Description
The U.S. Department of Housing and Urban Development (HUD) is the lead federal agency providing rental housing assistance. HUD assisted and insured multifamily rental housing often is preserved through the low-income housing tax credit, which is administered by the Internal Revenue Service (IRS). This panel will review how those programs work with project-based rent subsidy and tenant-based vouchers, and ongoing federal legislation.
There continues to be high demand for affordable rental housing, and the need for affordable rental housing, specifically developments with rental assistance, has been reaffirmed through the Covid-19 pandemic. Counsel should be up-to-date about restrictions that govern the operation of the properties and that may affect future income and ability to refinance properties.
Listen as our expert panel provides guidance on essential program structures and legal issues relating to rent subsidy and restrictions.
Presented By
Mr. Price focuses on real estate finance and regulation, affordable and rural housing and community development, government contracts, administrative law and legislation. He assists for-profit and nonprofit businesses and government agencies.
Ms. VanAmerongen is a strategic policy advisor in Nixon Peabody’s Affordable Housing practice group. She works with attorneys in the firm and clients, including developers, owners, managers, and funders to craft creative solutions to issues relative to affordable housing development and preservation.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Tuesday, September 8, 2020
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Owners’ responsibilities to the governmental agency providing financing or subsidies.
- Section 8 rent subsidies—many different programs, all referred to as “Section 8” how do they vary in terms of tenant eligibility, rent setting, longevity, etc.
- The resident eligibility and occupancy rules under the federal Low-Income Housing Tax Credit and the interaction with the HUD programs
- An introduction to strategies to preserve multifamily properties through the Low-Income Housing Tax Credit
- State rent restrictions and the interplay with these federal programs and New York rent regulation statutes.
The panel will review these and other issues:
- What are the major programs under HUD to provide insured multifamily rental housings and what restrictions are owners of those properties subject to?
- How can owners and property managers best utilize Section 8 subsidies?
- How is residential eligibility determined and what are occupancy rules under LIHTC?
- What restrictions should stakeholders in affordable rental housing consider in the current economic climate related to future income and potential refinance opportunities?
