Travelogue | Housing Credit Connect 2023 | Day 4 - UAs, NSPIRE, New 8823 Guide and VAWA

Post from our CEO from the Seattle Hotel hosting NCSHA's Housing Credit Connect conference.

"Hey, y'all. It's been a long day here at the Housing Credit Connect conference in Seattle, but I just wanted to add a few notes here before I retire for the night. I know that we said we would talk about four main topics: HOMTA, NSPIRE, VAWA, and the Average Income Test, I'm going to add another one because we had a very interesting panel today on utility allowances. So another thing I wanted to share that was kind of interesting is that in one state, the state of Minnesota, actually under the utility option, where the state provides you a utility allowance. They're allowing the Section 8 method, according to the HUD model, excuse me, not the HUD model, but the HUD Notice for Section 8 properties, and how utility allowances are calculated there, which is based on actual utility usage. So it was kind of very interesting to hear that. It will be interesting to see if other states are implementing the same thing. As far as NSPIRE though, we'll get back to our pre-prepared list. We heard some very interesting things. Ash from HUD talked a lot about kind of where they are with NSPIRE. And one very interesting point, guys, one of the reasons I want to get this out tonight is because there's a new Notice that was either going to come out tonight or tomorrow, and it's not out yet, so you've got to watch for it. But it's the new scoring and admin Notice from REAC on NSPIRE. So that's something definitely breaking news, you'll want to grab that notice, for all of us affected by NSPIRE. a very important topic. Another interesting point, was that a gentleman that spoke from, from NAHMA, and said, there's going to have to be 4 "T"s to succeed, and this was very interesting. "Timing" to make sure we understand NSPIRE's timing and apply that appropriately. To get "Training." So timing and training are the first two "T"'s. We need to get "Technology" in order to effectively do these NSPIRE inspections, and involve the "Tenants." So 4 "T"s to success for NSPIRE, I thought that was a very nice summary of what we need to do to prepare for INSPIRE as it comes.

Now, the panel on non-compliance, we always pay a little extra attention when the IRS talks. They're really hard at work on the 8823 Guide revision. Now this is something that is eagerly anticipated and somewhat nervously. We don't know what changes are going to be made to that Guide, things we might have liked in the past may not stand. So we're very, very interested to see what form that 8823 Guide takes. So listen carefully, watch carefully for industry updates on that point. And finally, there's the Violence Against Women Act. And I've got to tell you that really it wasn't so much the technical discussion, but the heart-rending stories of even some of the panelists that had said that they had been victims in the past and revealed that. I think it was a very difficult conversation to have but really helped us to see how important, how vitally important the Violence Against Women Act is in terms of real people. So Christine Bennet-Martin, and all the others that talk there, we appreciate your fine coverage of that material, your vulnerability, and your willingness to share so that we see the people behind why this is so necessary. So thank you so much. That's it for tonight's update. We'll look forward to tomorrow. There's one last roundtable. I think HOTMA is going to figure pretty prominently, but we'll see what other goodness we get on that one, and make sure we get tomorrow's travelogue posted. All right, thanks. Bye!"

- Scott Micael Dunn | CEO costello Compliance 

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