Property Compliance News Briefs - June 2015

Monday, June 1, 2015

The Wisconsin Housing and Economic Development Authority (WHEDA) announced April 17 an update to the recertification exemption policy. The policy was amended to clarify that if an owner has elected certain building identification numbers and all have been allocated as 100 percent low-income as documented on Internal Revenue Service (IRS) Form 8609, these will not be required to complete an annual tenant income recertification. WHEDA stated that based on this updated definition, low-income housing tax credit (LIHTC) properties may have different recertification requirements that need to be met based on their IRS Form 8609.

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The Tennessee Housing Development Agency (THDA) released a memo titled, “Introduction to Construction Inspections,” April 29. THDA created the memo to ensure that properties that were awarded LIHTC are constructed within federal guidelines. THDA will conduct construction site visits for awards allocated beginning 2013 to present. For developers allocated LIHTCs in 2015, the construction control manager (CCM) will hold pre-construction meetings at THDA to go over QAP requirements, inspection schedule and expectations. Physical inspections will be conducted periodically following the beginning of construction.

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The California Tax Credit Allocation Committee (TCAC) announced a collection period for the 2014 U.S. Department of Housing and Urban Development (HUD) tenant demographic data from June 1 to July 31. During that window, TCAC will collect data about households within all LIHTC units in a development as of Dec. 31, 2013 and Dec. 31, 2014. Additional information about data submission, including correct BIN number formatting, can be found in a memo dated March 23, which can be found online at www.taxcredithousing.com.

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On April 20, Larry Keys Jr. was appointed director of government affairs for the National Affordable Housing Management Association (NAHMA). His responsibilities include facilitating the development of public policy positons in coordination with the association’s committee chairs, members and board of directors; tracking and monitoring federal legislation and regulations related to affordable housing; drafting NAHMA’s comments on regulations and overseeing the content of the government affairs sections of the association’s website; distributing legislative and regulatory information to members and serve as a point of contact on government affairs issues; and being the primary advocate for NAHMA’s policy positions and meeting with Capitol Hill and federal agency staff to convey those positions. Keys previously worked as policy analyst at HUD, in the Office of Policy, Programs and Legislative Initiatives for Public and Indian Housing. Before that, Keys was a project manager in the Office of Multifamily Housing in Jackson, Miss.

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On May 12, the NAHMA Educational Foundation announced Johrita and Bruce Solari of Solari Enterprises as the recipients of its first Inspiration Award. The award recognizes individuals for their longtime commitment to the advancement of educational opportunities for those working within the affordable housing industry. The Solaris founded Solari Enterprises, a property management company specializing in affordable housing. The Solaris will be recognized at the foundation’s annual dinner June 24 at The View in the Palms Casino in Las Vegas.

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