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The Department of Health and Human Services (HHS) recently published the 2016 poverty guidelines in the Federal Register (81 FR 4036) for the 48 contiguous states, the District of Columbia, Alaska, and Hawaii. These figures are the last component HUD needs to release its fiscal year 2016 income limits.
The Corporation for Supportive Housing (CSH) recently released its annual report, Housing Credit Policies in 2015 that Promote Supportive Housing, which finds that "virtually every Housing Credit agency fosters some form of supportive housing development through its Housing Credit program." The report notes that in 2015, 19 Housing Credit allocating agencies added new or significantly enhanced existing policies that promote supportive housing development.
According to a new study commissioned by CohnReznick LLP, the LIHTC program, which reached its 30th anniversary in 2016, has consistently delivered strong results for tax credit housing investors. The study, entitled “The Low-Income Housing Tax Credit at Year 30: Recent Investment Performance (2013-2014),” is the fourth survey covering sites benefiting from the housing credit.
The IRS recently released a notice inviting public comments on Form 8586, Low-Income Housing Tax Credit. IRS Code Section 42 permits owners of sites providing low-income housing to claim a tax credit for part of the cost of constructing or rehabilitating such low-income housing.
Novogradac & Company LLP recently released a report on the beneficial effects of the LIHTC program. The report explains how LIHTC works and who lives in the affordable rental homes financed by the credit. The report also describes various types of LIHTC sites and looks at the credit from the perspective of residents, state housing agencies, developers, investors, and syndicators. The report also provides summary data to illustrate LIHTC’s impact over its 30-year lifetime:
Q: Your site allows pets, except for pit bulls and certain other dog breeds that your site owner considers to be dangerous. Despite the policy, must you consider a reasonable accommodation request from an applicant who says she’s disabled and needs her pit bull as an assistance animal?
Just a few weeks before lawmakers head home for the holidays, Congress is trying to reauthorize a package of tax provisions. Among the negotiations are many of the tax credits and reductions that individuals and businesses can rely on during the coming tax season in April. Known as “tax extenders” in Washington, these provisions make up a group of about 50 tax reductions and tax breaks that expire every year.
CBRE Group Inc., a commercial real estate services company, recently announced that it has acquired Seattle-based Tax Credit Group, a leading real estate brokerage firm focused on low-income housing tax credit assets. The Tax Credit Group (TCG), which helps clients invest in affordable housing projects will now be called CBRE Affordable Housing. It has listed and closed more than $7.9 billion in low-income housing tax credit real estate since it was founded in 2001.
According to the National Multifamily Housing Council’s 2015 Apartment Resident Preferences Survey, in addition to a convenient location, renters desire fast Internet access. With a growing demand for such a service, the House Commerce Subcommittee of the House Energy and Commerce Committee recently unanimously passed two bipartisan pieces of legislation aimed at increasing high-speed Internet access across the country.
HUD recently issued a proposed rule that would formalize standards for harassment cases under federal fair housing law in both private and publicly assisted housing. Although no formal regulation has been in place, HUD and courts have long held that fair housing law prohibits harassment in housing on the basis of race, color, national origin, religion, sex, disability, and familial status.
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