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HUD REVISES RENT RULES FOR PBV UNITS RECEIVING LIHTCS

Monday, November 19, 2007 - 7:00AM

The U.S. Department of Housing and Urban Development today published a final rule that revises the low-income housing tax credit (LIHTC) rent provisions of HUD's Project-Based Voucher (PBV) program regulations. The rule reinstates the provision that the LIHTC rent does not serve as a cap on rents in PBV projects receiving LIHTCs. The rule also re-emphasizes that public housing authorities (PHAs) may not enter into assistance contracts until HUD, or an independent entity approved by HUD, has conducted the required subsidy layering review and determined that the assistance is in accordance with HUD requirements.

To hear more of the latest LIHTC developments or to learn more about HUD programs, join Novogradac & Company LLP in Las Vegas November 29-30 for the Tax Credit Housing Finance Conference, which will feature a panel on combining LIHTC equity and HUD subsidies.

Or join us January 10-11, 2008 in Sunny Isles Beach, Fla. for the 14th Annual Tax Credit Developers Conference, where the agenda features a HUD track focused on partnering with HUD, combining LIHTC equity with HUD subsidies and a special roundtable discussion led by developers who will share their experiences including case studies and success stories.

 

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