The Credential - June 2023

Welcome to the June edition of The Credential.

As we head into summer, there is so much happening. Outside nature is in full swing; the flowers are blooming, and the birds are chirping.

Inside, we are focused on changes coming in the way of HOTMA, NSPIRE and average income state agency policies.

On the latter, we will have a fantastic webinar June 7 at 2 p.m. EST. This panel will include Matt Rayburn from Indiana Housing & Community Development and Jennifer Schwartz with the National Council of State Housing Agencies. I am personally very excited to gain some insight into how states approach development of their average income policies and to see what is trending across the country.

In this edition of The Credential, we will hear from Scott Michael Dunn on casualty loss. This article feels very timely here in Florida as we head into hurricane season. It provides valuable information with relatable examples that demonstrate how the rules may apply to real life situations.

Kelly Wakefield contributed an article on what I believe is the most important document in the program, IRS Form 8609. The elections made on this form dictate a lot about how we operate our property. Kelly’s article discusses these elections and their impact.

Kerry Menchin is a first-time contributor and provided great insight into implementing the Violence Against Women Act (VAWA) at the site level.

Finally, Amanda Lee Gross and Gary Kirkman co-authored an article focused on correcting non-compliance. Although we hope it doesn’t occur often, understanding the steps and best practices for correcting non-compliance are critical components to the work we do.

I hope you find these articles meaningful; I did. Thank you to all of our contributors! We appreciate your expertise and willingness to share them. Please let us know if there is a topic you would like to read more about in future editions of The Credential.

In a couple of weeks, I will be heading out to Seattle for the 2023 NCSHA Credit Connect. The Pacific Northwest is such a beautiful part of the country. I look forward to seeing many of you there. For those not attending, we will connect again in the fall.

Until then, take care and enjoy the journey.

Missy Covington, HCCP
Chair, HCCP Board of Governors

Stories in This Edition

Back to Basics: Assessing LIHTC Casualty Loss - Part 2
Tax Credit 101: IRS Form 8609 - Part 1
A Brief History of the Violence Against Women Act
Identifying and Correcting Noncompliance – Average Income Test
HCCP Designee Spotlight - My Nguyen
HCCP Distributor - A.J. Johnson
HCCP Board of Governors - Laurel Macdonald

Missy Covington