Aspire to Average! - Part 3

Benefits & Challenges that Income Averaging Presents We took a few-week break on this topic while we conducted several training sessions for state and investor clients and a very well-attended webinar for a management company on the topic. We came back with several great questions from these sessions to discuss here. On March 23, 2018, an omnibus spending bill, the Consolidated Appropriations Act of 2018, contained provisions that made significant changes to the Housing Tax Credit program. One of these provisions is a new minimum set-aside, which the law refers to as the Average Income Test. This series of articles discusses common questions about this option, what we know about it, and ques

HUD Publishes FY 2018 HOME, HTF and Other CPD Program Income Limits

HUD has released the FY 2018 Rent Limits and Income Limits for HOME Investment Partnerships Program (HOME) and Housing Trust Fund (HTF) . All updated limits are effective as of June 1, 2018 and should not be used until then. They are available on the HUD Exchange at the links below: 2018 HOME Income Limits 2018 HOME Rent Limits 2018 HTF Income Limits 2087 HTF Rent Limits Limits have also been published for the CDBG, HOPWA and NSP programs. These can be found in the "Related Materials" menu HERE. HUD noted that the HOME and HTF program income limits in the CPD Income Eligibility Calculator have not been updated and will remain the 2017 income limits until the new 2018 limits are in effect. A

Quiz 04/30/2018: HUD Student Rules

1. In order to be a dependent for HUD purposes, a child must be a tax dependent. True or False 2. Students of any age could trigger an ineligible HUD student household. True or False 3. An 18 year old high school student will not trigger an ineligible HUD student household. True or False 4. When a HUD property is also funded by Tax Credits, BOTH program student rules must be applied. True or False CLICK HERE for answers to this week's quiz

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