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Minimum Wage Increases Will Occur in 27 States in 2023

December 30, 2022

In 2023, 27 states will have new minimum wage rates. The federal minimum wage remains unchanged at $7.25 and applies in 20 states. It was last raised on July 24, 2009. Affordable housing managers responsible for determining the income of…

A. J. Johnson Partners with Colorado Housing & Finance Authority to Provide Layered Program Training

December 29, 2022

A. J. Johnson

A.J. Johnson will be presenting Keys to Successful Operation of Layered Projects (Making Deals Work with Multiple Funding Sources) on January 25, 2023, at 11:00 AM (EST). This class will be offered through Colorado Housing and Finance Authority’s chfareach educational programming for…

HUD Offers Additional COVID-19 Supplemental Payments to Multifamily Owners

December 23, 2022

A. J. Johnson

On October 31, 2022, HUD issued Notice H 2022-06, “Continued Availability of Funds for COVID-19 Supplemental Payments for Properties Receiving Project-Based Rental Assistance Under the Section 8, Section 202, or Section 811 Programs.” This permits owners of affected properties to…

The Growing Challenge to Affordable Housing for Seniors

December 12, 2022

A. J. Johnson

There is strong demand for affordable multi-family housing for seniors. One of the programs best suited to meet this need is the Low-Income Housing Tax Credit (LIHTC). However, with the aging of the baby boomers, more seniors are reaching the…

2023 Income Limits Will Be Delayed

December 3, 2022

A. J. Johnson

The U.S. Department of Housing & Urban Development (HUD) normally publishes annual income limits in early April of each year. However, complications with calculating the limits due to COVID-19 will cause a delay in the release of the limits in…

Rural Development Suspends Interim Recertification Requirements for COLA Recipients

November 28, 2022

A. J. Johnson

On November 10, 2022, the Rural Development Service released an Unnumbered Letter granting a temporary exception to tenant recertification requirements. On October 13, 2022, the Social Security Administration announced there will be an 8.7% increase in Social Security and Supplemental…

A. J. Johnson to Offer Last Fair Housing Training of 2022

November 14, 2022

A. J. Johnson

A. J. Johnson will be conducting a webinar on December 28, 2022, on Compliance with Federal & State Fair Housing Requirements. This is A.J.’s last Fair Housing training of 2022 and is a must for individuals required to take fair…

Average Income Final Regulation – Unit Designation Requirements

November 11, 2022

A. J. Johnson

This is the third in my series of articles on the new Average Income Regulation. In this article, I will review the requirements relating to the designation of units. Designation of Imputed Income Limitations and Identification of Units The final…

A. J. Johnson Partners with Mid-Atlantic AHMA for December Training on Affordable Housing

November 8, 2022

A. J. Johnson

During the month of December 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for two in-person training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. Following the in-person…

DC Voucher Discrimination Results in Record Penalty

October 30, 2022

A. J. Johnson

The District of Columbia entered into a consent agreement on October 15, 2022, requiring three real estate firms (Daro Realty, LLC, Daro Management Services, and Infinity Real Estate, LLC) and firm executives to pay a record $10 million in penalties…

Court Rules That Acceptance of Voucher May be Reasonable Accommodation

October 22, 2022

A. J. Johnson

In Arnold v. Elmington Property Management, LLC, the U.S. District Court for the Northern District of Alabama ruled that a landlord should grant as a reasonable accommodation its acceptance of Section 8 Housing Choice Vouchers submitted by a tenant as…

IRS Provides Unexpected Extension of COVID Relief

October 15, 2022

A. J. Johnson

The IRS has published Notice 2022-52, providing unexpected extensions to HFAs and LIHTC properties due to the COVID pandemic. The relief has been granted due to unavoidable labor and supply-chain disruptions delaying the construction, rehabilitation, and restoration of properties throughout…

Significant Improvements in Final Average Income Regulation

October 14, 2022

A. J. Johnson

The IRS released final and temporary regulations on the Low-Income Housing Tax Credit Average Income Test Regulations on October 7, 2022. The regulation is now in effect. In general, these substantive final regulations provide significant flexibility with respect to satisfying…

Social Security COLA – 2023

October 13, 2022

A. J. Johnson

The federal government announced on October 13, 2022, that the Social Security Cost of Live Adjustment (COLA) for 2023 will be 8.7%, which is the largest increase since 1981. This increase will provide an additional $146 per month for the…

Social Security COLA is Expected to be Announced on October 12 or 13.

