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Opportunity Zones and the Low-Income Housing Tax Credit

June 10, 2019

The Opportunity Zone (OZ) Program was created as part of the Investing in Opportunity Act, which was included in the Tax Cuts and Jobs Act enacted in December 2017. While this law did not have a significant impact on job…

New HUD Income Exclusion – ABLE Accounts

May 18, 2019

A. J. Johnson

On May 6, 2019, HUD published Notice H-2019-06 and Notice PIH 2019-09, Treatment of ABLE Accounts in HUD-Assisted Programs. Background The Achieving Better Life Experience (ABLE) Act was signed into law on December 19, 2014. The ABLE Act allows states…

Non-Profit Right of First Refusal on Section 42 Project – Relevant Court Case

May 11, 2019

A. J. Johnson

Many nonprofit organizations participate in the development of Section 42 Low-Income Housing Tax Credit (LIHTC) properties on the condition that the nonprofit has a right of first refusal to purchase the project at the end of the Section 42 compliance…

HUD Publishes 2019 Income Limits

April 24, 2019

A. J. Johnson

On April 24, 2019, HUD published the 2019 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 24, 2019. The limits for the LIHTC and…

GAO Recommends Improvements to REAC – March 2019

April 7, 2019

A. J. Johnson

At the end of March 2019, the Government Accountability Office (GAO) issued a report titled, “REAL ESTATE ASSESSMENT CENTER – HUD Should Improve Physical Inspection Process and Oversight of Inspectors.” The 2017 Consolidated Appropriations Act, Joint Explanatory Statement,…

Firearms – Can They be Banned in Apartment Communities?

April 2, 2019

A. J. Johnson

In my role as a consultant, I have been asked a number of times whether or not guns can be banned at apartment communities. The answer may well depend on the state in which the community is located, but…

Proposed HCV Mobility Demonstration Act – March 2019

March 31, 2019

A. J. Johnson

The Housing Choice Voucher Mobility Demonstration Act was introduced in the House of Representatives on February 8, 2019 as H.R. 1122 by Rep. Emanuel Cleaver (D – MO) and in the Senate on January 31, 2019 as S.291 by Sen.…

Quiet Enjoyment – A Lease Concept that Managers Must Understand

March 30, 2019

A. J. Johnson

Landlords are required to ensure that all residents have “quiet use and enjoyment” of their apartment. For this reason, owners must deal with any resident who disrupts the “livability” of the property. Owners can ensure that this responsibility is met…

Opportunity Zones – How Tax Breaks for the Wealthy May Benefit the Less Well-Off

February 25, 2019

A. J. Johnson

“Doing well while doing good” has long been a mantra of the wealthy looking for ways to preserve their wealth while doing something worthwhile for the less fortunate. The newest investment opportunity giving them a chance to do so…

The Family Self-Sufficiency (FSS) Program – A Tool for Section 8 Owners

February 16, 2019

A. J. Johnson

The Family Self-Sufficiency (FSS) Program was authorized by Congress in 1990 and is administered by the Department of Housing & Urban Development (HUD). FSS helps low-income families get out of poverty by combining financial education and coaching with savings incentives.…

HUD Resumption of Multifamily Production and Asset Management Activities

February 3, 2019

A. J. Johnson

The HUD Office of Multifamily Housing (MFH) issued two memorandums on February 1, 2019 outlining the departments plan for prioritizing the backlog of work from the shutdown. One memo deals with the resumption of multifamily production activities and the other…

Affordable Senior Housing – Demand Exceeds Supply

February 2, 2019

A. J. Johnson

The Harvard Joint Center for Housing Studies recently published Housing America’s Older Adults 2018. A highlight of the report is that over half of U.S. households are now headed by someone age 50 or older. This indicates that the living…

Affirmative Fair Housing Marketing Requirements for HOME Properties

January 26, 2019

A. J. Johnson

The HOME final rule (24 CFR 92.351[a]) requires Participating Jurisdictions (PJs) and state recipients to develop, adopt, and follow written affirmative marketing procedures and requirements for rental and homebuyer projects containing five or more HOME-assisted units, regardless of the specific…

Homeownership Options for the Low-Income Housing Tax Credit Program

January 15, 2019

A. J. Johnson

It is not unusual to see Extended Use Agreements (EUAs) for Low-Income Housing Tax Credit (LIHTC) properties with a provision requiring a homeownership option for residents at the end of the 15-year tax credit compliance period. In many cases, developers…

Dealing with “Zero Income” Households

November 18, 2018

A. J. Johnson

While “zero income” households are rare on Low-Income Housing Tax Credit properties (since there is no rental assistance, income is required in order to pay the rent), such households are not uncommon on Section 8 properties or developments with Rural…

IRS 2018-2019 Priority Guidance Plan

November 10, 2018

A. J. Johnson

On November 8, 2018, the IRS released a Priority Guidance Plan for the period July 1, 2018 – June 30, 2019. This plan outlines the areas that the IRS intends to provide formal guidance on for the rest of…

2019 Social Security COLA

October 12, 2018

A. J. Johnson

The federal government announced on October 11, 2018 that the Social Security Cost of Live Adjustment (COLA) for 2019 will be 2.8%. This is the largest cost-of-living adjustment since 2012. The average SS check is $1,422 a month, meaning next…

