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HUD Provides Outline of a Return to MORs

On June 23, 2020, HUD released a memorandum titled “Status of Management and Occupancy Reviews performed by PBCAs,” which provides an outline to the resumption of Management and Occupancy Reviews (MORs) of Multifamily HUD Properties.  This memorandum is a supplemental addition to the HUD memo dated 5/22/2020, which generally lifted the suspension of MORs, subject […]

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04.01.2020
Amanda Gross | HUD and Tax Credit Compliance

HUD Publishes 2020 Income Limits

On March 31, 2020, 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, 2020. These new HUD Income Limits apply to all HUD-assisted housing programs. To access the new income limits, you can […]

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03.18.2020
Amanda Gross | HUD and Tax Credit Compliance

HUD Publishes Additional Guidance on COVID-19

On March 16, 2020, HUD published another updated COVID-19 Q&A for HUD Multifamily professionals. This is the third update to the Q&A, as HUD continues to address the mounting concerns of property management professionals who are concerned for the safety of site staff and, most importantly, the safety of their residents. Much of the Q&A […]

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02.06.2020
Amanda Gross | HUD and Tax Credit Compliance

HUD’s New HOTMA Changes Clarified

HUD Publishes a Proposed Rule Implementing HOTMA HUD published a proposed rule implementing the provision of the Housing Opportunity Through Modernization Act (HOTMA), which was signed into law in 2016. The proposed rule contains massive changes to the requirements applicable to determining tenant eligibility and tenant rent for HUD Multi-family housing. HUD Programs Affected Impact on […]

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02.06.2020
Amanda Gross | HUD and Tax Credit Compliance

New IRS Ruling on Income Limits for Average Income Set Aside

IRS Provides Long-Awaited Guidance on Determining Income Limits under the Average Income Test On January 30, 2020, the IRS published Rev. Rul. 2020-4. This revenue ruling provided long-awaited guidance on how to compute the new income limits (20%, 30%, 40%, 70%, and 80%) under the average income minimum set-aside election. The addition of the new Average […]

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02.06.2020
Amanda Gross | HUD and Tax Credit Compliance

New HUD Notice on Assistance Animals

HUD Provides Clarification on Assistance Animals Sixty-Percent of all Fair Housing complaints relate to the denial of reasonable accommodations and those complaints regarding the denial of an assistance animal are one of the most common types of Fair Housing complaints received. HUD’s Fair Housing and Equal Opportunity Office published notice FHEO 2020-01. This notice reminds housing providers of their obligation under the Fair […]

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03.05.2019
Amanda Gross | HUD and Tax Credit Compliance

IRS Publishes Final Regulations on Utility Allowances

Changes to Actual Consumption Sub-metering from Renewable Energy Sources On March 4, 2019, the IRS published final regulations to amend the utility allowance requirements for Low-Income Housing Tax Credit (LIHTC) projects. While the final regulations carry forward many of the requirements in the temporary regulations published March 3, 2016, a few of the provisions were modified prior […]

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