The Court rejected the request by a Landlord group, led by the Alabama Association of Realtors, to end the CDC…

Biden Housing Plan Stresses Housing as Infrastructure

May 29, 2021

A. J. Johnson

On May 26, the Biden Administration released its full plans for a surge in new housing spending as part of the American Jobs Plan. The proposal would invest $318 billion, including $105 billion in newly proposed tax credits. The goal…

HUD Secretary Announces Increase in REAC Inspections

April 26, 2021

A. J. Johnson

On April 23, 2021, HUD Secretary Marcia Fudge announced that effective June 1, 2021, HUD will substantially increase housing inspections for properties subject to REAC. Within a few days – as early as this week – HUD will formally notify…

A. J. Johnson to Host Asset Webinar

April 18, 2021

A. J. Johnson

A. J. Johnson will be conducting a webinar on April 29, 2021 on Dealing with Resident Assets at Affordable Housing Properties. The Webinar will be held from 1:00 PM to 3:00 PM Eastern time. This two-hour course provides a detailed…

Affordable Housing Credit Improvement Act of 2021 Introduced in Congress

April 18, 2021

A. J. Johnson

Once again, a bill has been introduced in Congress to amend the Low-Income Housing Tax Credit Program. The “Affordable Housing Credit Improvement Act of 2021” (AHCIA) was introduced in the Senate on April 15, 2021, by Senators Maria Cantwell (D-WA),…

A. J. Johnson Partners with Mid-Atlantic AHMA for April Training Series

April 11, 2021

A. J. Johnson

During the month of April 2021, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for two live webinars intended for real estate professionals, particularly those in the affordable multifamily housing field. The following live webinars…

HUD Publishes 2021 Income Limits

April 1, 2021

A. J. Johnson

On April 1, 2021, HUD published the 2021 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 1, 2021. The limits for the LIHTC and…

HCCP Online Exam Now Being Offered By A. J. Johnson Consulting Services

March 6, 2021

A. J. Johnson

Starting on March 8, 2021, A. J. Johnson Consulting Services will be offering the online version of the Housing Credit Certified Professional (HCCP) exam. Unlike the in-person exam, the online exam will be offered on an ongoing basis and need…

Democratic Control of Executive and Legislative Branches Increase Chances for Affordable Housing Initiatives

January 17, 2021

A. J. Johnson

Since Senators-elect Reverend Raphael Warnock and Jon Ossoff won the January 5 Georgia run-off elections, the Senate will be evenly divided between 50 Republicans and 50 Democrats. Vice-President-elect Kamala Harris will decide the outcome of any tied votes through her…

Work Patterns Will Never Be the Same Again – Long Term Planning & Preparation is Key

January 10, 2021

A. J. Johnson

Despite the death grip COVID-19 has had, the global economy is on the threshold of a burst of growth driven by technology. If long-gestating technologies like Artificial Intelligence (AI) and automation fulfill their potential, we’ll have the chance to escape…

New York Passes Comprehensive Anti-Eviction Law

December 29, 2020

A. J. Johnson

The New York State Legislature convened an unusual special session just after Christmas to pass one of the nation’s most comprehensive anti-eviction laws, which will ban landlords from evicting most tenants for at least another 60 days. Some studies show…

Affordable Housing Priorities of the Incoming Biden Administration

November 29, 2020

A. J. Johnson

Elections have consequences. With the election of Joe Biden as President, the consequences for the affordable housing industry are likely to be very positive and will at the least put an end to the ambivalent – and even hostile – …

Updated HUD Guidance on REAC Inspections During the COVID-19 Pandemic

November 21, 2020

A. J. Johnson

On November 13, 2020, HUD issued updated guidance on the inspection of Public and Multifamily Housing projects during COVID-19. This guidance was issued in the form of an updated FAQ. The FAQ is comprehensive but following is some of the…

Senate Staff Issues Report on the State of Affordable Housing

November 8, 2020

A. J. Johnson

In October 2020, the Senate Majority Staff issued a report titled, “Housing Programs – The Need for One Roof.” The purported purpose of the report is to “begin a needed conversation about reforming our housing system.” As noted in the…

IRS Notice of Proposed Rulemaking on Average Income Test

November 1, 2020

A. J. Johnson

On October 30, the IRS published a Notice of Proposed Rulemaking in the Federal Register. This Notice concerns the LIHTC Average Income Test and outlines the current intention of the IRS with regard to certain rules governing the Average Income…

Recent Court Decision Confirms that a Right of First Refusal is Not an Option to Purchase

October 5, 2020

A. J. Johnson

A recent New York court case has affirmed that a non-profit’s Right of First Refusal (“ROFR”) is not an option to purchase a Low-Income Housing Tax Credit (LIHTC) property. The Case Riseboro Community Partnership, Inc., formerly known as Ridgewood Bushwick…

Claiming Credit Without an 8609 – Impact of the Centralized Partnership Audit Regime

