Sign Up For Novogradac Industry Alert Emails

Property Compliance News Briefs - December 2013

The House of Representatives on Oct. 28 passed House Resolution (H.R.) 1742, the Vulnerable Veterans Housing Reform Act of 2013 and H.R. 2481, the Veterans Economic Opportunity Act of 2013. H.R. 1742 changes how the U.S. Department of Housing and Urban Development (HUD) calculates the income of disabled veterans by excluding payments made for expenses related to aid and other assistance. Currently these benefits are included as income when determining housing assistance eligibility. H.R. 1742 also requires a public housing agency (PHA) to approve a higher utility allowance for a family that includes an individual with disabilities. H.R. 2481 creates the Veterans Economic Opportunity Administration. The administration would administer programs related to providing economic opportunity for veterans. H.R. 2481 expands the Service Members Civil Relief Act’s mortgage protections for service members. The legislation’s provisions apply to surviving spouses, those serving in a contingency operation, medically discharged veterans and those placed on convalescent status. It also extends through 2018 programs used to help homeless veterans reintegrate into the labor force. Text of the legislation is available is available at www.taxcredithousing.com.

***

The Florida Housing Finance Corporation (FHFC) announced Oct. 14 that it has posted the updated 2013 Housing Credit Compliance Monitoring Fees on its website. They are located under the additional multifamily programs reference and links section of the multifamily programs on the related references and links page. Additions include the final 2013 FHFC development proximity list, the 2013 housing credit compliance monitoring fees, HUD-designated 2013 qualified census tracts and the 4 percent housing credit compliance monitoring fees, among others. The updates, as well as a link to FHFC’s website, are available at www.taxcredithousing.com.

***

On Oct. 30, the Council for Affordable and Rural Housing (CARH), along with other affordable housing trade organizations, sent a letter to the National Rural Development (RD) Office protesting its Sept. 23 recommendation that there be no increase in management fees for 2014. CARH asked that this decision be reversed. They provided examples of how management fees have a small impact on the rental assistance (RA) budget. CARH also argued against the decision to allow states the option to omit management fee surveys and instead use results from the previous year, rather than conducting a thorough current survey or using HUD’s operating cost adjustment factor (OCAF). CARH is asking members for input and will be investigating other approaches to determine management fees.

Journal Category:

Property Compliance

Authors:

Novogradac

Learn more about Novogradac's expertise and many services