What's trending in Affordable Housing



March 14, 2016

Author(s): Anthony D. Ruvolo, Andrew H. Tripp

ACTION Campaign urges Congress to expand LIHTC program, changes to the housing credit monitoring regulations, revisions to HFA Risk-Sharing regulations. Here’s what’s trending in affordable housing and community development.

Low-Income Housing Tax Credit

ACTION Campaign urges Congress to expand LIHTC program

The A Call To Invest In Our Neighborhoods (ACTION) Campaign, a broad coalition of affordable housing industry participants at the national, state and local levels, has drafted an open letter to Congress seeking a 50% increase in LIHTC authority, and authority for states to convert their private activity bond volume cap allocation to LIHTC authority.—Andrew Tripp

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What are the changes to the housing credit monitoring regs?

On February 25, 2016, the IRS released revisions to the Section 42 compliance monitoring regulations contained in C.F.R. § 1.42-5 together with Rev. Proc. 2016-15, which change and clarify how credit agencies conduct physical inspections of units and reviews of low-income tenant certifications.—Andrew Tripp

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HUD

HUD proposes revisions to HFA Risk-Sharing regulations

HUD allows for abbreviated 30-day comment period.—Anthony D. Ruvolo

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Upcoming Events

IPED Learn the Basics: Housing Tax Credits 101

Location: Revere Hotel | Boston, MA

Date: March 17–18, 2016

Speakers: Nathan Bernard, Tom Giblin, Joe Lynch, John Marti, Forrest Milder, Jeff Sacks, Monica Sussman, Andrew Tripp, Deborah VanAmerongen

Topics include: Basic rules governing the LIHTC, understanding the financial aspects of LIHTC properties, using tax-exempt bonds to qualify for LIHTCs, assessing the state of the debt and equity markets in 2016 and more.

New York Affordable Housing & Community Development Update

Location: Nixon Peabody LLP | Rochester, NY

Date: April 6, 2016

Speakers: To be announced!

Topics include: Policy developments on Capitol Hill and at HUD, current issues on the LIHTC landscape, NY State affordable housing issues.

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