The Housing Opportunities Through Modernization Act (HOTMA) poses the most significant changes to affordable housing in decades, including the Low-Income Housing Tax Credit (LIHTC) program. While some State Housing Credit Agencies have updated their policies and forms...
Last week, HUD finalized its calculations for the upcoming year’s passbook savings rate. The new rate has been set at 0.45% for 2025. Affordable housing programs use the passbook savings rate to calculate imputed income from assets. This number essentially represents...
The U.S. Department of Housing and Urban Development (HUD) has released the inflation-adjusted values and the revised passbook rate for 2025. These adjustments are effective from January 1, 2025, and are essential for compliance with Sections 102 and 104 of the...
The U.S. Department of Housing and Urban Development (HUD) has recently announced an important update regarding the implementation of the National Standards for the Physical Inspection of Real Estate (NSPIRE). In a notice published on July 5, 2024, HUD has extended...
On April 29, 2024, HUD released important guidance on the use of Artificial Intelligence (AI) in tenant selection decisions. The document highlights how even relying on seemingly objective tools may not provide enough context to arrive at appropriate tenant admission...
The long-awaited updated version of the IRS’s Guide for Completing Form 8823 has been released. The Guide was first released in 2007 to provide guidelines for preparing Form 8823, the Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. ...
Nearly ten years after its last update, the new list of Federally Mandated Exclusions from income was published in the Federal Register on January 31, 2024. The listing adds four new income exclusions and clarifies/expands four income sources that had been described...
We sadly report the passing of William “Bill” Fitzhugh Fox, the longest serving Board member in the National Center for Housing Management’s history. Bill was 87 years old at his passing. He is survived by six children and ten grandchildren. Bill joined the NCHM Board...
It is with great sadness that we report the passing of long-time NCHM instructor and colleague, Carrie Tietjen. Carrie was 51 years old at the time of her passing. She is survived by her daughter, Nicole, son, Alex, her grandson Theo (Nicole’s son), and her sister and...
NCHM staff recently reached out to IRS officials for guidance on how the agency will handle the Housing Opportunities Through Modernization Act (HOTMA) Final Rule provisions recently issued by HUD with respect to their impact on the Low-Income Housing Tax Credit...
