Housing Program Advisor
Do you need someone to assist you in planning how to utilize and comply with your affordable housing programs? Do you want some help understanding how the housing programs you use work together? Would you like someone you can call or email on a regular basis to discuss your concerns? Email Liz to learn how for a flat annual fee, you can have an expert available to answer your questions. Liz can support you while you strengthen your knowledge of the LIHTC, HOME, Section 8, Section 236 and RAD programs as well as the Uniform Relocation Act. We offer a discount for our nonprofit clients as well as for those who register for this service when also contracting for a private training event for their company. Help is just a text away.
We can help you:
- Complete your application for LIHTC and respond to other RFPs.
- Understand the ramifications of the commitments you make when applying for funding, including LIHTC, on the overall financial structure and operation of your project.
- Lay out a plan for placing your project into service that will enable you to attract the equity you expect through your LIHTC and comply with the requirements of the other programs that support your project.
We specialize in helping owners who are planning to acquire and rehabilitate properties with existing residents. They present special challenges. We can help you:
- Create a report that tracks resident relocation and its impact on your ability to meet your credit delivery schedule;
- Plan the relocation of your residents so as to maximize the value of your LIHTC allocation;
- Comply with your requirements under the Uniform Relocation Act while still meeting your credit delivery schedule; and
- Understand when to certify your existing residents for the LIHTC program so that you meet your credit delivery schedule and qualify for any upward adjustors available in your partnership agreement.
For years we have worked with owners utilizing multiple programs to finance affordable housing. We can help you:
- Plan where to place your units covered by each program to maximize your revenue;
- Plan your lease-up so that you qualify the right residents for the LIHTC program as well as for HOME and the other programs that support your project;
- Understand what income limits to use when your residents must qualify for multiple programs;
- Know how much rent you can charge when your units must qualify for multiple programs; and
- Certify your residents for the LIHTC program so that you attract the equity you need for a successful project.
Rental Assistance Demonstration (RAD) Program
With the advent of the RAD program, owners started converting their public housing, RAP and Rent Supplement subsidies to long-term Section 8 contracts. They often utilize LIHTC, HOME and other programs in their new financial structure creating challenges for anyone trying to understand how their projects moves forward after conversion. We can help you:
- Understand how HUD requires you to apply the requirements of the project-based Section 8 (PBRA) program when you convert from public housing to PBRA;
- See the differences between the requirements for RAP and Rent Supplement and those for PBRA;
- Understand the implications for your development based on how you plan to refinance your Section 236 mortgage;
- Understand how your resident relocation requirements coordinate with and differ from those in the URA; and
- Incorporate the requirements for the LIHTC and HOME programs into your plan for converting your project to PBRA through RAD.
Section 8 and Section 236 Projects
Owners are renewing their Section 8 contracts and decoupling and/or prepaying their Section 236 mortgages while refinancing their projects. They often utilize LIHTC and HOME funds to finance the project’s renovation and extend its useful life. We can help you:
- Determine the ramifications for your project based on the option under which you renew your Section 8 contract;
- Understand the options HUD allows for owners who want to refinance or prepay their 236 mortgages;
- Understand the HUD requirements you must continue to meet after you refinance;
- Learn your tenant notification requirements;
- Determine how to integrate your Section 8 and Section 236 requirements with those for LIHTC and HOME; and
- Understand how important it is that you meet your credit delivery schedule to attract the equity you need through the syndication of your LIHTC.
The Uniform Relocation Act (URA) of 1970
Use of the LIHTC program does not by itself trigger the URA. But as soon as an owner brings in HOME funds, or other federal resources, they must comply with the URA if their plan for redeveloping their project includes resident relocation.. Owners need to understand specifically how to apply the URA within affordable housing. We can help you:
- Understand how the URA applies when your plan calls for permanent versus temporary relocation of your residents;
- Learn the additional requirements that apply when you utilize HOME funds to redevelop your project;
- Learn how the URA applies within the context of a RAD conversion; and
- How to comply with the URA while also meeting your credit delivery schedule.
- We can update the QAP or Compliance Manual for a state housing finance agency.
- We can help software companies develop an understanding of housing programs, and how they work together, enabling the creation of software to serve the industry.
- For those who need file review services, we can connect you with a company that will do a thorough and efficient job inspecting and approving your files helping to insure the safety of your credits.
Email Liz or call (800) 784 – 1009 to discuss how we can help you.
Check out the free training available on our You Tube Channel.
Stay current on the affordable housing industry by registering for our Newsletter and by reading Liz’s Blog.