December 16, 2021

LIHTC Update: Rates for January 2022

The Internal Revenue Service (IRS) issued Revenue Ruling 2022-1, which provides various prescribed rates for federal income tax purposes, including applicable federal interest rates, adjusted applicable federal interest rates, and adjusted long-term and tax-exempt rates for January 2022. As provided in the ruling, Table 4 contains LIHTC Appropriate Percentages Under Section 42(b)(1) for January 2022: Appropriate percentage for the 70% […]
December 16, 2021

HUD Announces Disaster Assistance for Kentucky Disaster Survivors

HUD announced the implementation of federal disaster assistance for areas in the Commonwealth of Kentucky affected by severe storms, straight-line winds, flooding, and tornadoes beginning on December 10, 2021, and continuing. On December 12, President Biden issued a major disaster declaration for the counties of Caldwell, Fulton, Graves, Hopkins, Marshall, Muhlenberg, Taylor, and Warren. Federal funding also is available on a cost-sharing […]
December 16, 2021

RD Multifamily Disaster Guidance in Response to Tornados in Kentucky and Other States

Given the recent disasters in Kentucky and other states in the area, please be reminded of guidelines for Rural Housing Service Multifamily properties and tenants affected by the storms. Borrowers and Management Agents in the area will be contacted by your assigned servicing specialist with guidance on how to report property damage along with emergency assistance needed for tenants. Property […]
December 16, 2021

TRACS Access and Cyber Security Awareness Training Requirements

HUD must ensure that our affordable housing stakeholders complete annual information security awareness and role-based training before gaining or keeping access rights to the Tenant Rental Assistance Certification System (TRACS) and the integrated Multifamily Access eXchange (iMAX) systems. Current users and coordinators can begin this process today, December 13, 2021, and must complete it by January 31, 2022. See the instructions […]