Businesses seeking to recover coronavirus-related losses under their business interruption and property insurance policies have had difficulty in doing so because of questions as to whether their policies cover such losses. How those coverage questions will be resolved remains an open question,...
Q We need to repaint some of the low-income units at our tax credit site. To accomplish this, we must temporarily displace residents—that is, have residents move out of their units—for a few days. Will the owner of our site stay...
QMy management company will let a qualified applicant with no credit history sign a lease if she can find a guarantor. One applicant told us that if we rent a low-income unit to him, his guarantor will pay the rent for two months. If we...
Q Our site is a project-based Section 8 site with LIHTC units. We recently found out that one of our residents who has lived at the site since 2007 got married in 2014 and never reported it. We know her husband doesn’t live in the unit...
Q My company has just started managing our first tax credit site. Some of our applicants aren’t U.S. citizens. We’ve previously managed Section 8 sites and have had to reject applicants because they were noncitizens without proper...
Q As I understand it, there’s an exception to the student rule for a single parent. At what age is the child no longer considered a child or a full-time student for the purposes...
QThe October issue of the Insider stated that a full-time student household doesn’t violate the student rule if “the household consists of a single parent with a dependent child (or children), and neither the parent nor...
Q How do I verify student status of an international student who attends school full time but receives zero credits? Schools generally confirm student status by the number of credit hours taken, so it is possible that the college may verify a...
Q As the manager of several tax credit sites, I’ve been asked to lead an effort to create an environmental sustainability plan for one of our sites, as a pilot plan for our portfolio of sites. I’ve heard of these plans, but don...
Q My community room is part of the building’s basis for tax credit calculation purposes, meaning that the owner counts it as part of the property for which the state has awarded tax credits. Residents have asked me to permit a local...
