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December 2018 Newsletter

There are nearly 21 million cost-burdened renters, according to a recent study by the Harvard Joint Center for Housing Studies.  A generally accepted definition of cost-burdened is spending more than 30% of your income on housing.  More than half of these paid more than 50% of income on housing.  In another study, by the National Low Income Housing Coalition, only 35% of extremely low income renters have an affordable unit available to them.  

The work that you and I do is more important - and powerful - than most realize.  And, we need each other to not only preserve, but increase the stock of affordable housing in our communities.  This time of year always carries an extra spirit of worth to what we do.  Regardless of the holiday celebrated, if any at all for some, it is still a time to renew the commitment to our mission of providing you with the speed and quality of services needed to be profitable and functional in your community.

This coming Tuesday and Wednesday we are offering an Essentials of HOME Funds webinar and there will be an opportunity to earn your HCM-HF designation (Housing Compliance Manager of HOME Funds).  Many have asked for this and we wanted to make it available before the holiday.  It is relevant to property managers, owners, decision makers, and anyone with an interest in growing their knowledge in HOME funds and combined programs.  If you're interested in registering, click here.

I wish you a happy holiday and successful New Year.

Sincerely,

Jeffrey Promnitz
Chief Executive Officer
 

In this edition:

Student Question at the LIHTC training in Forth Worth, TX

Student: If the MTSP limits go down more than one year in a row, are they still held harmless?

Trainer Ronnette: Yes. With the passing of HERA on July 30, 2008, properties that were placed in service after that date were eligible to use the MTSP income limits. The MTSP income limits used at a project never go down from one year to the next once placed in service, allowing for the owner to use the original higher limits as long as they are placed in service prior to the release of the new limits.

If a property was placed in service prior to HERA, the lowest rent limits are established with the Gross Rent Floor election made by the owner; either the allocation date or placed in service date.

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Zeffert & Associates is one of the most reputable educators in the industry, a large-scale distributor of the HCCP exam, and awards specialty designations covering fair housing, rural development, HUD, and more.


Training Calendar

Select the city to register or view the the complete calendar here.  If you have questions or would like to request a topic, location, or private event then email or call (314.514.7711) and we will gladly help.  Note:  Locations and dates subject to change.

Date

Course

Location

Jan 15 - 17

Managing LIHTC Compliance
(optional HCCP exam)

Jacksonville, FL

Jan 22 - 24

Managing LIHTC Compliance
(optional HCCP exam)

Shreveport, LA

Jan 24

Back to the Basics
Partnership:
St. Louis Apartment Association

St. Louis, MO

Jan 29 - 31

Managing LIHTC Compliance
(optional HCCP exam)
Sponsor: Wisconsin Council for Affordable and Rural Housing

Milwaukee, WI

Jan 31

LIHTC Workshop
Private Event

St. Louis, MO

Feb 12 - 14

Managing LIHTC Compliance
(optional HCCP exam)

Columbus, OH

Feb 12 - 14

Managing LIHTC Compliance
(optional HCCP exam)

Phoenix, AZ

Feb 20 - 22

Managing LIHTC Compliance
(optional HCCP exam)
Sponsored by Nevada Housing Division

Las Vegas, NV

Feb 20 - 22

Managing LIHTC Compliance
(optional HCCP exam)
Sponsor: Arkansas Development Finance Authority

Little Rock, AR

Feb 26 - 28

Managing LIHTC Compliance
(optional HCCP exam)

Albuquerque, NM

Feb 26 - 28

Managing LIHTC Compliance
(optional HCCP exam)

Birmingham, AL

March 12 - 14

Managing LIHTC Compliance
(optional HCCP exam)

Sacramento, CA

March 12 - 14

Managing LIHTC Compliance
(optional HCCP exam)

Saint Louis, MO

March 19 - 21

Managing LIHTC Compliance
(optional HCCP exam)

Pittsburgh, PA

March 19 - 21

Managing LIHTC Compliance
(optional HCCP exam)

Chicago, IL

March 26 - 28

Managing LIHTC Compliance
(optional HCCP exam)
Sponsor: Colorado Housing and Finance Authority; and Apartment Association of Metro Denver

Denver, CO
 

March 26 - 28

Managing LIHTC Compliance
(optional HCCP exam)

San Antonio, TX

April 9 - 10

Managing RD Compliance
(Optional HCM-R Exam)

Albuquerque, NM

April 9 - 11

Managing LIHTC Compliance
(optional HCCP exam)

Kansas City, MO

April 16 - 18

Managing LIHTC Compliance
(optional HCCP exam)

Charlotte, NC

April 16 - 17

Managing RD Compliance
(Optional HCM-R Exam)

Shreveport, LA

April 18

Essentials of the LIHTC Program

Corinths, MS

April 23 - 25

Managing LIHTC Compliance
(optional HCCP exam)

Atlanta, GA

April 23 - 25

Managing LIHTC Compliance
(optional HCCP exam)

Indianapolis, IN

April 30 - May 1

Managing RD Compliance
(Optional HCM-R Online Exam)
Sponsor: Wisconsin Council for Affordable and Rural Housing

Madison, WI

May 7 - 9

Managing HUD Compliance
(optional HCM-H exam)

Richmond, VA

May 8 - 10

Managing HUD Compliance
(optional HCM-H exam)

St. Louis, MO

May 14 - 16

Managing LIHTC Compliance
(optional HCCP exam)

San Diego, CA

May 14 - 16

Managing LIHTC Compliance
(optional HCCP exam)

Boston, MA

May 21 - 23

Managing LIHTC Compliance
(optional HCCP exam)

Troy, MI

May 21 - 23

Managing LIHTC Compliance(optional HCCP exam)

Tucson, AZ

May 29 - 31

Managing LIHTC Compliance
(optional HCCP exam)

Des Moines, IA

May 29 - 31

Managing LIHTC Compliance
(optional HCCP exam)

Fargo, ND


Quizzle

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

Question One

An applicant lists on their application the existence of a rental property that is co-owned with a brother. It is verified that both parties have equal ownership and that the rental income is shared equally. The home has a current market value of $150,000 and a mortgage balance of $140,000, and anticipated costs to sell being  $12,000. Annual net rental income is $12,000.  The annual income for this household is:

a.  $6,000
b.  $12,000
c.  $21,000
d.  $20,280

Question Two

True or False - When a household is receiving SS and SSI payments on a Direct Express Debit Card, the card is treated as a savings account with the current balance on the card being verified and included with the total assets of the household.

Question Three

In determining the total assets for Scott and Carla Jones, the manager receives verifications for the checking account, listing a current balance of $800.00 and a 6-month average balance of $900 and the savings account listing a current balance of $3800.00 and 6-month average of $5000.00. Scott’s annuity is verified to have a current value of $250,000.00, and pays quarterly dividends of $600.00. The total market value of the assets equals:

A.  $254,600
B.  $309,000
C.  $4,700
D.  $4,600

Quizzle Answers

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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:  RD, HUD Utility Schedule, HFAs, Baselines
  • Inspection Services: CNAs, 504 Accessibility, Design Reviews, UPCS
  • Compliance: Electronic and Onsite File Reviews
  • Training: Public, Private, eLearning, Speaking Engagements

Zeffert & Associates
12101 Woodcrest Executive Drive
Suite 180
St. Louis, MO 63141
www.zeffert.com
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