The Credential
March 2019
Message from the Chair
Welcome to the first 2019 issue of The Credential.
It is an honor to once again serve as the chairman for the Housing Credit Certified Professional (HCCP) Board of Governors. I have been a member of the Board of Governors for a long time and continue to believe that this is the premiere designation in the Low Income Housing Tax Credit (LIHTC) industry. I am excited to see what this year will bring in our industry, with changes in monitoring requirements and, of course, learning how to implement income averaging.
This month, Melanie Shapiro from Ohio Capital Corporation for Housing has written an informative article about the basics of the Fair Housing Act (FHA) as it relates to the LIHTC program. Although FHA issues affect all parts of the multifamily industry, there is a special link to the LIHTC segment that cannot be ignored.
As you are aware, the IRS published new final regulations in the Federal Register on Feb. 26 regarding LIHTC monitoring and compliance. Although we have not had very long to digest this new guidance, Scott Michael Dunn of Costello Compliance does a great job of providing highlights and keying in on the most important aspects.
We also have a great article about the often-overlooked subject of marketing your LIHTC community. I have found in my travels that LIHTC communities often operate at maximum rents and a waiting list. Unfortunately, not all communities are this lucky. Bonnie Gravitte of CAHEC has provided great information to consider when tackling marketing.
As always, you will find the Board of Governors Spotlight on Robin Thorne and Distributor Spotlight on Jeffrey Promnitz. We think it is important to bring attention to the wonderful individuals associated with the HCCP designation. This issue also spotlights this year’s HCCP Designee of the Year, A.J. Johnson. Many of you know A.J. Johnson as a leader in the industry, but you may not know he has been involved with the HCCP designation since the very beginning.
Join us on March 21 for the webinar, “How Do I Maneuver Through the Issues that Marijuana May Bring?” This presentation will address issues related to processing reasonable accommodation requests, duties of affordable housing landlords to provide drug-free housing, and the impacts marijuana has on other residents of the apartment community. Find more information about the webinar.
I hope you enjoy this issue of The Credential. Please don’t hesitate to contact us if you need more information or have a specific question.
Sincerely,
Oke Johnson, HCCP
LEDIC Realty Company, LLC
Chair, HCCP Board of Governors
Stories in this edition:
Back to Basics 1 – Build a LIHTC Library
How is Fair Housing Different for LIHTC Properties?
Marketing Your Community
New IRS Regulations – So Many More Units to Inspect!
HCCP Designee of the Year Spotlight
HCCP Board of Governors Spotlight
HCCP Distributor Spotlight