October 11, 2022

A. J. Johnson

The annual Cost of Living Adjustment (COLA) for Social Security should be announced no later than October 13 and based on the inflation rate to date, may be as high as 8.7%. It’s likely to be the biggest since 1981,…

A. J. Johnson Joins Mid-Atlantic AHMA for Fall Conference on Affordable Housing

October 11, 2022

A. J. Johnson

A. J. Johnson will be participating in the Mid-Atlantic Affordable Housing Management Association Fall Conference on Affordable Housing in November 2022. The Conference will be held from November 15-17, 2022 at the Doubletree Hotel/Midlothian-Richmond in Richmond, VA. The conference will…

IRS Issues Final Average Income Regulation

October 8, 2022

A. J. Johnson

On October 7, 2022, the IRS published final and temporary regulations on the average income set aside for the LIHTC program. A quick review of the regulation indicates that the “cliff test” has been eliminated and owners will have more…

A. J. Johnson Partners with CHFA on Live Webinar – What Happens After an 8823 is Issued?

October 3, 2022

A. J. Johnson

A.J. Johnson will be presenting 8823s – What Happens After They Are Sent to the IRS on October 20, 2022, at 11:00 AM (EST). This class will be offered through Colorado Housing and Finance Authority’s chfareach educational programming for affordable housing property…

A. J. Johnson Partners with Enterprise to Provide LIHTC Training and HCCP Exam

October 1, 2022

A. J. Johnson

On November 1, 2, and 3, A. J. Johnson will be partnering with Enterprise Community Partners for in-person training intended for real estate professionals, particularly those in the affordable multifamily housing field. Following the in-person training sessions, AJ will be…

HUD Finalizes New MOR Scheduling Protocol

September 24, 2022

A. J. Johnson

Section 8 properties are subject to audits and inspections known as Management & Occupancy Reviews (MORs). HUD has recently introduced a new risk-based management and occupancy review schedule. The new schedule is designed to streamline and reduce the number of…

A. J. Johnson to Host Live Webinar on Interviewing Skills for Affordable Housing Managers

September 19, 2022

A. J. Johnson

A. J. Johnson will be conducting a webinar on September 29, 2022, on Interviewing Skills for Affordable Housing Managers. The Webinar will be held from 1:00 PM to 4:00 PM Eastern time. One of the most important skills any affordable…

IRS Final Regulation on Average Income Set-Aside Nearing Release

September 18, 2022

A. J. Johnson

The IRS has sent final regulations relating to the Average Income (AI) test to the U.S. Office of Management & Budget for review. The final regulations were received by OMB on September 12, 2022. This is the final step before…

A. J. Johnson Partners with Mid-Atlantic AHMA for October Training on Affordable Housing

September 17, 2022

A. J. Johnson

During the month of October 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for two live webinar training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. The following…

HUD Allows for Increase in Distribution of Surplus Cash for Insured Properties

September 10, 2022

A. J. Johnson

The Department of Housing & Urban Development (HUD) issued Mortgagee Letter 2022-16 on September 7, 2022, allowing for an increase in the frequency of the distribution of surplus cash for Non-Assisted HUD Insured properties. Surplus Cash Distributions from insured multifamily…

