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What to Do When a Property Fails a REAC Inspection

When a property fails a REAC Inspection, the property owners and managers often take it personally. It can feel like a gut punch, and often the initial response is defensive. A defensive response is entirely normal; it’s even human. However, this response often gets property owner’s in trouble. So, the question is: what should you […]

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07.29.2020
Scott Precourt | Uncategorized

Saying the Quiet Part Loud – Ending AFFH and Restoring NIMBY

In the last few weeks, HUD ended the Affirmatively Furthering Fair Housing (AFFH) initiative started under the previous administration. The rationale was that AFFH created administrative burdens and that the goals could be better achieved through utilizing opportunity zones. While I think that logic is flawed, it could be seen as at least somewhat based […]

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07.20.2020
Scott Precourt | REAC Inspections

Update on HUD REAC Safety First Return to Operations Plan

NAHMA hosted a call last week on July 17, 2020, with HUD REAC’s Deputy Assistant Secretary, David Vargas, to discuss REAC’s Return to Operations and Safety First plan. Previously the plan was to include an announcement on or around July 15th. However, due to the recent resurgence of COVID-19, HUD REAC is not able to announce […]

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07.09.2020
Scott Precourt | HUD and Tax Credit Compliance

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 outlines 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 to local restrictions. […]

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07.09.2020
Scott Precourt | HUD and Tax Credit Compliance

Changes to Processing Vacancy Special Claims During COVID-19

On July 6, 2020, HUD released a memo titled “Processing of Special Claims for Vacancy During the COVID-19 Pandemic“. Due to workplace restrictions and stay-at-home orders during this pandemic, multifamily housing managers are experiencing issues with routine activities such as preparing the unit for occupancy,  showing units to prospective tenants, and processing documentation to determine […]

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07.06.2020
Scott Precourt | HUD and Tax Credit Compliance

CARES Act Moratorium on Eviction to End July 24, 2020

On July 1, 2020, HUD released Notice H 20-07 which addresses the CARES Act eviction moratorium which was signed into law on March 27, 2020, and extended for 120 days. This notice extends the moratorium on evictions for non-payment of rent at HUD financed properties currently under a forbearance agreement and clarifies that other HUD […]

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07.06.2020
Scott Precourt | HUD and Tax Credit Compliance

IRS Publishes Proposed Change to LIHTC Inspection Sampling Guidelines

On July 2, 2020, the IRS released an advanced copy of proposed regulations concerning physical inspections and file audits of LIHTC properties. This proposed legislation would restore the earlier standard of using the lesser of either 20% of low-income units or the applicable sample on the REAC sampling chart. This update would reverse the sampling […]

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