Today HUD published a revised notice “Continued Availability of Funds for COVID-19 Supplemental Payments for Properties Receiving Project-Based Rental Assistance under the Section 8, Section 202, or Section 811 Programs.” This notice allows for property owners to apply for funding to offset and reimburse expenditures made to combat COVID-19. With recent updates, these expenses can […]
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HUD Publishes 2021 Income Limits
On April 1, 2021, HUD published the income limits for HUD programs and the MTSP limits for the Low-income Housing Tax Credit and Tax-Exempt programs. These new income limits are effective as of April 1, 2021. HUD Programs These new HUD Income Limits apply to all HUD-assisted housing programs. To access the new income limits, […]
Read MoreHUD Publishes New Prohibition of Sex & Gender Identity Discrimination
HUD’s Office of Fair Housing and Equal Opportunity (FHEO) prohibition on discrimination based on sexual orientation and gender identity On February 11, 2021, HUD announced in a memo that the HUD FHEO office will administer and fully enforce the Fair Housing Act to prohibit discrimination because of sexual orientation and gender identity. This memo was […]
Read MoreHUD Publishes Updated COVID-19 Q&A 01-04-21
On January 4, 2021, HUD published an update to the HUD Multifamily Housing COVID-19 Q&A. Many of the updates made to existing answers were to extend the expiration date of certain relief provisions from December 31, 2020, to May 31, 2021. Other updates addressed using common areas of assisted properties to provide vaccines, the financial […]
Read MoreHUD Updates Guidance on Electronic Signatures and File Storage
On November 6, 2020, HUD published Notice H 2020-10. In this notice, HUD provides clarification to the Electronic Signatures and Electronic File Storage guidance previously published on May 26, 2020, Notice H 2020-04. You can read my article about the original notice from June 1, 2020, by clicking here. Notice H 2020-4 permits IPAs (Independent Public […]
Read MoreIRS Publishes Proposed Regulations for the Average Income Minimum Set Aside Election
On Friday, October 30th, the IRS published proposed regulations related to the Average Income Minimum Set Aside Test under the LIHTC Program. The IRS is proposing changes (click here to read full proposed regulation) to Treasury Regulation 1.42-15, which speaks to the Next Available Unit Rule, and is proposing anew Treasury Regulation, 1.42-19, which speaks […]
Read MoreSSA Announces 2021 Cost of Living Increase
On 10/13/20, the Social Security Administration (SSA) announced a 1.3% Cost of Living Adjustment (COLA), increasing the benefit amount for recipients beginning January of 2021. As the SSA has published this information, it is considered “verifiable,” and the COLA may need to be included when determining annual income. LIHTC, RD, and HOME For LIHTC, RD, […]
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