HUD is seeking input from state agencies and other interested stakeholders on the method and approach it uses to gather low-income housing tax credit tenant collection data. Last year, the House and Economic Recovery Act of 2008 required state agencies administering properties receiving LIHTCs to begin furnishing HUD—at least on an annual basis—with information concerning […]
You have an applicant at your tax credit housing site with income from a job that is above the tax credit limits. However, she is several months pregnant and plans on taking maternity leave, although she has not set a date or informed her employer. If you deduct the income from her three months of […]
The Alabama Association of Housing and Redevelopment Authorities (AAHRA) is hoping to crack down on the unwanted presence of drug dealers and those engaging in criminal activity at many of its public housing sites. The 150-member association of housing authorities in that state issued a revised “Criminal Trespass Policy” this February. The goal of the […]
Since instituting more stringent quality controls in 2008, the Housing Authority of the City of Pittsburgh (HACP) has removed more than 300 properties from its Housing Choice Voucher Program (formerly Section 8) as a result of failed Housing Quality Standards (HQS) inspections. At the beginning of 2008, the HACP initiated an agency-wide effort to improve […]
To help ward off potential compliance problems, store original tax credit household files in a secure, waterproof, and fireproof location. Protect household files as you would other valuable property, because if the files are lost or damaged, the owner’s tax credits are on the line. Although it is also good management practice to make two […]
The tax credit program’s vacant unit rule allows you to claim credits for tax credit units even if they are unoccupied. But there is a steep price to pay if you do not handle vacant units properly. At a mixed-income site, one false move by your rental staff in handling vacant units can lead to […]
A site owner rehabilitating an historical building may be doing it with the goal of turning it into a multifamily affordable housing site. As a result, the owner can qualify for both the Rehabilitation Tax Credit and the Low-Income Housing Tax Credit. The low-income housing tax credit, which is available under section 42 of the […]
As a reminder this tax season, the Internal Revenue Service (IRS) has made some changes to Form 8586 and Form 3800. According to Grace Robertson at the IRS, the changes reflect an amendment made to the Housing Assistance Tax Act of 2008, which allows IRC Section 42 credit against Alternative Minimum Tax (AMT) if the […]
The use of Energy Star equipment and techniques, and proper maintenance, can help to lower energy costs at public housing projects. And, a recent notice (PIH 2009-9 (HA)), issued by the U.S. Department of Housing and Urban Development (HUD), is encouraging use of Energy Star products by Public Housing Agencies (PHAs). Nationwide, for PHA fiscal […]
The Arizona Public Housing Authority (APHA) has issued some guidelines for Section 8 owner/agents who are submitting special claims for reimbursement of damages made by tenants. According to the Special Claims Guidebook, Appendix 5C: “Normal costs of turning over an apartment after a tenant vacates may not be included on a claim to HUD for […]
