NCSHA’s Housing Credit Connected brought the Housing Credit community together between May 26 and June 5, 2020, for a webinar series exploring COVID-19’s impact on investment, development, compliance, and policy. Senior IRS and HUD officials, state Housing Credit agency development and compliance staff, and industry leaders discussed the new investment and development environment, federal and state policy changes, and emerging industry responses to the pandemic. All session recordings from this virtual event are available on demand. Learn more about Housing Credit Connected.
HC Connected Conference Session: Senior Internal Revenue Service officials discuss 10 percent test and placed-in-service deadline extensions, other relief available as a result of Major Disaster declarations, and the potential for additional Housing Credit guidance specific to COVID-19 recommended by NCSHA. This is an opportunity to tell the Service how else they can help the industry navigate the crisis.
HC Connected Conference Session: As the country looks forward to recovery from the economic downturn, the need to produce new affordable housing will be more acute than ever. Explore the pandemic’s impact on future development, including the potential for significant changes to state allocation policies, housing design and construction, financial underwriting criteria, and project feasibility analysis.
HC Connected Conference Session: Explore options for financing additional costs associated with a disrupted construction schedule and strategies for minimizing the consequences of tax credit adjuster provisions, delayed placed-in-service dates, and later-than-expected issuance of IRS Form 8609.
HC Connected Conference Session: The impact of the pandemic on Housing Credit compliance will be profound. Explore the effect of unemployment benefits and Treasury stimulus checks on tenant qualification, long-term policy issues related to eviction moratoriums, implications of extended noncompliance correction periods, and the impact of potentially dramatic decreases in income limits and maximum rents.
HC Connected Conference Session: During this session, we explore approaches to maintaining Housing Credit compliance during a pandemic. Discuss the impact of delayed tenant income re-certifications and physical inspections on owner compliance responsibilities, property management practices, and noncompliance correction, as well as new compliance and management practices that embrace the social distancing norm.
HC Connected Conference Session: Social distancing and stay-at-home orders are causing severe disruptions to ongoing compliance monitoring, especially the ability of Housing Credit agencies to conduct site visits and physical inspections. Learn how state agencies are adapting their compliance policies and developing monitoring best practices during a pandemic.
HC Connected Conference Session: Learn strategies for identifying and minimizing the financial impact of COVID-19 on existing Housing Credit developments. Explore successful approaches to current property financial challenges including reduced rent collection, eviction moratoriums, deferred maintenance, depleted reserves, and operating deficits.
HC Connected Conference Session: HUD programs are a critical component of Housing Credit properties’ capital stacks and provide essential rental assistance to residents. Hear from senior HUD officials about the policies HUD has implemented in response to the pandemic, including suspension of statutory provisions and regulatory waivers, as well as other program relief under consideration.