Tax Credit/LIHTC Housing Projects are aging and many are in need of rehab and recapitalization. The challenges that come with this are many, and the rules can be complex.

During this informative and engaging webinar, Amanda Lee will provide attendees the information needed to maintain compliance when conducting Acquisition Rehab at a LIHTC project. 

Topics Include: 

• Certification of existing tenants
• Unit transfers
• Key deadlines
• Maximizing Credit Delivery
• Overview of Resyndication. 
• Overview of the Uniform Relocation Act. 

All attendees will receive a comprehensive course manual that can be used as a reference manual long after the webinar has concluded.

In 2018 the Low-income Housing Tax Credit program introduced a significant change - the new “Income Averaging” Minimum Set-Aside election.

In this webinar, Amanda Lee Gross breaks down the changes to Section 42 of the Internal Revenue Code relating to this new election and does so in an easy to understand format. Amanda Lee also highlights the benefits as well as the potential challenges owners may face with making this all-important election.

Topics include:

• Overview of the LIHTC program’s Minimum Set Aside (MSA) Requirements
• Understanding the available options
• Effect of the owner's multiple building election on the MSA
• Method of Achieving the Average Income Set-Aside
• Calculating income and rent limits based of the new set-asides
• Complying with the Next Available Unit Rule at an Average Income project
• Potential affects of Noncompliance at an Average Income Project

Advanced LIHTC Compliance - This course covers credit allocation, applicable fractions, minimum set-asides , acquisition /rehab and resyndication. 

Streamlining HUD Recertifications

In May of 2020, HUD published a Final Rule finalizing the regulatory language to implement the FAST Act which allows for streamlined recertifications. This final rule discusses how these new rules affect:

• Asset Verification
• Utility Allowance Reimbursements
• Triennial Income Verifications

Reducing the Administrative Burden for Owners

This Final Rule reduces the burden of verifying household assets when determining a household’s income upon recertification and also reduces the burden of verifying fixed income sources when determining a household’s income upon recertification. The rule reduces this burden by permitting owners/agents to verify a household’s fixed income (such as social security)every three years as opposed to every single year. For households whose fixed income represents 90% or more of the household’s total gross income, the owner/agent is not required to verify non-fixed income sources in years 2 and 3 after a full third-party income certification has been conducted. Additionally, this new rule allows for utility reimbursements to be paid quarterly in certain circumstances.

Learn to Take Advantage of This New Benefit

This rule makes the process of recertifying households in HUD housing much easier and less time-consuming. So the question is: why haven’t more owners implemented this rule? Some owners and agents have avoided using this new option out of fear the process is too difficult to track. Others are afraid of doing it wrong and getting in trouble.

Simplifying Streamlining

In this 90-minute webinar, Amanda Lee Gross will provide valuable information relating to the streamlining provisions and provide guidance on how to implement these provisions at a HUD Multifamily Property. Topics Include:

• Verifying Assets every three years
• Determining which households are eligible
• Interim Recertifications during the triennial period
• The requirements regarding fixed-income triennial verification
• Utility reimbursements can be paid quarterly

As we all know, many USDA/RD properties have budgets that are tight and provide little flexibility. As such, proper financial management is paramount for these properties. USDA requires proper financial tracking, budgetary controls, and replacement reserves. During this three-hour webinar, Amanda Lee Gross will review the fundamentals of proper financial controls and management. This includes:

• • Project Accounting Systems
• • Required Financial Accounts
• • Allowable Project Expenses
• • Replacement Reserves
• • Budget Requirements
• • Reporting and Financial Examinations

With continued advances in technology, we are now living in the “Age of the App” which has created peer-to-peer payment apps, such as Venmo, Cash, Paypal, etc. The determination of annual income includes considering proceeds from household assets, and one of many challenges for housing professionals in determining when an asset is treated as an asset, and when an asset is actually treated as an income source. 

Learn to Conquer Asset Calculations 

In this webinar, Amanda Lee Gross will review common assets encountered by housing professionals and she will even touch upon some less common assets as well. Amanda will also clarify when an asset source is actually treated as an income source. Amanda will also speak to: 

• Are these peer-to-peer treated as household assets?
• Are deposits made into the app treated as income? 
• Potential changes related to assets under HUD’s proposed rule implementing HOTMA. 
• Handling income and assets utilizing of peer-to-peer apps

In this webinar, Amanda Lee will discuss the components of determining adjusted income and determining tenant rent for HUD, HOME, and USDA/RD. She’ll also review the impending changes regarding adjusted income will also be discussed throughout this informative webinar.

In this content packed webinar, Amanda Lee reviews the recertification requirements that apply to the Low-Income Housing Tax Credit (LIHTC) program and how a recertification can trigger the applicability of the Next Available Unit Rule. This session also includes valuable tips and red flags to be aware of when processing recertifications . 

In this session, Amanda Lee will address the following questions: 

- Which LIHTC projects must conduct annual recertification? 

- How can noncompliance from a Late recertification be corrected? 

- When is the HFA permitted to file an 8823 regarding late/incomplete recertifications, and when are they not permitted? 

- Does the Next Available Unit Rule apply to 100% LIHTC Project? 

- How is the Next Available Unit Rule apply to project that elected the Average Income Minimum Set Aside ? 

Get the answers to these questions and more by attending this webinar!

The special claims process is designed to reimburse owners of eligible HUD projects for the owner’s financial loss resulting from vacancy loss, unpaid rent, and tenant damages. However, in order to get this reimbursement, the owner/agent must file for the reimbursement. While owner/agents are not required by HUD to file for special claims, management agents who do not file special claims are essentially choosing not to collect funds that the project’s owner is entitled to. 

In this 90 minute webinar, Amanda Lee Gross - VP of Training and Compliance Policy for US Housing Consultants - will provide the information needed in order to process special claims for: 

• Vacancies after rent-up

• Unpaid rent/damages

All attendees will receive a comprehensive course manual that can be used as a reference manual long after the webinar has concluded.

It Aint Over till It’s Over – The Treatment of Over-Income and Ineligible Households in Affordable Housing Programs – 90 Minute Webinar (Recorded Live July 11, 2019)

We all know that a household must be income qualified to move into an affordable housing unit, but sometimes even the most diligent compliance professional misses a detail or there is misreporting by the resident and a household is admitted who is not income qualified. What to do in these situations leads to many questions, such as:

• What happens if a household becomes ineligible after moving in? 
• What happens to an existing tenant who does not meet program requirements during Acquisition/Rehab? 

In this 90 minute webinar, Amanda Lee Gross will answer these questions by discussing the requirements regarding the treatment of these types of households for the following programs: 

• LIHTC
• HUD
• RD
• HOME

Amanda Lee Gross will also guide attendees on how to maintain compliance related to over-income or ineligible households when a project has more than one of the above funding sources. All attendees will receive a comprehensive course manual that can be used as a reference manual long after the webinar has concluded. 

Stumped by the Affordable Housing Student Rules? 

There are student eligibility requirements applicable to each of the four major housing programs, LIHTC, HUD, Rural Development, and the HOME Program. These requirements affect whether a household is eligible to occupy a unit or receive rental assistance, and also affects how the treatment of student income determining a household's annual income. While each program has student eligibility requirements, the requirements are not the same for each program, which can pose a compliance challenge for housing professionals dealing with layered properties. 

Student Eligibility in Affordable Housing 

In this 90 minute webinar, Amanda Lee review the student eligibility requirements and exceptions for the following housing programs 

• LIHTC 
• HUD
• HOME Funds 
• Rural Development 

Amanda will wrap up the session by reviewing the treatment of student income, including the student financial assistance .