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'Good Cause' Required to Terminate Lease

Lease Nonrenewal Procedure: Don't Expose Yourself to a Lawsuit

A common scenario in tax credit site management is the household that becomes uncommunicative at recertification time. Failure to recertify is one of the most common reasons for not renewing a tax credit household's lease. The nonrenewal procedure is a necessary step to ensure that the unit stays in compliance, but it can be a sensitive issue for all concerned. The best safeguard against objections to lease nonrenewal can be found in the lease itself. Tax credit leases include language or an ...

Four Tips for Maintaining Effective Waiting Lists

Most tax credit sites keep some type of prospect waiting list. HUD -subsidized programs, such as Section 8 or Section 236, require a written resident selection plan, which must follow HUD guidelines [HUD Handbook 4350.3., Ch. 4, Sec. I]. But even if not required by HUD or your state housing agency, keeping detailed waiting list records helps to show that you've been actively marketing your units, and it offers evidence to dispel potential discrimination claims. Tax credit management consultan...

Send Nonrenewal Notice for Failure to Recertify

Dot, Hud, and Epa Form Interagency Partnership

The US Department of Transportation, Department of Housing and Urban Development, and Environmental Protection Agency have joined forces to create an interagency Partnership for Sustainable Communities to help improve access to affordable housing, more transportation options, and lower transportation costs while protecting the environment in communities nationwide. The partnership has outlined six "livability principles" that will act as a foundation for interagency coordination: 1. Provide ...

Energy-Efficient Improvements Cut Costs, Boost Revenues

Last summer, the IRS changed its rules regarding utility allowance methodology. The final regulation, which amends Section 1.42-10 of the Code, provides owners with five methods of determining the utility allowance at an affordable housing site, says tax credit expert Andrew Seelye. HUD's Office of Public and Indian Housing (PIH) was recently presented with an Energy Star Special Recognition Award for promoting the use of energy-efficient appliances in public housing units, and for encouragin...