Time to Renew Your NCP Designation for 2022!

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December has arrived and along with it, the hustle and bustle of the December holidays and year-end to-dos!! One of the items on your list should be your 2022 National Compliance Professional designation and membership into the NCP Membership Group as it expires on December 31, 2021.

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2021 Income Limits Released

HUD published the 2021 income limits on April 1, 2021 with an April 1, 2021 effective date. These limits include the limits for HUD assisted properties as well as the limits for Housing Credit and Tax-Exempt Bond properties known as the Multifamily Tax Subsidy Properties (MTSP) Income Limits. To access the limits, click the appropriate […]

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EMC and Grace Hill Are Joining Forces

I have been quite busy thus far in 2021 and the time has come to share some very exciting news!! Elizabeth Moreland Consulting, Inc. and Grace Hill are joining forces. We’ll be sharing the news with the rest of the world later this month, but wanted to inform our valued customers in advance.

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COVID-19 Resources

Elizabeth Moreland Consulting, Inc., is committed to assisting industry professionals in managing their properties while maintaining compliance during the COVID-19 pandemic.

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HUD’s Q&A for Multifamily Housing Updated Yet Again

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Effective October 14, 2020, HUD has again updated its Questions & Answers for Multifamily Housing.

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2021 Social Security COLA Increase Announced

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On October 13, the Social Security Administration (SSA) announced a 1.3% increase in Social Security and Supplemental Security Income (SSI) for nearly 70 million Americans.

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COVID-19 Changed My Plans

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Since COVID-19 has had such a dramatic impact on our industry, Elizabeth Moreland Consulting, Inc. is keeping the doors open a bit longer. You may recall, I was slated to retire at the end of 2020, but in all honesty, I just can’t see my way clear in leaving right now.

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It’s Time to Renew Your NCP for 2021!

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Yes… you read that right! It is time to renew your NCP designation and membership into the NCP Membership Group. Normally, this would not be a big deal but this year it is.

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IRS Announces 2020 LIHTC National Pool

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On October 5, 2020, the IRS published Revenue Procedure 2020-42 announcing $3,105,001 of unused credits allocated from the national pool to 33 qualified states for calendar year 2020.

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HUD Publishes Final Rule to Implement Disparate Impact Standard

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On September 24, HUD published the final rule in regards to implementation of the Fair Housing Act’s disparate impact standard.

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CDC Issues Temporary Eviction Moratorium

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On September 1, 2020, the CDC announced an order to temporarily halt residential evictions in an attempt to prevent further spreading COVID-19.

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IRS Provides COVID-19 Related Relief for Housing Credit Properties

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The IRS issued Notice 2020-53, which provides COVID-19-related relief to issuers, owners, operators and tenants of residential rental properties financed with LIHTCs.

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IRS Reduced Minimum Number of Units for Property Inspection

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The IRS released proposed regulations in regards to Housing Credit Program monitoring requirements, returning to a previous standard of required inspection of the lesser of the applicable REAC number of 20% of the low-income units in the development.

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IRS Issues Guidance for PABs

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On May 4, the IRS issued 2 documents providing guidance for Tax-Exempt Bond Private Activity Bonds (PABs) when used with 4% credits from the LIHC program.

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HUD’s Multifamily Housing Q&A Updated Yet Again

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On May 1, HUD once again updated its Q&A for Multifamily Housing document making this the 5th update.

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HUD Publishes COVID-19 Resource for Residents Living in HUD Multifamily Housing

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On April 28, 2020, HUD released a brochure for households living in assisted and insured housing programs administered by HUD’ Office of Multifamily Housing Programs.

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HUD’s Q&A for Multifamily Housing Updated

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On April 14 and April 16, HUD updated its Q&A for Multifamily Housing document making this the 3rd and 4th update respectively. The following clarifications – in no particular order – were made…

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HUD Issues COVID-19-Related Relaxations for Several Public and Indiana Housing Programs

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On April 10, HUD issued Notice PIH 2020-05 discussing regulation waivers for Public Housing, Housing Choice Voucher, Indian Housing Block Grant and Indian CBDG program.

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COVID-19-Related HOME Waivers/Suspensions Issued in CPD Memo

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On April 10, HUD’s CPD Office issued a memo — Availability of Waivers and Suspensions of the HOME Program Requirements in Response to the COVID-19 Pandemic — providing guidance for the HOME program during the pandemic.

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IRS Publishes COVID-19 Guidance for Housing Credit and Bond Properties

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On April 8, 2020, the IRS published Notice 2020-23 providing relief for Housing Credit and Bond properties due to the COVID-19 pandemic.

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IRS Releases Guidance to Allow Partnerships to Amend their 2018 and 2019 Tax Returns

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On April 8, 2020, the IRS also released Revenue Procedure 2020-23, not to be confused with Notice 2020-23, allowing eligible partnerships to file amended tax returns for 2018 & 2019.

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NEW Course — Coronavirus & Affordable Housing

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In an effort to assist meeting the coronavirus challenges on our properties, I have put together a special course discussing the COVID-19 pandemic and strategies for protecting our affordable housing portfolios and am making it available for only $29. The course is entitled — Housing Credits 535: Coronavirus & Affordable Housing — and contains…

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2020 Income Limits Released

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Despite concerns that the 2020 Income Limits might be delayed due to the coronavirus pandemic, HUD published them today with an April 1, 2020 effective date. As per Revenue Ruling 94-57, Housing Credit income limits must be implemented on the effective date OR 45 days from the publication date, whichever is LATER. This means this […]

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CARES, Act Signed by President Trump

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On March 27, 2020, President Trump signed a $2 trillion bill known as the CARES, Act or the Coronavirus Aid, Relief and Economic Security Act.

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