- The July 15 applicant list contains notations explaining changes made to the original list: 2020 Second Round Applicant List – Updated July 15, 2020 and 9% Applications and Tax-Exempt Bond Financed (4%) Applications Requesting Federal and State Credits
- Information is now available on the TCAC website regarding Average Income Test Federal Election First Year Credit Information.
- The revised 2020 Credit Estimates are published on the TCAC website.
- The California Tax Credit Allocation Committee – Compliance Section has just released the updated 2020 Online Compliance Manual. It can be found at: https://www.treasurer.ca.gov/ctcac/compliance/manual/manual.pdf
- CTCAC has created the Separated and Estranged Status Affidavit which replaces the previous Marital Separation Status Verification form. The Separated and Estranged Status Affidavit is to be used for applicants and households where the a tenant might be legally married, but has not taken steps to legally separate or divorce from their spouse. This form is found on our CTCAC Compliance webpage at: https://www.treasurer.ca.gov/ctcac/compliance.asp
- There will be a webinar on how to prepare the Consolidated Annual Performance and Evaluation Report (CAPER) in the eCon Planning Suite. The webinar will be held on July 29, 2020 1:00-2:00 pm EDT. For any questions please email eConPlan.Training@Cloudburstgroup.com.
- HUD has informed PBCAs and HUD field staff that as of July 15, 2020, they will no longer be reporting or tracking COVID-19 cases on properties at the HQ level.
- On July 8, HUD issued a memo providing updated information on the allocation of funding from the CARES Act for service coordination and congregate housing services. Click here to access the CARES Act memo.
- To provide relief for Multifamily property owners, HUD has extended the audited financial reporting deadlines until September 30, 2020. This waiver is limited to entities which are required to submit the referenced annual financial information on or before June 30, 2020.
- S.4209 was introduced July 2, 2020 – protecting nonprofits from catastrophic cash flow strain – on 7/9/2020 a motion to reconsider was put forward and agreed to.
- AZ Gov Ducey has extended AZ’s eviction moratorium through Oct. 31. This Executive Order is not a total ban on evictions, although there have been issues with the judges interpretations. This EO requires the Resident to declare and prove very specific Covid-19 issues, namely quarantine, member of vulnerable population or loss/reduction of income. Effective August 21 under the new EO in cases of non-payment Residents would also need to prove they have entered into a payment plan, and that they have applied for rental assistance through a state, county, city or nonprofit organization. This does not prevent us from sending notices, nor of charging late fees. It also permits eviction regardless of Covid-19 circumstance if a health or safety concern is the cause. In other words this is not a moratorium on terminations, but rather an opportunity for affirmative defense against such notices. Evictions may be filed and judgements obtained. If a Writ of Restitution is issued and the Resident qualifies for relief the Constable will return the Writ to the judge. When the Resident is no longer eligible to relief under the EO a revised complaint may need to be filed (check with your attorney on this). In short if you need to terminate a tenancy you should proceed (within the confines of the CARES Act if you are a covered property).
- Top Democrats are asking lawmakers to consider pulling bills and to limit policy hearings as they try to finish the 2020 legislative session that has been disrupted twice by the coronavirus outbreak. The current reopening of the legislature is scheduled for July 27th giving until August 31st to consider all the bills. Nothing has been determined yet as to which bills may be pulled from consideration.