Determining HUD’s Imputed Interest Rate

Determining HUD’s Imputed Interest Rate

When projecting Annual Income to determine eligibility and tenant rent for the HUD affordable housing programs, PHAs and Owner/Agents must consider imputed income from the assets when the combined total of all family assets exceeds $5,000. The rule states: When net...
HUD re-starts MORs

HUD re-starts MORs

HUD has announced that Performance Based Contract Administrators (PBCAs) and HUD field offices can resume Management and Occupancy Reviews (MORs) in areas where state or local laws do not restrict them, according to a June 23, 2020 Memorandum released by HUD’s...
IRS Provides Section 42 COVID-19 Relief

IRS Provides Section 42 COVID-19 Relief

On July 1, 2020, the Internal Revenue Service published IRS Notice 2020-53, which provides temporary relief to owners of Section 42 Low-Income Housing Tax Credit (LIHTC) properties due to the COVID-19 pandemic.  The Notice extends previously postponed due dates for...
Section 8 vs. Section 42

Section 8 vs. Section 42

Section 8? Section 42? Section 202 with Section 8? Section 236? These are the short-hand descriptors commonly used in referring to the affordable housing programs in the US. With so many numbers, it can be hard to keep track of what they all mean! The most ubiquitous...
IRS Form 8823 and the 8823 Guide

IRS Form 8823 and the 8823 Guide

For those unfamiliar with the Low-Income Housing Tax Credit Program (LIHTC), the number 8823 may have no particular meaning.  However, if you are involved in the development, ownership or management of properties utilizing this federal affordable housing program then...