As the nation's portfolio of affordable housing continues to age and the amount of available federal resources shrinks, blended sites (also known as layered or combo sites) have become the new reality. Along with this new reality, however, comes the difficulty of navigating the different regulatory requirements at these blended sites.
In this webinar, NCHM Director of LIHTC Compliance Jo Ikelheimer llooks at the compliance challenges at sites that combine LIHTC and HOME.
While LIHTC and HOME regulatory requirements are broadly compatible, the Applicability Charts for the 2013 Final Rule threw a major monkey wrench into the works. Recently adopted student eligibility restrictions now apply at all HOME-funded properties, not just those under commitment since the Final Ruleís publication. As a result, many owners and managers may be surprised to find that they are no longer in compliance.
This webinar will not only detail the HOME student eligibility restrictions, but will compare them with the LIHTC student restrictions for blending purposes and provided detailed instruction on how to fix existing noncompliance.
Join Jo as she explores:
The difference in the way LIHTC and HOME count household members for purposes of income limits
The difference in the way LIHTC and HOME count employment income for disabled household members
The significant lag time between HUDís publication of LIHTC income limits and its publication of HOME income and rent limits
The high/low rent requirements and fixed/floating unit issues with HOME when blended with LIHTC
The different record retention requirements of the two programs and the applicability of Fair Housing laws