Difference Between SSI and SSD

September 23, 2018

A. J. Johnson

I recently received an email from a client who indicated that their corporate Section 8 department refused to accept a verification of Supplemental Security Income (SSI) for a person under age 65 as a verification of disability. The Section 8…

Premises Liability – When Property Owners are at Risk

August 25, 2018

A. J. Johnson

One of the least understood risks that owners of multifamily properties face is the risk related to someone being injured due to a violent crime at their property. This short article is intended to provide a general overview of “premises…

Opportunity Zones Present New Development Opportunities

July 28, 2018

A. J. Johnson

The Tax Cuts & Jobs Act of 2017 created something called “Opportunity Zones.” This is a brand new section of the federal tax code. An Opportunity Zone or “OZ” is an economically-distressed community where new investments may be eligible for…

Administration Proposing Significant Government Reorganization – Impact on Housing Programs

July 2, 2018

A. J. Johnson

The administration recently released Delivering Government Solutions in the 21st Century: Reform Plan and Reorganization Recommendation. This series of recommendations would reorganize how the federal government works and includes a number of revisions that would impact the affordable housing community.…

Additional Guidance on the Income Average Test

April 13, 2018

A. J. Johnson

In order to meet the minimum set-aside, if owners select the new Income Average test, at least 40% of the units in the project must have rents and incomes at the various designated unit income limits selected by the owner…

HUD Publishes 2018 Income Limits

March 31, 2018

A. J. Johnson

On March 30, 2018, HUD published the 2018 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, 2018. The limits for the LIHTC and…

Congressional Spending Bill Keeps Funding for Many Housing Programs

March 23, 2018

A. J. Johnson

Congress has approved a $1.3 trillion spending bill designed to provide funding for the federal government for the rest of the fiscal year, which ends September 30. The bill has been sent to the President’s desk for signature (although he…

FAST Act Interim Final Rule Effective March 12, 2018

March 15, 2018

A. J. Johnson

On December 12, 2017, HUD published an interim final rule in the Federal Register that amends the regulatory language for Public & Indian Housing PIH) and Multifamily Housing rental assistance programs. This interim rule went into effect on March 12,…

The Importance of Internal Controls

February 24, 2018

A. J. Johnson

All executives are taught the importance of “internal controls.” Unfortunately, many executives don’t fully understand what is meant by the term “internal controls.” A recent HUD audit of a Section 8 project in Port Arthur, TX serves as a reminder…

Independent Contractor or Employee – How to Tell the Difference

January 17, 2018

A. J. Johnson

Affordable housing property managers are required to verify the income of applicants and residents in order to determine both eligibility and (for some programs) rent. The most common type of income requiring verification is employment income and the most common…

Self-Employed Individuals in Affordable Housing Properties

January 14, 2018

A. J. Johnson

One of the most difficult type of income to determine for managers of affordable housing rental properties (e.g. Section 8 or Low-Income Housing Tax Credit [LIHTC]) is self-employment income. Based on the number of issues we see when reviewing the…

NCSHA Publishes 2017 Recommended Best Practices

January 5, 2018

A. J. Johnson

The National Council of State Housing Agencies (NCSHA) has updated its Recommended Practices in Housing Credit Administration for voluntary adoption by Housing Credit Agencies. The organizations first recommended practices were published in 1993, and included recommendations relative to allocation and…

HUD Delays Fair Housing Affirmative Action Rule

January 5, 2018

A. J. Johnson

In what is almost certainly the first step in elimination of the requirement that localities take proactive steps to affirmatively further fair housing, HUD is extending the deadline for submission of assessment of fair housing for Consolidated Plan Participants. This…

Information for Your Business

Opportunity Zones and the Low-Income Housing Tax Credit

New HUD Income Exclusion – ABLE Accounts

Non-Profit Right of First Refusal on Section 42 Project – Relevant Court Case

HUD Publishes 2019 Income Limits

GAO Recommends Improvements to REAC – March 2019

Firearms – Can They be Banned in Apartment Communities?

Proposed HCV Mobility Demonstration Act – March 2019

Quiet Enjoyment – A Lease Concept that Managers Must Understand

Opportunity Zones – How Tax Breaks for the Wealthy May Benefit the Less Well-Off

The Family Self-Sufficiency (FSS) Program – A Tool for Section 8 Owners

HUD Resumption of Multifamily Production and Asset Management Activities

Affordable Senior Housing – Demand Exceeds Supply

Affirmative Fair Housing Marketing Requirements for HOME Properties

Homeownership Options for the Low-Income Housing Tax Credit Program

Dealing with “Zero Income” Households

IRS 2018-2019 Priority Guidance Plan

2019 Social Security COLA

Difference Between SSI and SSD

Premises Liability – When Property Owners are at Risk

Opportunity Zones Present New Development Opportunities

Administration Proposing Significant Government Reorganization – Impact on Housing Programs

Additional Guidance on the Income Average Test

HUD Publishes 2018 Income Limits

Congressional Spending Bill Keeps Funding for Many Housing Programs

FAST Act Interim Final Rule Effective March 12, 2018

The Importance of Internal Controls

Independent Contractor or Employee – How to Tell the Difference

Self-Employed Individuals in Affordable Housing Properties

NCSHA Publishes 2017 Recommended Best Practices

HUD Delays Fair Housing Affirmative Action Rule

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