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Property Compliance News Briefs - May 2013

The California Tax Credit Allocation Committee (TCAC) announced updates to its tenant demographic data collection requirements. New instructions state that 2012 tenant demographic data must be included in existing 2012 files and is required of all low-income housing tax credit (LIHTC) units in a project as of Dec. 31, 2012. TCAC also noted that the same software will be used as in 2012, but that there were several software updates. Software downloaded prior to March 29, 2013 will update automatically. Project owners and managers that open the software after March 29, 2013 will need to install the latest version. Data must have the correct BIN number formatting, and will be due by June 3, 2013.

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The American Council for an Energy-Efficient Economy (ACEEE) and CNT Energy released a report on multifamily buildings and strategies on implementing an effective energy program. The report, “Engaging as Partners: Introducing Utilities to the Energy Efficiency Needs of Multifamily Buildings and Their Owners,” introduces nine strategies for designing the energy efficient programs. The report listed several recommendations for utilities such as designing programs that address the needs of multifamily housing, making rebates easy to understand and access, and coordinating programs offered by natural gas and electric utilities. The report also details the need to develop programs that counteract the split incentive that occurs with rental housing when owners fund the upgrades but tenants pay the energy bills.

In March, the Wisconsin Housing and Economic Development Authority (WHEDA) updated the affordable housing tax credit (AHTC) program compliance manual. Clarification and examples of utility allowances were added to the manual. Specific changes include: utility allowance documentation and calculation guidance, additional examples of when a unit is considered out of compliance when gross rent exceeds the maximum gross rent limit, fee updates based on the 2013 qualified allocation plan, updated the number of consecutive paystubs required and renamed AHTC Form 905.

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In April, TCAC released a memo to LIHTC recipients regarding signage for property construction sites. It is now required that signage at the sites be visible during the construction phase at new construction and rehabilitation properties. The signage must include the TCAC logo, which is available on the TCAC website, and the agency name. The signage must be visible from the street and must be proportionate to the size of other logos on a sign with multiple funding sources. The signage logo is available at www.treasurer.ca.gov/ctcac/signage/logo.jpg.

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In March, the United States Department of Agriculture (USDA) Rural Development released a stakeholder announcement about its implementation of 2010 census data for USDA housing programs. The notice incorporates the provisions of the Consolidated and Further Continuing Appropriations Act of 2013, which extended the eligibility of communities eligible on Sept. 30, 2012 for rural housing programs to Sept. 30, 2013. The notice provides details on implementing census data in compliance with the Agricultural, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2013. For more information on area specific eligibility, visit: eligibility.sc.egov.usda.gov/eligibility.

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On April 2, the U.S. Department of Housing and Urban Development (HUD) published a request for comments on its proposed Affirmative Fair Housing Marketing (AFHM) plan. The proposal is as follows: developers of new projects describe their intent (marketing efforts) to assure that they meet the fair housing guidelines in how the project is marketed to the public. Those affected will be applicants for mortgage insurance under HUD’s single-family and multifamily subsidized and unsubsidized programs. Comments are due June 3.

Journal Category:

Property Compliance

Authors:

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