Hello, fellow HCCPs! Welcome to the September edition of your newsletter, The Credential.
It has been an interesting year. I hope your professional work is successful for your companies and clients.
Developments in Washington impacting the affordable housing industry continue to evolve. After a long wait, the debate on tax reform or more likely, tax code refinement, appears to be ready to begin in earnest. As experts in the most successful affordable housing program in history, the LIHTC, please take notice of the debate and any discussion about changes in the tax code that could impact your work as a professional.
I repeat the advice from the last newsletter provided by our industry lobbyists and encourage you and your colleagues, clients and stakeholders to have a voice at the local level through direct engagement of congressional members and their staffs including invitations to visit LIHTC ribbon cuttings, visiting their offices, and vocal and written support of legislation. Legislators take note of what is on the minds of their constituents and you, as a leader in the affordable housing process, can do something as simple as making a call or sending an email to your local congressional representative.
Educating legislators and the public about the strong 30+-year track record of the program is important as the debate begins about tax policy. Tell your representatives to Congress what you think!
In this edition of The Credential, in our regular spotlight articles you will get the chance to learn more about HCCP Laurie Stephenson of Omaha, Nebraska and HCCP exam distributor Wayne Michael, based in Portland, Oregon.
This edition also continues our series on practical compliance topics. In the article, “Back to Basics VI: Acquisition Rehab”, you will learn some essential information on one of the perennially difficult compliance topics on which you need to have through knowledge if you are involved with rehab projects using tax credits as part of their financing structure.
Another critical topic is presented in the article: “Update on Section 42 Utility Requirements,” by HCCP exam distributor and LIHTC compliance expert A.J. Johnson.
Patricia Hensley of Bonner Carrington in Austin, Texas writes on “Identifying File Issues and the Appropriate Correction Prior to Year-end.”
You may have wondered about the role that state housing credit agencies play in the LIHTC process. Learn firsthand from Board of Governors member Matt Rayburn, who is deputy director and chief real estate development officer for the Indiana Housing and Community Development Authority. Matt has provided some insights based on his role overseeing tax credit allocations and compliance from the state agency perspective.
As a reminder, the 2017 HCCP webinars are free 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 using the promo code OT17HCCP will result in no charge and you will be registered for the webinar at no charge.
Our third webinar of the year will be presented by industry compliance expert Scott Michael Dunn of the Costello Company in South Dakota: Don’t Miss Deadlines! Create Your Compliance Calendar. The webinar will provide practical examples and information you can apply immediately in your professional life. We hope you will join us Oct. 19 at 2 p.m. ET.
Let us know how the HCCP Board of Governors can support you in your professional endeavors. Topic suggestions for The Credential or the webinars are always welcomed. Thank you to all contributors and presenters of our webinars. Your insights are highly valued by our members.
Finally, for you, our HCCP practitioners, keep up your good professional practice!
Bob Landis, HCCP
Chair, HCCP Board of Governors
In this Issue