HUD has been required to upgrade the security of TRACS submissions. All software that submits to TRACS must be upgraded to TLS v1.2 by September 3, 2018. Submissions not meeting this requirement will be rejected after this date. For more information, click Here.
The Arizona Department of Housing is providing notice that an LIHTC property is seeking a Qualified Contract for acquisition from any buyer(s) who will continue to operate the property as affordable through the extended use period in accordance with the Land Use Restriction Agreement and Section 42 of the Internal Revenue Code. Please download the Information Bulletin for more info.
In response to the comments received regarding income averaging at the focus group held in Tucson, the Arizona Department of Housing has scheduled an additional focus group immediately prior to the Phoenix focus group on September 5, 2018 to discuss this new provision in the Internal Revenue Code. Please download the Information Bulletin.
California AB-2219 has been passed by both houses and signed by the Governor. This bill requires Landlords to accept most third party payments for rent made on behalf of tenants. The bill allows the Landlord to require a statement from the third party payer that acceptance of payment does not grant rights of tenancy to the third party payer. Thanks to AHMA-PSW advocate Ron Kingston for his advocacy to amend this bill to better reflect the needs of the housing industry. To view the full bill click Here.
AHMA-PSW advocate Ron Kingston will be at our October membership meeting to discuss the upcoming California elections and the potential effects on the affordable housing industry. Don’t miss out!