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Property Compliance News Briefs - November 2013

On Sept. 17, the Wisconsin Housing and Economic Development Authority (WHEDA) announced the creation of a housing locator website. The free website will provide up-to-date information about rental housing across the state. Visitors can search by rental needs, including affordability, location and distance to medical facilities, public transit and schools. The site includes both private market and assisted and accessible housing properties. Property owners and managers will have 24-hour access to adding listings, and listings can include amenities and photos. WHEDA will officially launch the housing locator at its 2013 conference and will provide a toll-free, multilingual support center for users. The notice can be viewed at www.taxcredithousing.com. WHEDA enabled owners and managers to start advertising units in October and the site will be live on Nov. 19.

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On Sept. 12, the compliance division of the Texas Department of Housing and Community Affairs (TDHCA) approved new compliance monitoring regulations. The new regulations are located in an amended Texas Administrative Code (TAC) Chapter 10, Subchapter H, §10.1003, concerning tax-exempt bond properties; a new TAC Chapter 10, Subchapter H, §10.1004 and §10.1005, concerning the low-income housing tax credit (LIHTC), Tax Credit Assistance program (TCAP), LIHTC exchange program, Housing Trust Fund, HOME program and Neighborhood Stabilization Program; and a new TAC §5.2101 relating to community affairs monitoring. The new rules were published in the Oct. 4 edition of the Texas Register. The public comment period ended Nov. 4. The proposed rules can be found at www.taxcredithousing.com.

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The National Affordable Housing Management Association (NAHMA) will accept entries to 2013 Communities of Quality (COQ) Awards program until Nov. 8 at the NAHMA site. To enter the 2013 COQ Awards competition, a property must have achieved national recognition as a NAHMA Community of Quality with a minimum score of 325 points on its national recognition application. The deadline for submitting new National Recognition Applications in time to participate in the 2013 awards program was Sept. 6. The awards competition will include five categories: exemplary family development, exemplary development for the elderly, exemplary development for residents with special needs, exemplary development for single room occupancy housing and outstanding turnaround of a troubled property. NAHMA also announced that this year’s COQ Awards program will be jointly sponsored by HD Supply Multifamily Solutions, a leading supplier of maintenance and renovation products to the multi-housing industry and RealPage, a leading provider of on-demand products and services for the rental housing industry. NAHMA announced a new resource for its COQ program as well as a “How to Apply” webinar. Winners will be notified in early January 2014. They will receive their awards at the NAHMA 2014 winter meeting in Washington, D.C.

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On Oct. 22, the California Tax Credit Allocation Committee (TCAC) announced it was proposing to extend by 45 days the readiness to proceed deadline for some 2013 low-income housing tax credit (LIHTC) recipients. TCAC found that many developers were unable to meet the 180-day begin construction deadline because of the federal government shutdown. This change is designed to give developers the necessary time to meet the readiness to proceed point scoring. TCAC staff members will present this regulation change at their Nov. 13 committee meeting. A copy of TCAC’s announcement can be found online at www.taxcredithousing.com.

Journal Category:

Property Compliance

Authors:

Novogradac

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