Month: February 2020

Last month, I posted a new course — Housing Credits 525: Understanding the Average Income Test at the Housing Credit Training Center with a special introductory price of $149 which expired on 3/31/2020. In an effort to assist our industry in this crazy time, we are extended this sale price for another month.

Elizabeth has recently updated Housing Credits 300: Compliance Basics for INDIANA Properties! The new version of this course is now available and includes all the recent changes made to IHCDA’s (Indiana Housing & Community Development Authority) compliance manual including AIT and VAWA.

On February 18, HUD published the income limits for properties that elected the Average Income Test minimum set-aside option. HUD’s numbers include limits for every increment from 20% to 80% AMGI in each state and metropolitan statical area and bases them on the fiscal year 2019 Multifamily Tax Subsidy Project income limits.

On January 28, HUD released FHEO Notice 2020-01– Assessing a Person’s Request to Have an Animal as a Reasonable Accommodation Under the Fair Housing Act — providing new guidance when receive an assistance animal request.

On January 29, the IRS published Revenue Ruling 2020-04 clarifying the determination of income limits under the LIHC program’s Average Income Test. The ruling indicates we are to continue to base our income limits on HUD’s very low-income limit (VLI or 50% AMGI) , specifically stating…