Spectrum Enterprises, Inc.
-HUD Releases 2016 MTSP Income Limits
On 03/28/2016 HUD released the 2016 income limits. Click this link to look up the limits for your area:https://www.huduser.gov/portal/datasets/mtsp.html
LIHTC developments have a 45 day period to implement the new limits.
Note that the 2016 HUD system does not include a reference chart to allow individuals to correlate their development’s Placed In Service Date to the correct set of limits per Hold Harmless protection. This chart was included for the past several years. In an email, HUD has noted they are aware of this and working toward a solution.
Additionally, we have noted several areas do not include any data on the 50% line. We have notified HUD of this and believe the data will be restored shortly.
Spectrum has written tutorials to show exactly how a site should update their income and rent limits. This article (from 2015) utilizes the HUD Placed In Service table that is currently missing from the 2016 data but should be restored shortly.
– Save the Date May 9-11, 2016: Spectrum LIHTC Training Partnered with MREMA.