September 5, 2020

A. J. Johnson

The Bipartisan Budget Act of 2015 created the Centralized Partnership Audit Regime (CPAR). This created a new process for amending or making changes to certain federal partnership tax returns for effective years beginning after December 31, 2017. As a result,…

Executive Order Does Not Extend Eviction Moratorium

August 16, 2020

A. J. Johnson

I have received a number of questions from clients lately expressing confusion with regard to whether tenants in certain federally assisted properties are still protected from eviction due to non-payment of rent. The CARES Act moratorium on evictions for non-payment…

New HUD Rule Eliminates Fair Housing Act Requirement to Affirmatively Further Fair Housing

August 15, 2020

A. J. Johnson

On Friday, August 7, 2020, HUD announced its new “Preserving Community and Neighborhood Choice” rule (85 Federal Register 47899) – (the “Choice Rule”), repealing the Affirmatively Furthering Fair Housing (AFFH) rule announced by the Obama Administration in 2015, and circumventing…

Affordable Housing Improvements May be Included in Next COVID-19 Legislation

August 1, 2020

A. J. Johnson

While it is been delayed due to a Senate recess, there will be another COVID-19 relief package. Hopefully, it will be passed by Congress by mid-August and based on indications from Congressional staff, may include a number of affordable housing…

Paycheck Protection Program – Largest Banks Have Served the Smallest Businesses

June 15, 2020

A. J. Johnson

The Bank Policy Institute (BPI) has released data from a survey of the nine largest retail banks regarding loan originations from the first two rounds of the Paycheck Protection Program (PPP). It appears that the mega-banks have primarily served the…

Boston and New York Landlords Sue Over COVID-19 Eviction Moratoriums

June 14, 2020

A. J. Johnson

Landlords in New York and Massachusetts have filed legal challenges to eviction moratoriums put into place as a result of the COVID-19 pandemic, arguing that the bans on eviction are unconstitutional. On May 27, 2020, a group of landlords in…

National Report on Affordable Housing Preservation Released

June 7, 2020

A. J. Johnson

A Joint report of the National Low Income Housing Coalition (NLIHC) and the Public and Affordable Housing Research Corporation (PAHRC) on the affordable housing preservation situation and needs in the United States was released in late May. The report focuses…

COVID-19 Takes Disproportionate Toll on Affordable Housing Residents

May 17, 2020

A. J. Johnson

A new survey by the Federal Reserve (FED) shows that 39% of former workers in households earning $40,000 or less lost work during the current pandemic, and many of these households do not have the resources to make it through…

Joe Biden Releases Housing Plan

May 16, 2020

A. J. Johnson

Former Vice President and presumed Democratic Presidential candidate Joe Biden has released a comprehensive housing plan – much of which deals with affordable rental housing, including the Low-Income Housing Tax Credit program. Following are the major elements of the 81-page…

Featured

HUD Provides Clarity on the Granting of HOME Funds to Entities That Then Loan the HOME Funds

Major Affordable Housing Legislation Introduced in the Senate

A. J. Johnson to Host Live Webinar on Verifying and Determining Income for Affordable Housing Applicants and Residents.

Reducing Insurance Premiums – A Key to Improving Property Cash Flow

HUD Proposes Restoring Discriminatory Effects Rule

Supreme Court Leaves CDC Eviction Moratorium in Place

Biden Housing Plan Stresses Housing as Infrastructure

HUD Secretary Announces Increase in REAC Inspections

A. J. Johnson to Host Asset Webinar

Affordable Housing Credit Improvement Act of 2021 Introduced in Congress

A. J. Johnson Partners with Mid-Atlantic AHMA for April Training Series

HUD Publishes 2021 Income Limits

HCCP Online Exam Now Being Offered By A. J. Johnson Consulting Services

Democratic Control of Executive and Legislative Branches Increase Chances for Affordable Housing Initiatives

Work Patterns Will Never Be the Same Again – Long Term Planning & Preparation is Key

New York Passes Comprehensive Anti-Eviction Law

Affordable Housing Priorities of the Incoming Biden Administration

Updated HUD Guidance on REAC Inspections During the COVID-19 Pandemic

Senate Staff Issues Report on the State of Affordable Housing

IRS Notice of Proposed Rulemaking on Average Income Test

Recent Court Decision Confirms that a Right of First Refusal is Not an Option to Purchase

Claiming Credit Without an 8609 – Impact of the Centralized Partnership Audit Regime

Executive Order Does Not Extend Eviction Moratorium

New HUD Rule Eliminates Fair Housing Act Requirement to Affirmatively Further Fair Housing

Affordable Housing Improvements May be Included in Next COVID-19 Legislation

Paycheck Protection Program – Largest Banks Have Served the Smallest Businesses

Boston and New York Landlords Sue Over COVID-19 Eviction Moratoriums

National Report on Affordable Housing Preservation Released

COVID-19 Takes Disproportionate Toll on Affordable Housing Residents

Joe Biden Releases Housing Plan

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