|
 
Home News Industry News HUD Issues Occupancy Requirements of Subsidized Multifamily Housing Programs

Connect with MAHMA


linkedin_group_button

facebookbutton_small

rahc_2014_logo

HUD Issues Occupancy Requirements of Subsidized Multifamily Housing Programs PDF Print E-mail

On June 23, 2009, HUD issued Change 3 to Handbook 4350.3 Rev-1, Occupancy Requirements of Subsidized Multifamily Housing Programs. The tax credit program relies upon the 4350.3, particularly Chapter 5, for guidance regarding the calculation of household income.

 

In Ohio, the Ohio Housing Finance Agency has highlighted the key changes impacting the tax credit program in a memo available here.  

 

The most significant change addresses how income is treated for households receiving Section 8 assistance. HUD has clarified that financial aid in excess of tuition should be considered when calcualting income for the Section 8 Program. Excess financial income is not allowable for purposes of the tax credit program unless the household is receiving Section 8 assistance. Change 3 includes a number of revisions to program rules applicable to the Section 8 program.  Managers of Section 8 properties are encouraged to review Change 3. 

 

The 4350.3 can be downloaded from HUD here.



Trackback(0)
Comments (0)add comment

Write comment

busy