View in browser         Share with a friend.
June 2018 Newsletter

Every year HUD campaigns and promotes the Strong Families Initiative.  Since 2011, the months of May and June are designated as a time to bring awareness to the roles that mothers and fathers play in child development.  Citing that 75% of families living in public housing are led by single women, HUD's statistic reminds us even  more of the importance of the work that you do in providing housing.

Knowing that your residents can both be strong and vulnerable is just one of the reasons we take our work for you very seriously.  There is an innate sense of urgency when it comes to putting a safe and reliable roof over a family's head and there is a tremendous amount of work to be done.  From inspecting a rehabbed or newly constructed property for accessibility, to speedy turnarounds of resident file reviews, time is always of the essence to get it done accurately when you need it.  This is why Zeffert & Associates exists and our commitment to helping you and your residents is built right into our mission.

Your properties need affordable housing experts to inspect, audit, and train so that your staff are not only in compliance with laws and regulations, but create environments that foster Strong Families.  The business that we are in is admirable and I am proud that our company directly works for your success.  This month we focus on the Strong Family Initiative and if you would like more information on this program you can find it here.  And as always, feel free to call or email me directly with any help you may need. 
             
In this edition:


Sincerely,

Jeffrey Promnitz
Chief Executive Officer

Industry Announcements

HOME Income Limits effective as of June 1, 2018.  Using the same methodology as HUD, HOME income limits are based on median family income.  You can find the income limits for all states here.

LIHTC Income Averaging now in effect.  The revised 8609 (May 2018) can be downloaded here and it is generally accepted that the taxpayer selected minimum set-aside is established upon application.

Qualified Opportunity Zones have been designated by the Treasury Department.  This means that by investing in one of these areas you can defer tax on prior gains until December 31, 2026.  Download the entire list (the excel file from Treasury) here.  

Senate Appropriations Committee approves a 4% increase for HUD programs.  The next step is for the Senate to consider the committee's bill, which is expected to take place this summer.  You can read more of this summary from NCSHA here.  
Strong Family Initiative

by Tari Bradley, Senior Trainer

Focus:  Household Members in Eligibility

 

Across all spectrums of affordable housing, one looks to the household size and relationships with the members when determining eligibility. The focus of this month’s article is on a HUD rule that is applied, when circumstances require, in determining if a dependent of the household qualifies as a household member towards the current income limits, and when appropriate per the qualifying program, towards any allowable deductions.

 

The first step when determining income eligibility is to verify who will be residing in the unit...(continue reading here)


Question from a Student at the LIHTC Training (Columbus, OH)

Student:  “I have a tax credit property manager with an applicant that has just arrived from the Dominican Republic.  She has only ever lived with her mother in the Dominican Republic and it is our company policy to not do family landlord verifications.  What should we do to stay compliant?”

Trainer Amanda Mistretta answered:  
“There is no federal regulation in the Low Income Housing Tax Credit program that requires US citizenship.  You would want to follow your property management policy and tenant selection plan and treat the applicant as you would anyone else that did not have verifiable rental history."

---

Questions during live trainings are key opportunities for affordable housing practitioners as they spark new real-world questions, allow interaction with an expert, and develop situational awareness of daily encounters.  Zeffert & Associates is one of the most reputable educators of affordable housing in the country, a large-scale distributor of the HCCP designation, and awards specialty designations covering fair housing, rural development, HUD, and more.


Training Calendar
To register for any course below, sign up online here by selecting first the category and then your course.

If you need assistance, additional information, or would like to request a topic or location then send us an email or call (314.514.7711) and we will gladly help.  We also offer private and sponsored trainings.

The following courses are open for public registration.

Date

Course

Location

Jun 12-14

Managing LIHTC Compliance (optional HCCP designation exam)

Columbia, SC

Jun 12-14

Managing LIHTC Compliance (optional HCCP designation exam)

Denver, CO

Jun 19-21

Managing LIHTC Compliance (optional HCCP designation exam)

St Louis, MO

Jun 26-28

Managing LIHTC Compliance (optional HCCP designation exam)

Billings, MT

Jun 27-29

Managing LIHTC Compliance (optional HCCP designation exam)

Baton Rouge, LA

Jul 10-12

Managing LIHTC Compliance (optional HCCP designation exam)

