HUD recently published a notice designating difficult development areas (DDAs) and qualified census tracts (QCTs) for 2016. A DDA for the LIHTC program is an area designated by HUD with high construction, land, and utility costs relative to its area median gross income (AMGI). DDAs are eligible...
The National Association of Home Builders (NAHB) recently released an analysis of how many people have benefitted from the LIHTC program since it was created in 1986. According to the NAHB, approximately 6.5 million low-income households, or roughly 13.3 million people, have lived in affordable...
A 2015 study published in Urban Studies by researchers at Texas A&M University, titled “Unpacking the impacts of the Low-Income Housing Tax Credit program on nearby property values,” questions the perception of affordable, subsidized housing driving down housing prices...
The IRS recently released Revenue Procedure 2015-53, which outlines the inflation adjustments for nearly 50 federal tax provisions, including the amount of Low Income Housing Tax Credit (Housing Credit) authority each state will receive. Under the new guidelines, each state will be allocated $2....
Recently, the J. Ronald Terwilliger Foundation for Housing America’s Families hosted the New Hampshire Housing Summit and invited presidential candidates to address an audience of about 200 housing industry officials. Seven presidential candidates individually discussed how they would...
On Oct. 21, HUD announced a proposed rule that would formalize the standards for evaluating harassment claims in housing or housing-related transactions under the Fair Housing Act. According to HUD, sexual harassment is the most common type of harassment complaint it receives. Harassment in...
National accounting firm CohnReznick has spearheaded an effort to bring together independent state housing associations. The Council of Independent State Housing Associations (CISHA) will, for the first time, formally connect representatives of affordable housing associations with one another in...
The former Miami-based Carlisle chief executive officer recently admitted to participating in a $30 million fraud scheme involving 10 low-income housing sites. Specifically, he pled guilty to two counts of conspiracy to commit theft of government money, in connection with a scheme to steal...
In response to a report from the Government Accountability Office (GAO) suggesting that a joint administration between the IRS and HUD would benefit the LIHTC program, LIHTC industry groups have opposed the GAO’s recommendations. The GAO report suggests that the IRS currently lacks...
Ten years after Hurricanes Katrina and Rita devastated the Gulf Coast, Louisiana State University researchers have analyzed and documented the recovery effort for the state. Initial reports were recently released. Due to the unprecedented destruction of the 2005 storm season, recovery efforts...
When developers seek financial resources for affordable rental housing development, many combine funds generated through the LIHTC program offered by the IRS with housing block grant funds provided through the HOME Investment Partnerships (HOME) program administered by HUD. For example, to...
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...
