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Q How do I verify student status of an international student who attends school full time but receives zero credits? Schools generally confirm student status by the number of credit hours taken, so it is possible that the college may verify a student’s status as part time. Should I consider these students full time or part time?
Q As the manager of several tax credit sites, I’ve been asked to lead an effort to create an environmental sustainability plan for one of our sites, as a pilot plan for our portfolio of sites. I’ve heard of these plans, but don’t know much about them. What is a sustainability plan, what information should I put in the plan, and are there any specific LIHTC requirements for these plans?
Q When certifying households, must we always treat minors as dependents?
A No. Generally, you must treat household members who are minors (under 18 years old) as dependents. But if a household member is an “emancipated minor,” meaning that she’s under 18 years old and enters into a lease under state law and lives in a household as the head,...
Q My community room is part of the building’s basis for tax credit calculation purposes, meaning that the owner counts it as part of the property for which the state has awarded tax credits. Residents have asked me to permit a local hairdresser to use the community room once a week to provide beauty services to residents, and the hairdresser has asked me to wall off a section of the community room for this purp...
Q I’m leasing up a brand-new, 80 percent tax credit building—that is, eight of my 10 units must be rented to qualified low-income households. My marketing brought in nine qualified low-income households. If I rent to nine qualified low-income households instead of eight, can the owners claim more tax credits?
Q:We have a single disabled veteran who moved into one of our 100 percent tax credit units in 2012. This resident holds a HUD-VASH (Veterans Affairs Supportive Housing) Voucher and at the request of the VA may be returning to school and becoming a full-time student. We learned this during a conversation with him regarding his upcoming recertification. Can he still be eligible for the tax credit program?
QAt our “100 percent” site, all the units are low-income units rented to households that are either 50 percent or 60 percent below area median income (AMI). Upon recertification it was discovered that a resident who initially qualified at 50 percent AMI is now over-income. Can we transfer that resident to a 60 percent unit, increase his rent with proper notice, and thereby free up the 50 percent unit for...
Q: One of our tax credit units became vacant early last year. We advertised regularly in the newspaper and on the Internet and posted flyers at local shopping centers. But all the prospective households were ineligible. We’ve finally succeeded in renting the unit to a qualified low-income household. Will the fact that it took us nearly a year to rent the unit threaten the owner’s tax credits?
Q One of our low-income applicants is a divorced mother who has joint custody of her two children. The applicant says that, under the joint custody agreement, her children would live with her in the unit most of the time. If we accept this applicant at our site, should we count her children as household members?
Q According to my state agency's occupancy rules, I'm not allowed to rent a two-bedroom unit to one person. A single applicant has a 40-year-old blind son who lives in an intermediate care facility. The applicant wants the son to stay with her for three to four days a week, and therefore wants to rent a two-bedroom unit. The disabled son's income is Social Security disability payments, which go directly to the care...
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