The Credential - March 2025

Welcome to the March 2025 edition of The Credential.

I am honored to be the 2025 Chair of a very talented and distinguished HCCP Board of Governors, many of whom I’ve worked with or sought out as industry experts throughout my affordable housing career.

I’ve had the opportunity to spend the past year as the Vice Chair, working closely with Marie Peace and Missy Covington. Both Marie and Missy bring amazing perspectives and insights into our industry, and their guidance has been invaluable. I am grateful that Wendy Quakenbush welcomed the opportunity to be the Vice Chair, and I look forward to including her knowledge and experience.

2024 was a year of “choose your own HOTMA adventure”! While HUD ultimately delayed the implementation date to July 1, 2025, our HFA partners had a big decision to make; Adventure A: some proceeded with full implementation, Adventure B: others provided guidance but left the effective date of implementation to the operators, and Adventure C: the remainder decided to wait it out and prepare to align with HUD’s implementation date. I am grateful to Adventure A HFA’s, many of whom have provided updated forms, policy updates and monthly training. For Adventure B & C they’ve allowed us to continue to immerse ourselves in education and prepare for implementation.

Speaking of immersing ourselves in education, I am excited about the variety of articles in this edition of The Credential:

• Back to Basics Again - HOTMA for LIHTC: Assets, Part 1 (Scott Michael Dunn)
• Tax Credit 101 - State Housing Agency Perspective on Form 8823 (Susan Westbrook)
• Introduction to Asset Management (Jill Cromartie)
• The Secret to Our Success: Heart Work That Lasts (Babbie Jaco)
• Management Controls and Policies Related to Due Diligence (Jameela Duhayat)

And be sure to register for our upcoming webinar “Due Diligence in LIHTC Compliance: Protecting Your Tax Credits” with Jen Brewerton and Gary Kirkman.

To close out this message, I’d like to celebrate Kelly Wakefield, our 2024 HCCP of the year! This very prestigious award recognizes professionals who exemplify excellence and promote the value of the HCCP credential within the industry. Kelly is the Executive Vice President of Preferred Compliance Solutions and an HCCP Distributor; her dedication to the HCCP designation and our industry make her very well deserving of this award. Congratulations Kelly!

Sincerely,
Gina Metzger - Chair, HCCP Board of Governors

Stories in This Edition:

• Tax Credit 101 - State Housing Agency Perspective on Form 8823
• Introduction to Asset Management
• Back to Basics Again - HOTMA for LIHTC: Assets, Part 1
• The Secret to Our Success: Heart Work That Lasts
• Management Controls and Policies Related to Due Diligence
• HCCP Designee of the Year: Kelly Wakefield
• HCCP Board of Governors Spotlight: Jill Cromartie
• HCCP Distributor Spotlight: Christa Landram