Affordable Housing News & Views - July 2018

CohnReznick Insights

Average Income Minimum Set Aside: A Q&A

Now that the new income averaging minimum set-aside has been law for several months, the practical implementation questions are coming out. The National Council of State Housing Agencies (NCSHA) has asked the Department of the Treasury and the Internal Revenue Service (IRS) for guidance in numerous areas. The letter highlights some of the owners’ questions, and what states must address during their required compliance monitoring. One thing that is becoming clear is that this new minimum set-aside will require the highest level of diligence by owners and property managers to avoid a failure to meet the elected minimum set-aside. Continue reading for answers to some of these current questions.

Better Understand Your Housing Properties: A Webinar on Latest Performance Trends

Having analyzed and published reports measuring the housing tax credit industry for years, CohnReznick’s Tax Credit Investment Services group recently issued its latest report along with the industry’s first interactive tool enabling you to see data down to the county level. Mixing high-level perspectives with granular data-driven insights, the report tracks the latest performance trends observed across the national housing tax credit portfolio consisted of over 20,000 properties. Please join the study authors as they review the report and show how the interactive tool may help you in your housing deals. The authors will review the highlights of the report, provide a walk-through of the online interactive tool and lead an interactive discussion on historical and current trends observed across the national housing tax credit portfolio. This webinar on August 7 lasts from noon to 1 p.m., EDT.

Tax Credit Monitor: TCIS Group Assesses AMI and Credit Pricing

In the latest “Tax Credit Monitor,” CohnReznick’s Tax Credit Investment Services (TCIS) professionals examine HUD’s income limits by county and the latest LIHTC pricing update. Regarding the income limits, TCIS calculated the change in adjusted AMI by county between 2017 and 2018. The adjusted AMI across all U.S. counties ranged from negative5 percent to 11 percent and the median change across all counties was 5.3 percent. For LIHTC pricing, the data represents the distribution of lower tier pricing for participating syndicators in the last 60 days based on 166 properties. Continue reading for the median housing credit price along with more details and analysis.

Around the Community

We will be attending and/or speaking at these events. We hope to see you!

NH&RA Summer Institute – July 18-21

Texas Housing Conference – July 23-25

Kentucky Affordable Housing Conference – August 21-22

Florida Statewide Affordable Housing Conference – August 27-29

In Case You Missed It  

News stories and headlines from the previous month

Affordable Housing Agency in Kansas to Close (USNews.com via The Kansas City Star and the Associated Press)

Cost of Growth: Buncombe County's plan to address the affordable housing gap (WLOS)

A Conversation With Lauren Garren (Affordable Housing Finance)

Fort Worth First Transit-Oriented Development Is Back on Track in This Location (Fort Worth Star Telegram)

Where to Put Affordable Housing? On Top of a Light Rail Station (Crosscut)

Impacts of the Omnibus Spending Plan on the Affordable Housing Industry (Pillsbury Law)

Sacramento Approved 5,500 Housing Units: Fewer than 100 Were for Low-Income Residents (Sacramento Bee)

Latest Affordable Housing Effort Near Beltline (Atlanta) Westside Trail Ready to Roll (Atlanta Curbed)

Here’s How To Combat San Francisco’s Affordable Housing Crisis (San Francisco Examiner)

Greenville (S.C.) Has New Tool to Push Affordable Housing (Greenville Journal)

_{This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.}