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 every Hawaii County there will actually be no income limit changes as all 2016 limits remain lower than the 'hold harmless' year already in use.
That means that for the above programs Honolulu County and Hawaii County will continue to use 2012 limits, Kauai County will continue to use 2014 limits, and Maui County will continue to use 2011 limits.
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.
NOTE: HOME limits for 2016 have not yet been published. Continue to use 2015 HOME income and rent limits until new ones are published. HOME limits are not held harmless so it's very likely they will go down this year based on the just-published limits.
See this link: https://www.huduser.gov/portal/datasets/mtsp.html
December 30, 2016
We are holding our annual training hosted by Spectrum Enterprises and taught by Lois Churchill on February 8th, 2016.Click here to view the flier.
June 26, 2015
Please be reminded that HOME/NSP Rental Housing Compliance Status Reports are due by July 15, 2015. Beginning this year please submit to both the appropriate County housing office and electronically to Spectrum. The form is available at the HOME/NSP end of year reporting link below.
May 11, 2015
The new 2015 HOME limits have been published. Please click this blog link for more information.
March 6, 2015
The 2015 LIHTC Income Limits have been released. See this link to the HUD website.
June 9, 2015
April 24, 2015
Effective with 2nd quarter reporting, all properties with HMMF funding are to submit their unit updates not via the Excel spreadsheet used by some but via the Spectrum Software used for LIHTC reporting. Properties submitting a spreadsheet will be asked to update and submit the software database.
Bond units may be identified by checking the bond box in Part VIII of the TIC - something that should already be being done. If a unit is not a bond unit then the box won't be checked.
This will actually make things easier as your database already will be updated and ready for LIHTC submission each year!
April 8, 2015
HHFDC has published 2015 income and rent limits. You will find them in the income limits link below.
Before using the new 2015 limits be sure to check the MTSP limits to determine if your property is "held harmless" at an earlier year. For example, Honolulu County properties, with the exception of properties placed in service after 12/11/12 are held harmless at 2012 levels. Properties placed in service between 12/11/12 and 12/17/13 are held harmless at 2013 levels. Properties placed in service between 12/18/13 and 3/5/15 are held harmless at 2014 levels. Only those properties placed in service from 3/6/15 forward will use the 2015 income limits in Honolulu County.
If your property has HOME funds, the correct income limits until you hear further are the 2014 income limits. HOME does not hold income limits harmless when they decrease!
March 6, 2015
The new 2015 income limits are now available. See this link to the HUD website.
February 1, 2015
There is a new TIC available for download now. This must be used effective immediately. Please see the Required LIHTC Forms tab below.
January 5, 2015
Happy New Year! End of year has been updated for all programs and the Owner Letter has been posted. Let us know if you have questions.
December 21, 2014
Steve Rosenblatt will be in Hawaii April 21-23, 2015 for Fair Housing and his C3P Low Income Housing Tax Credit course. This link will bring you to the Spectrum Seminars website for more details.