Hello and happy holiday season fellow HCCPs!
Welcome to the December edition of your newsletter, The Credential.
Tax reform is dominating the news in recent weeks, and it remains to be seen what a final tax bill will entail. As professionals who work with the LIHTC, proposed changes are likely to have an impact on our industry – in some versions of the legislation, as soon as January 1, 2018. Changes have happened before, throughout the 31-year history of the LIHTC, but I am confident that dedicated professionals, including the professional HCCP community, will adapt and continue to provide first-rate service to their companies and clients.
For this information-packed issue of The Credential, we are pleased to welcome again A.J Johnson, president of A.J. Johnson Consulting Services, of Williamsburg, Va. and a longstanding member of the HCCP Board of Governors Technical Advisory Group. A.J. has written an informative and in-depth article on “HUD Nonsmoking Guidance.” The regulations are discussed, and recommended actions are presented that will be helpful in managing your communities.
In our regular spotlight articles, you will have the opportunity to learn more about Keith Garavoy of Garavoy Compliance and Consulting, based in Portland, Maine. Christa Landram, senior compliance specialist/training and education manager, located in Tampa, Fla., is in our Exam Distributor Spotlight. Finally, meet Theresa Roberts, vice president of asset management with Palm Communities in Los Angeles, a recent addition to the Board of Governors.
This edition continues our series on practical compliance topics. In the article, “Back to Basics VII: Income Limits,” you will learn some essential information on one of the foundations of the LIHTC program from Scott Michael Dunn, CEO of Costello Compliance and director of policy for the Costello Companies, Sioux Falls, S.D. Scott Michael also is a member of the Technical Advisory Group to the Board.
A fascinating article, jointly written by Wes Daniel, SVP and Kerry Munchin, director of compliance, both of ConAm Management Corporation in San Diego, addresses the balance between technical perfection in LIHTC compliance versus practical needs of meeting client expectations. Wes and Kerry talk about how they reorganized their company’s approach to compliance.
Another critical topic is presented in an article that discusses a perennial concern in the industry. The author is Board of Governors member, CPA and partner at CohnReznick, Terry Kimm, in Bethesda, Md. Terry’s article, “Casualty Losses and Ability to Claim LIHTCs,” is a timely refresher on a subject that is in play as a result of natural disasters and casualty events all over the United States. Terry also provides some referrals to resources for further reading and research. Terry, along with Oke Johnson, managing director of compliance services for LEDIC Realty Company and Nicholas Czibur, CPA and manager of CohnReznick will be presenting a more in-depth presentation on this topic through our upcomin webinar on December 14 at 1:00 PM EST. The 2017 HCCP webinars are free of charge, and offer a great way to meet your continuing education requirements while learning new things about our industry and its regulations and practices. Please note: you must enter a credit card at checkout, but when you use the promo code D17HCCP, the fee is canceled and you will be registered for the webinar at no charge.
Let us know how the HCCP Board of Governors can support you in your professional endeavors. Topic suggestions for The Credential or the quarterly webinars are always welcomed. Thank you to all contributors and webinar presenters. Your insights are highly valued by our members and strengthen our credential.
Finally, my term as Chair of the HCCP Board of Governors will conclude in a few weeks. I give my sincere thanks for professional support from the NAHB staff, most especially Crystal Jackson, as well as fellow Board and Technical Advisory Group members. It is a true honor to serve in support of a wonderful credential and the highly dedicated professionals in the HCCP community. Keep up the good work!
Regards and Best Wishes,
Bob Landis, HCCP
Chair, HCCP Board of Governors
In this Issue