HUD published the 2024 Income Limits, which determine eligibility for assisted housing programs, including the Public Housing, Section 8 project-based, Section 8 Housing Choice Voucher, Section 202 housing for the elderly and Section 811 housing for persons with disabilities programs, as well as Multifamily Tax Subsidy Project (MTSP) income limits that determine eligibility for LIHTC and tax-exempt private activity bond (PAB)-financed properties.
HUD implemented it’s new ten percent ceiling on the annual cap for Very Low-Income (VLI) –which means the income limit for properties that use VLI, including LIHTC and PAB-financed properties, will not be allowed to increase by more than ten percent, unless a LIHTC development is eligible for HERA Special, which is not subject to the HUD cap. The new income limits are effective April 1 and, in the case of decreasing income limits, must be implemented by May 16.
The White House announced new appointments by President Biden to the Community Development Advisory Board (the Advisory Board), a 15-person federal advisory committee to the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).
HOME Investment Partnerships Program (HOME) grants are subject to the grant closeout requirements at 2 CFR 200.344, which require all grants to be closed out within one year of the end of the grant’s period of performance.
Novogradac announced it is providing an additional benefit for LIHTC stakeholders. In addition to Novogradac’s LIHTC equity pricing page, which provides a nationwide average of equity price per credit, a new page, available upon request, offers data for regions and some states.
The U.S. Department of Housing and Urban Development published a notice in the Federal Register establishing 2025 difficult development areas (DDAs) and qualified census tracts (QCTs) for LIHTCs.
