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Association News
Join the experts for a webinar, Navigating LIHTC Compliance: Ten Triggers That May Cause Compliance Audit Based on Findings from a Fair Housing Tester, on Wednesday, May 24, beginning at 2:00 p.m. Eastern and earn SHCM credential continuing education units. The webinar will provide 1.5 hours of instruction and include a 30-minute Q&A session. It is designed for property managers, developers, compliance officers, housing consultants, investors, and other professionals involved in the Low-Income Housing Tax Credit (LIHTC) and affordable housing projects. The cost is free to current SHCM-certified professionals and $150 for non-SHCM professionals. The LIHTC program is an essential resource for affordable housing development and a key compliance concern for property managers and developers. Ensuring Fair Housing compliance can be challenging, especially when facing the complexities of the LIHTC program. With the potential risks of compliance audits and penalties, understanding the factors that may trigger a Fair Housing audit is crucial for professionals in the industry. The expert speakers, Deborah Gershen of The Gershen Group and Heather Wezensky of Seldin LLC, will provide valuable guidance on navigating LIHTC compliance and avoiding audit pitfalls, enabling you to maintain a fair and equitable environment for applicants and residents. Participants should expect the following key takeaways:
To register, visit, https://naahq.zoom.us/webinar/register/WN_jAzEOOYAQUqYoS23hQx24Q#/registration For registration questions, contact Chris Mahoney at the NAAEI, cmahoney@naahq.org. The deadline for nominating a property for one of NAHMA’s 2023 Affordable Housing Vanguard Awards is fast approaching. The deadline is June 2, and the application can be downloaded from the Vanguard Award webpage. The Vanguard Award recognizes new, quality multifamily affordable housing development and major rehab. The award pays tribute to developers of high-quality, affordable housing; demonstrates that exceptional new affordable housing is available across the country; reflects the creativity and innovation that must be present to create superior properties given the financing and other development challenges; highlights results of private-public partnerships required to develop today’s affordable housing; and shares ideas for unique design and financing mechanisms with industry practitioners to further stimulate creative development in the affordable multifamily industry. Your community could be one of NAHMA’s next Vanguard winners. Start working on your application today. The Affordable Housing Vanguard Awards winners will be recognized at an awards ceremony at the NAHMA fall meeting in October 2023 in Washington, D.C.
The two national associations sponsoring the Specialist in Housing Credit Management (SHCM) certification program invite your company to become a Specialist in Housing Credit Management Company, a corporate designation explicitly created to honor management companies that successfully maintain a significant portion of their properties and staff to the high standards of the SHCM certification program. The SHCM program, developed especially for management companies involved with properties developed and operated under the Low-Income Tax Credit (LIHTC) program, is sponsored by the National Affordable Housing Management Association (NAHMA) and the National Apartment Association Education Institute (NAAEI). Earning the SHCM Company designation publicly demonstrates that the company is among the finest managers of LIHTC housing in the industry. Event Calendar
Congress
Affordable housing champions in Congress introduced the Affordable Housing Credit Improvement Act (AHCIA) of 2023 on May 11 to strengthen and expand the Low-Income Housing Tax Credit (Housing Credit). The bipartisan legislation is sponsored by Sens. Maria Cantwell (D-WA), Todd Young (R-IN), Ron Wyden (D-OR), and Marsha Blackburn (R-TN), and Reps. Darin LaHood (R-IL-16), Suzan DelBene (D-WA-01), Brad Wenstrup (R-OH-02), Don Beyer (D-VA-08), Claudia Tenney (R-NY-24), and Jimmy Panetta (D-CA-19). The House version was introduced with over 60 bipartisan original cosponsors, in addition to the leads. Article courtesy of The ACTION Campaign
Green Building
On April 19, the Environmental Protection Agency released a detailed implementation framework for its new Greenhouse Gas Reduction Fund (GGRF), authorized by the Inflation Reduction Act (IRA), which will invest $27 billion to finance projects that reduce greenhouse gas emissions and air pollution. The implementation framework provides detailed descriptions of program design, grant requirements, and application evaluation factors in advance of the publication of formal Notices of Funding Opportunities for the various GGRF components, anticipated as early as June. Article courtesy of National Council of State Housing Agencies
HUD-Related Activities
On May 3, HUD allocated $382 million to states from the national Housing Trust Fund (HTF), which provides a source of capital funding to increase and preserve the supply of housing for people with the lowest incomes, including those experiencing homelessness. Funding for HTF comes from a modest contribution of new business income from the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, rather than federal appropriations. Article courtesy of National Council of State Housing Agencies
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NAA Apartmentalize June 7-9
