The Credential - June 2021

Housing Credit Certified Professional (HCCP)
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Welcome to the June 2021 edition of The Credential!

With a holiday weekend looming, and summer right around the corner, we are emerging from the bleakness that we have seen over the past year. Slowly but surely, life is returning to a new version of normal. The resiliency of the human spirit is beyond compare! We are figuring out how to thrive while protecting our family and friends. Trying to plan a spur-of-the-moment family getaway is suddenly a problem, not because venues are closed, but because they are open and booked solid. Once again, hope springs eternal as we venture out into the world.

Listening to the birds sing and the crickets chirp are among my favorite activities. I am hearing these in abundance, and I am seeing more lightning bugs (or fireflies, depending on where you hail from) than I have seen in years. Perhaps I am just appreciating the simple things more. Along with changes in nature, I am seeing the affordable housing world spring back into action:

  • 2021 income and rent limits have been released for all affordable housing programs. LIHTC and Section 8 limits were effective on April 1, 2021. HOME and Housing Trust Fund Limits are effective on June 1, 2021.
  • More than 120 people have taken the online version of the HCCP exam since it was launched in early March, with many more planning to take the exam. Exam retakes are on the rise as well.
  • Virtual conferences have been perfected over the past year, and in-person conferences are starting to emerge on our calendars between the virtual ones as travel restrictions start to lift.
  • Physical inspections are resuming across the country. Some inspections are being conducted virtually, while HUD has eliminated its COVID heat maps, opening up the entire country for full REAC inspections starting June 1.

The Credential is designed to be a helpful tool to increase your knowledge and discuss the latest changes in the industry. We welcome your feedback or suggestions on topics you would like to see addressed in future issues. This month’s edition contains relevant articles by prominent industry experts:

  • Karen Graham of Karen A Graham Consulting offers suggestions on how to get LIHTC paperwork under control.
  • Jen Brewerton of Dominium shares tips for helping residents navigate rental assistance resources.
  • In his Back to Basics series, Scott Michael Dunn of Costello Compliance reviews income and rent limit requirements for LIHTC properties, and answers common questions.

We look forward to meeting with you during the next HCCP webinar on June 9 at 2 p.m. ET.The webinar will be on “The Return of Physical Multifamily Inspections: Managing Deferred Maintenance and Safety.”

May your dreams stay big and your worries stay small as you embrace the future with hope.

With Warmest Regards,

Susan Westbrook, HCCP
Manager of Rental Assets
NC Housing Finance Agency

Stories in this Edition

7 Simple Steps to Get Your LIHTC Paperwork Under Control
Tips and Tricks for COVID Rental Assistance
Back to Basics: Income Limits
HCCP Board of Governors Spotlight: Wesley Daniel
HCCP Distributor Spotlight: Lori Reynolds
HCCP Designee Spotlight: Jen Brewerton

New Videos from NAHB Highlight Keys to Disaster Preparedness