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The California Department of Housing and Community Development, the California Tax Credit Allocation Committee, the California Housing Finance Agency, and the California Debt Limit Allocation Committee recently released a year-long cost study measuring the factors that influence the cost of building affordable rental housing in California.
On Oct. 2, the Supreme Court announced its decision to take up the Texas Department of Housing and Community Affairs (TDHCA) v. Inclusive Communities Project case, which focuses on whether TDHCA violated the Fair Housing Act by disproportionately awarding Housing Credits to developers building properties in areas with high minority concentrations.
HUD recently released a notice in the Federal Register announcing guidelines for Housing Credit Agencies (HCAs) to follow in implementing subsidy layering reviews in accordance with the Housing and Economic Recovery Act of 2008 (HERA). The notice sets forth the guidelines for conducting subsidy layering reviews for mixed-finance public housing projects and for newly constructed and rehabilitated structures combining other forms of government assistance with Section 8 project-based voucher assistance.
Some managers have tried to use the same household to qualify more than one unit as low income. It’s true that leasing up enough units to meet the set-aside on time can be stressful. But this seemingly time-saving strategy will only lead to noncompliance. If you need to transfer a low-income household shortly after move-in, just follow the unit transfer rule to determine the status of the new and old units. Under that rule, if you move a household to another unit in the same building at your site, the two units swap status.
The Joint Center for Housing Studies of Harvard University (JCHS) recently released a report entitled "Housing America’s Older Adults: Meeting the Needs of an Aging Population." The report cites housing cost burden, a lack of basic accessibility features in the current housing stock, isolation due to lack of transportation infrastructure, and disconnects between housing and health care as areas of concern. It concludes that the U.S.
A lawsuit was recently filed alleging that the U.S. Department of Treasury and Office of the Comptroller of the Currency (OCC) perpetuated racial segregation in the City of Dallas in their administration of the LIHTC program. The lawsuit, filed by a group that assists low-income families eligible for Section 8 vouchers, claims that the agencies’ conduct violated their duty to affirmatively further fair housing under the Fair Housing Act.
Q: Tax credit sites that are not Rural Housing Services-assisted or HUD-regulated can use which of the following methods for estimating tenant utility costs?
a. Public Housing Authority (PHA) Estimate
b. Local Utility Company Estimate
c. Agency Estimate based on Similar Building/Actual Consumption
On July 24, 2014, Rep. Pete Gallego, D-Texas, introduced legislation in the House of Representatives that would amend Section 42 of the Internal Revenue Code to provide for an appeals process for HUD Qualified Census Tract (QCT) and Difficult Development Area (DDA) designations.
Bipartisan legislation recently introduced by Sen. Rob Portman, R-Ohio, and Al Franken, D-Minn., would amend a law that prevents some college students from qualifying for affordable housing. The Housing for Homeless Students Act of 2014 would allow full-time students who experience or have recently experienced homelessness to become eligible—or retain eligibility—for LIHTC housing.
The proposed law would tweak a provision of the LIHTC program that makes full-time college students ineligible for affordable housing units that were developed under the program.
The MacArthur Foundation recently committed $25 million to support and expand innovative energy efficiency financing programs specifically designed to meet the challenges and needs of multifamily housing in the United States. The foundation's investments are intended to reduce significantly carbon footprints for some of the country’s least energy-efficient buildings and make housing more affordable for low-income families, seniors, and individuals with special needs, such as veterans and the formerly homeless.
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