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Property Compliance News Briefs - May 2012

The U.S. Department of Housing and Urban Development (HUD) through the Energy Innovation Fund awarded nearly $23 million to a dozen organizations. The fund is a pilot program to find new energy-saving upgrades that can be used to retrofit multifamily housing. Grantees will use the funds to test new approaches to implement and pay for energy upgrades. The program’s goal is to develop ideas and mechanisms that could be replicated nationally, as well as create industry standards. It is also expected to forge public/private partnerships and create green jobs in construction, property management, and technical analysis. HUD reports the grants have leveraged an additional $60 million in local and private capital. A list of grant recipients is available at the HUD website.

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HUD has identified several issues that have the potential to delay or impede the ability of families to relocate while retaining their voucher and has proposed a rule to streamline the regulations governing portability in the Housing Choice Voucher program. One of the proposal’s main purposes is to make it easier for families with housing vouchers to relocate to areas that may offer greater opportunities. The rule proposes changes designed to delineate more clearly the roles of initial and receiving public housing agencies (PHAs), making the portability process more certain; to improve accountability in portability billing arrangements between PHAs; and to increase family choice and reduce burdens relating to locating suitable housing. Comments on the proposed rule must be received by May 29. See the March 28 Federal Register notice at www.hudresourcecenter.com for more information.

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Florida Housing announced that in January it had resumed the inclusion of basic allowance for housing (BAH) for military personnel in its determination of annual income. The agency said it took this action because the Housing and Economic Recovery Act provision that temporarily disregarded BAH for purposes of annual income determination expired on December 31, 2011.

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Utah Gov. Gary Herbert in March signed H.B. 75 to require low-income housing tax credit (LIHTC) property owners to annually provide county assessors with rent rolls and a financial operating statement for the prior year. They must also provide a signed statement that the property continues to meet LIHTC requirements, and the financing terms and agreements for the property. If an owner fails to provide this information before April 30, the assessor will estimate the property’s fair market value based on the information available, and the owner will be subject to a penalty equal to the greater of $250 or 5 percent of the tax due on the property for that year. The law will take effect on January 1, 2013. A copy of H.B. 75 is available at www.taxcredithousing.com.

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The Indiana Housing and Community Development Authority (IHCDA) is permitting all Section 42 property owners within the state to provide temporary emergency housing to individuals affected by recent floods and tornadoes. Low-income individuals displaced as a result of a major disaster may be housed for a period of no more than four months beyond the date of the president’s major disaster declaration. IHCDA says this will not cause a building to suffer a reduction in qualified basis as long as all requirements are met. The counties of Clark, Jefferson, Ripley, Scott, Warrick and Washington were declared major disaster areas. More information and detailed requirements for temporary emergency housing are available at the IHCDA website.

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The Texas Department of Housing and Community Development (TDHCA) released its 2012 Compliance Monitoring Newsletter. The publication covers utility allowance updates, income and rent limits, common physical inspection deficiencies and other matters of significance to owners and managers of TDHCA-assisted properties. Download the newsletter from TDHCA’s website.

Journal Category:

Property Compliance

Authors:

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