The Credential - August 2019

August 2019

Message from the Chair

Welcome to the August 2019 issue of The Credential.

In this month’s edition, we explore some fundamental topics that affect both the Low-Income Housing Tax Credit (LIHTC) program and many other affordable housing programs. The LIHTC program has evolved and taken on many new requirements since its inception in 1986. We often find ourselves having to apply rules that used to only exist in the “other” programs.  

AJ Johnson provides an excellent example of this regarding Tenant Selection Plans. A Tenant Selection Plan has long been considered an industry best practice, but in recent years, different housing finance agencies now require a Tenant Selection Plan for the LIHTC program. Even if your state agency doesn’t require one, it is important to understand Tenant Selection Plans and their basic elements.

Christine Bennett-Martin provides another great example of an issue that goes beyond the LIHTC program: assistance animals and reasonable accommodations. The frequency of these requests has increased over the years, and people have been skeptical of their authenticity. Christine lays out the groundwork for understanding the issue, which can become an expensive 8823 issue if you are found in violation of the Fair Housing Act.

Scott Michael Dunn brings us back to the basics of the LIHTC program with a look at income limits. After pouring through the income limits released by HUD in April, everyone should have implemented those changes by the time you read this article. However, a refresher on how income limits are determined for your project is always helpful as mistakes are just too costly.  

As always, you will find the Board of Governors Spotlight, Distributor Spotlight and a Board of Governors Spotlight. We think it is important to bring attention to the wonderful individuals associated with the HCCP designation. Please take a few minutes to read through these spotlights and get to know some great HCCPs!

On Aug. 22, we will host the webinar, “Accessibility Requirements for Multifamily Housing: Myths and Facts.” We are looking forward to exploring this important topic with you.

I hope you enjoy this issue of The Credential. Please don’t hesitate to contact us if you need more information or have a specific question.

Sincerely,
Oke Johnson, HCCP
LEDIC Realty Company, LLC
Chair, HCCP Board of Governors

Stories in this edition:

Tenant Selection Plans: An Overview of Basic Elements
Assistance Animals in Affordable Housing
Back to Basics 2: Income Limits
HCCP Designee Spotlight
HCCP Board of Governors Spotlight
HCCP Distributor Spotlight