Anchorage, AK

Jul 17-19

Managing LIHTC Compliance (optional HCCP designation exam)

Miami, FL

Jul 17-19

Managing LIHTC Compliance (optional HCCP designation exam)

Fargo, ND

Jul 24-26

Managing LIHTC Compliance (optional HCCP designation exam)

Kansas City, MO

Jul 25-27

Managing LIHTC Compliance (optional HCCP designation exam)

Charlotte, NC

Aug 8 - 9

Managing HOME Funds

St. Louis, MO

Aug 21-22

Managing Rural Development (optional HCM-R designation exam)

Salt Lake City, UT

Sep 11 - 13

Managing LIHTC Compliance (optional HCCP designation exam)

Chicago, IL

Sep 18 - 20

Managing LIHTC Compliance (optional HCCP designation exam)

Okemos, MI

Sep 19 - 21

Managing LIHTC Compliance (optional HCCP designation exam)

St. Louis, MO

Sep 25 - 27

Managing HUD Compliance

Wichita, KS

Oct 8 - 10

Managing LIHTC Compliance (optional HCCP designation exam)

St. Louis, MO

Oct 16-18

Managing LIHTC Compliance (optional HCCP designation exam)

Buena Park, CA

Oct 16-18

Managing LIHTC Compliance (optional HCCP designation exam)

Indianapolis, IN

Oct 22 - 24

Managing LIHTC Compliance (optional HCCP designation exam)

Boise, ID

Oct 23-25

Managing LIHTC Compliance (optional HCCP designation exam)

Oklahoma City, OK

Nov 13 - 15

Managing LIHTC Compliance (optional HCCP designation exam)

Richmond, VA

Dec 3 - 7

Managing LIHTC Compliance (optional HCCP designation exam)

Sioux Falls, SD



Quizzle

Test your knowledge on these questions...or quiz your coworker!

Question 1
Which of the following is included in annual income when calculating income for a family of five, one of whom is a disabled foster child?

A.  Income of a live-in aide
B.  Earned income from the 16-year old family member
C.  Payments received for the care of the foster child
D.  Income from the employment of a 19-year old family member

Question 2
At annual renewal household is receiving the following income:

  • David, Head of household:  $20,000/year employment income
  • Alice, Spouse:  $250/bi-weekly unemployment income
  • James, Dependent 20-year old part time student:  $350/month employment income
  • Aubrey, Dependent 15-year old child:  $425/month SSI benefit
  • Autumn, Dependent 17-year old child $250/week employment income

What is the total gross annual income?

A.  $32,132
B.  $35,852
C.  $45,132
D.  $48,852

Question 3
Jose and his pregnant wife Maria are applying for an apartment in a LIHTC building. Maria will not be working. Carly, Jose’s daughter from his first marriage, will be living with them 50% of the year. What income limit should be applied?

A.  1-person limit
B.  2-person limit
C.  3-person limit
D.  4-person limit

Quizzle Answers


Subscribe and follow
We send a monthly newsletter and an occasional supplement with important industry announcements or featured training topics, never to exceed four emails per month.  All requests for topics, questions, and comments are welcome!  Call 314.514.7711 or email.
 
       

About Us

Zeffert & Associates, Inc. is a nationwide leader of consulting, compliance, and training for property owners and managers, syndicators, and housing authorities. Established 1994.

 12101 Woodcrest Executive Drive
Suite 180
St. Louis, MO 63141
Office (866) 760-6000
Website | Email

OUR VISION is to see a nation where serving those in need of affordable housing is easier than yesterday, less restrictive today, more certain tomorrow, and possible every single day.

OUR MISSION is to support the property managers, owners, syndicators, and agencies with quality education and consulting services and to do it better than anyone else through our speed in acquiring and delivering knowledge.

OUR FOUR DEPARTMENTS

  • Utility Allowance:  Actual Use, HUD Model, and Baselines calculations
  • Inspection Services: Capital Needs Assessments, Accessibility, Design Reviews, and UPCS
  • Compliance: Tenant File Reviews, electronic and onsite
  • Training: Public, Private, Online, Speaking Engagements

Zeffert & Associates
12101 Woodcrest Executive Drive
Suite 180
St. Louis, MO 63141
www.zeffert.com
To learn why you received this and how to remove yourself from the list, see Privacy Policy

Review / edit information about you | Unsubscribe

Generated by Learn more