June 20, 2016
Approved HOME and NSP status reports, as well as instructions, have now been posted. Please download, complete, have owners sign, and submit no later than 7/15/16 with the rent approval. Original may be sent to the County HOME coordinator with an electronic copy to Spectrum. Please do not submit hard copies to us.
May 27, 2016
The annual HOME end of year submission is due by 7/15/16. A draft HOME/NSP status report with a complete set of instructions has been developed and is available below. Please hold of on submitting until the draft report has been finalized.
Please submit the current version. You will find the status reports (one for each HOME and NSP) as well as instructions under the HOME/NSP End of Year Reporting tab below.
May 16, 2016
On Friday, May 13, 2016 HUD published the 2016 HOME and NSP income and rent limits. They are effective on June 6, 2016 and must be put in place by that date. There is no grace period for instituting HOME limits.
Please remember that there is no "hold harmless" for HOME limits. If the limits in your County have decreased you must lower your limits for HOME units accordingly for move-ins and lease renewals as of 6/6/16.
April 12, 2016
On March 3, 2016 the IRS posted final regulations regarding utility allowance submetering in the Federal Register. Please remove Section 2.6 from your LIHTC Compliance Manual and replace with pages found here. The Federal Register with the final regulations may be found here.
March 29, 2016
HUD published 2016 income limits on 3/28/16 with a 3/28/16 effective date. For LIHTC, HMMF, RHRF, DURF there is a 45 day grace period to institute the new limits. However, for many properties there will actually be no income limit changes as 2016 limits remain lower than the 'hold harmless' year already in use.
Please check your placed in service year to determine if the 2016 limits are higher than limits you are currently using. Newer properties are obviously not able to use 2011, 2012, or possibly even 2014 limits so would not be "held harmless" at those levels.
For Section 8 there is no hold harmless and also no 45 day grace period. New limits must be put into place immediately for Section 8.
See this link: https://www.huduser.gov/portal/datasets/mtsp.html