A. J. Johnson to Offer Live Webinar on Interviewing Skills for Affordable Housing Managers

August 29, 2022

A. J. Johnson

Reminder – HUD to Enforce Carbon Monoxide Protections in HUD-Assisted Projects

August 20, 2022

A. J. Johnson

In February of this year, I posted an article on the HUD Notice H-2022-10, which clarified federal requirements for carbon monoxide (CO) alarms and detectors. CO is a byproduct of fuel-fired combustion appliances such as furnaces and water heaters. If…

State & Local Fiscal Recovery Funds – A Source of Gap Funding for LIHTC Properties

August 13, 2022

A. J. Johnson

The Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program, a part of the American Rescue Plan, delivers $350 billion to state, local, and Tribal governments across the country to support their response to and recovery from the COVID-19 pandemic.…

A. J. Johnson Partners with Mid-Atlantic AHMA for September Training on Affordable Housing

August 11, 2022

A. J. Johnson

During the month of September 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for three live webinar training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. The following…

A. J. Johnson to Host Live Webinar on End of Year LIHTC Compliance Requirements

August 8, 2022

A. J. Johnson

A. J. Johnson will be conducting a webinar on September 8, 2022, on Ensuring Section 42 Compliance on December 31. The Webinar will be held from 1:00 PM to 2:30 PM Eastern time. Experienced LIHTC managers and compliance professionals all…

Freddie Mac Publishes Study of Risk of Affordable Housing Loss Due to Expiring LIHTC Extended Use

July 31, 2022

A. J. Johnson

Freddie Mac (the Federal Home Loan Mortgage Corporation) has released a study titled “Risk and Impact of LIHTC Properties Exiting the Program: Examining the Risks of Expiring LIHTC Restrictions and the Outcomes of Properties that Exit.” As market rents continue…

Information for Your Business

Minimum Wage Increases Will Occur in 27 States in 2023

A. J. Johnson Partners with Colorado Housing & Finance Authority to Provide Layered Program Training

HUD Offers Additional COVID-19 Supplemental Payments to Multifamily Owners

The Growing Challenge to Affordable Housing for Seniors

2023 Income Limits Will Be Delayed

Rural Development Suspends Interim Recertification Requirements for COLA Recipients

A. J. Johnson to Offer Last Fair Housing Training of 2022

Average Income Final Regulation – Unit Designation Requirements

A. J. Johnson Partners with Mid-Atlantic AHMA for December Training on Affordable Housing

DC Voucher Discrimination Results in Record Penalty

Court Rules That Acceptance of Voucher May be Reasonable Accommodation

IRS Provides Unexpected Extension of COVID Relief

Significant Improvements in Final Average Income Regulation

Social Security COLA – 2023

Social Security COLA is Expected to be Announced on October 12 or 13.

A. J. Johnson Joins Mid-Atlantic AHMA for Fall Conference on Affordable Housing

IRS Issues Final Average Income Regulation

A. J. Johnson Partners with CHFA on Live Webinar – What Happens After an 8823 is Issued?

A. J. Johnson Partners with Enterprise to Provide LIHTC Training and HCCP Exam

HUD Finalizes New MOR Scheduling Protocol

A. J. Johnson to Host Live Webinar on Interviewing Skills for Affordable Housing Managers

IRS Final Regulation on Average Income Set-Aside Nearing Release

A. J. Johnson Partners with Mid-Atlantic AHMA for October Training on Affordable Housing

HUD Allows for Increase in Distribution of Surplus Cash for Insured Properties

A. J. Johnson to Offer Live Webinar on Interviewing Skills for Affordable Housing Managers

Reminder – HUD to Enforce Carbon Monoxide Protections in HUD-Assisted Projects

State & Local Fiscal Recovery Funds – A Source of Gap Funding for LIHTC Properties

A. J. Johnson Partners with Mid-Atlantic AHMA for September Training on Affordable Housing

A. J. Johnson to Host Live Webinar on End of Year LIHTC Compliance Requirements

Freddie Mac Publishes Study of Risk of Affordable Housing Loss Due to Expiring LIHTC Extended Use

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