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The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update No. 2014-01. This accounting standards update provides the guideline for the new accounting treatment the board approved in December for investments in qualified affordable housing properties. Many believe this change will increase the flow of capital to affordable housing.

On Dec. 18, HUD released the 2014 income limits, available at huduser.org. According to Revenue Ruling 94-57, you have 45 days to begin using them to certify and recertify low-income households at your tax credit site. This means this year’s income limits must be implemented no later than January 31, 2014. Here are some site management issues affected by changes in income limits.

Building on $2 billion in financing commitments from the private sector for energy-efficiency updates to commercial buildings under the President’s Better Buildings Challenge, HUD recently expanded the challenge to multifamily housing and launched the Better Buildings Accelerators to support state- and local government-led efforts to cut energy waste and eliminate market and technical barriers to greater building efficiency.

Boeing Co. has been courted by various U.S. states to land contracts to build part of the 777X, its first passenger jet of the 2020s, in one of the largest-ever economic development contests. Boeing solicited bids to move manufacturing operations from Washington after its machinists rejected 777X-related concessions to their union contract.

At the beginning of every winter season, many site managers begin to worry about the possibility of being hit with slip-and-fall lawsuits filed by residents or guests. Although it’s inevitable that accidents will occur, management can try to make the site as safe as possible for residents and consequently avoid liability for any slip-and-fall accidents.

The Social Security Administration recently announced the Cost-of-Living Adjustment (COLA) for 2014. COLA is based on a government measure of inflation. And consumer prices haven't gone up much this year.

Since 1975, annual Social Security raises have averaged just over 4 percent. Next year will mark only the seventh time the COLA has been less than 2 percent, including several recent ones. This year's increase was 1.7 percent. There was no COLA in 2010 or...

The Internal Revenue Service (IRS) has published the low-income housing tax credit (LIHTC) and private-activity bond caps for 2014. The amount used to determine each state's LIHTC ceiling will be the greater of $2.30 multiplied by the state population or $2,635,000. This is an increase from this year’s $2.25 multiplied by the population and the small state minimum of $2,590,000.

Wilmington Housing Authority in North Carolina could face consequences for maintenance problems at Creekwood South, according to a state agency that helped finance the community's $16 million overhaul.

The N.C. Housing Finance Agency, which contributed low-income housing tax credits to rehabilitate Creekwood, recently conducted a routine inspection and found some units don't meet standards.

The IRS recently announced that it is waiving certain limitations for projects financed with Low Income Housing Tax or exempt facility bonds so that owners across the United States can provide housing to victims of severe storms, flooding, landslides, and mudslides in Colorado that began Sept. 11, 2013.

HUD recently published final fair market rents (FMRs) for HUD fiscal year (FY) 2014. In general, the FMR for an area is an amount that would be needed to pay the rent and utilities of a privately owned, decent, and safe rental housing unit of a modest nature with suitable amenities. HUD is required to publish the FMRs at least annually to be effective on Oct. 1 of each year.