HUD's Office of Policy Development and Research has commissioned a study about what happened to LIHTC properties after the first 15 years, when the original use restrictions for properties that received tax credit allocations before 1990

expired, and when some tax credit properties funded after that date also were able to leave the program.  A survey of 40 randomly sampled LIHTC property owners is planned for the fall 2010.

According to HUD's notice in the Federal Register, Notice of Proposed Information Collection for Public Comment: Study of the Low Income Housing Tax Credit (LIHTC) Program After 15 Years :

"Owners play a key role in the maintenance and disposition of tax credit properties, making the final decisions on next steps with a property once it reaches the 15 year mark. The survey will collect data on LIHTC property owners' experience with the LIHTC program, gathering information that factored into property disposition decisions. Data will also be collected on whether projects were sold and whether projects continued as affordable rental housing."

HUD is inviting comments on the study.  The deadline is July 12, 2010. NAHMA will work in consultation with our Tax Credit and Regulatory Affairs Committees to determine our response. 

HUD has issued Notice PIH 2010- 18 (HA), which revises and supersedes certain guidance put forth in HUD Notice PIH 2009-51, regarding rent reasonableness requirements in the Housing Choice Voucher (HCV) program. According to HUD,

"This Notice expressly provides that the definition of "assisted unit" includes certain units where the rent and rent increases are restricted by law or court action. In addition, this Notice supersedes HUD Notice PIH 2009-51 with regard to rent reasonableness determinations for units in properties undergoing Housing Conversion Actions. In cases of a property undergoing a Housing Conversion Action, units occupied by tenants on the date of the eligibility event who do not receive vouchers may be considered assisted units if the owner chooses to continue charging below market rents to those families by offering lower rents, rent concessions, or other assistance to those families. Consequently, those units are not taken into consideration for purposes of rent reasonableness determinations."

For more information, please see Revision to HUD Notice PIH 2009-51 PHA Determinations of Rent Reasonableness in the Housing Choice Voucher (HCV) Program - Comparable Unassisted Units in the Premises.

The National Affordable Housing Management Association (NAHMA) has announced the release of the NAHMA 2010 Affordable 100, a list of the 100 largest affordable multifamily property managers, ranked by affordable unit counts. The list is available at NAHMA's website, at http://www.nahma.org/content/latestnews.html, as well as the June issue of Affordable Housing Finance magazine and June issue of Units magazine.

The Affordable 100, created in an effort to accurately determine the size of the portfolio of affordable multifamily units receiving federal subsidy in the United States, lists affordable units containing at least one of following federal subsidies: HUD Project-based Assistance, Section 42 LIHTC, HOME funds, bonds and USDA Section 515.

HUD has made a number of amendments to "Steps for Submitting a Technical Review" for REAC, which will become effective May 1, 2010. The amendments would require appeals to include photos or videos and these must be authenticated by a third-party expert.  Additionally, that expert must provide a copy of their professional license.

Please find a copy of the amendments here: http://www.hud.gov/offices/reac/products/pass/PDFs/guidelines-adj.pdf