The Credential - March 2024

Housing Credit Certified Professional (HCCP)

Greetings and Welcome to the March 2024 edition of The Credential.

Before I jump into the outstanding articles our industry experts have put together for us, I want to first say thank you to the HCCP Board of Governors for their confidence in me and a special thank you to Missy Covington for choosing me as her vice chair in 2023. Working with and learning from Missy has been an incredible experience, and I hope it has prepared me for moving into the chair position. I also want to thank Gina Metzger for agreeing to be the vice chair this year. With Gina’s knowledge and support, and continued guidance from Missy, I’m excited and ready to take on 2024 and my role as chair of the HCCP Board of Governors.

Now on to what’s waiting for you in this month’s Credential. Our Designee Spotlight features Mandi Lewis, the 2024 HCCP of the Year. Congratulations, Mandi, you are very deserving of this honor, and we appreciate everything you bring to our board and the industry. Also in this Credential, we are continuing our Back to Basics series, but this time it’s Back to Basics … again! This first article by Scott Michael Dunn will focus on verifications and how HOTMA has changed what is now considered the “gold standard” of verifications.

You also won’t want to miss A. J. Johnson’s article on Form 8823. Although we would like to avoid ever seeing Form 8823, we understand at some point during our time working in the tax credit industry, we will likely receive one. His breakdown of Form 8823 is eye opening and helps us understand not all non-compliance is created equal.

Next, we continue our Tax Credit 101 series focusing on student rules and restrictions. Amanda Mistretta from Raymond James Affordable Housing Investments graciously jumped in at the last minute to put this article together for us. Thank you, Amanda!

And one of our favorite topics: income limits! The release of income limits each spring is highly anticipated in the affordable housing industry, but knowing what income limits to use isn’t as simple as it once was. Carolyn Metzger with the Texas Department of Housing & Community Affairs has broken it all down for us. Carolyn’s article goes hand in hand with this month’s webinar, “What Does a Site Team need to Know About Income Limits?” Wendy Quackenbush with the Texas Department of Housing and Community Affairs and Kelly Wakefield with Preferred Compliance will help us navigate our way through income limits.

Register for March Webinar

Thank you again to the HCCP Board of Governors for your confidence in me. I look forward to serving as your chair for the next 12 months.

Marie Peace
Chair, HCCP Board of Governors

Stories in This Edition

Back to Basics: Part 1 - Verifications
What Every LIHTC Professional Needs to Know About IRS Form 8823
Tax Credit 101: Student Rule Restrictions
What to Know About Income Limits
Meet Mandi Lewis, HCCP of the Year
Meet Scott Michael Dunn, HCCP Distributor
Meet Lisa Werdunn, HCCP Board of Governors

Marie Peace
Marie Peace
Chair, HCCP Board of Governors