Search Results for: Income Averaging
NCSHA Public Hearing Statement to IRS on Opportunity Zone Proposed Regulations
On February 14, 2019, during an Internal Revenue Service (IRS) public hearing on proposed Opportunity Zone regulations, Executive Director Stockton Williams urged IRS to implement regulations that strengthen the ability of Opportunity Zone tax incentives to expand and preserve affordable housing. In his testimony, Williams highlighted the importance of ensuring Opportunity Zone incentives can be put to work redeveloping vacant land in distressed communities, which represents a huge, largely untapped potential resource for affordable housing in many cities across the United States.
Protected: Hot Topics in Contract Administration (HFAi19)
Expert trainer Mary Ross returns by popular demand to discuss recent and upcoming changes to HUD Section 8 contract administration and assisted housing requirements, including implementing housing-related provisions from the Fixing America’s Service Transportation and Housing Opportunities Through Modernization acts, as well as changes to the Enterprise Income Verification system and Management and Occupancy Review form.
Monitoring Compliance with Income Averaging (HFAi19)
Discuss compliance challenges with the new income averaging minimum set-aside and the complexities associated with project monitoring. Understand state monitoring policies, new income limit calculations, critical compliance considerations, and emerging best practices on unit designation, the next available unit rule, and noncompliance correction. DISCUSSION LEADER Patricia Murphy, Director of Compliance | Texas Department of Housing [...]
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Managing Changes in Income Limits and Utility Allowances (HFAi19)
Examine the impact of recent income limit and utility allowance updates on Housing Credit compliance and management. Understand state agency, developer, and management company perspectives on rent increases. Explore application of new income limits and utility allowances in preservation transactions and resyndications. DISCUSSION LEADER Susan Westbrook, Manager of Rental Assets | North Carolina Housing Finance [...]
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Determining Income for HOME and HTF (HFAi19)
Learn the process PJs and housing partners must follow to verify income eligibility and make adjusted income calculations for HOME and HTF. This training will provide an overview of the income definitions, required policies and procedures, timing of verifications, and documentation requirements. Explore income basics, Part 5 and IRS definitions, determining household composition, verification of [...]
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HOME Essentials (HFAi19)
Expert trainer Monte Franke leads this two-part training session for anyone new to the HOME program or looking to brush up on HOME program basics. The session covers HOME program essentials, including eligible activities, affordability, income requirements, monitoring and compliance, community housing development organizations, and program deadlines. TRAINER Monte Franke, Principal | Franke Consulting Group [...]
HOME Compliance (HFAi19)
Examine the ins and outs of meeting HOME compliance requirements. This advanced training delves into inspections, rents, utility allowances, and income documentation. Learn about tools available to track the status of activities and compliance utilizing the HOME and Integrated Disbursement Information System reports. TRAINER Les Warner, Senior Technical Specialist | ICF [...]
Breaking Down Income Averaging with NCSHA’s Stockton Williams
In this December 2018 interview with Affordable Housing Finance, NCSHA Executive Director Stockton Williams discusses the Housing Credit income-averaging option and what it means for state Housing Finance Agencies and developers.
State Average Income Test Policies
The link below reflects Average Income Test policies state allocating agencies have shared with NCSHA. There may be additional states that have published policies since that date of which NCSHA is unaware. In addition, it is possible that state allocating agencies may revise their policies and not send NCSHA the revisions; therefore, we do not [...]
