Affordable Housing News & Views - July 2018
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 TrendsHaving 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 PricingIn 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