Fundamentals of Low-Income Housing Tax Credit (LIHTC) Management provides an in-depth introduction to the low-income housing tax credit program. Since instances of program noncompliance can lead to serious financial penalties, it's more important than ever to train your staff on the complexities of this program. This class is for both new and experienced on-site staff who manage LIHTC properties, PHA staff who might be well-versed in HUD programs, but are new to the LIHTC world, and anyone interested in gaining a thorough understanding of the basics of LIHTC project management.
Participants receive an overview of the LIHTC program and discuss compliance time periods, the basics of applying for tax credits, how credits are calculated, compliance monitoring and recapture, acq/rehab and first-year issues, tenant eligibility, income calculation, rent setting, and ongoing eligibility requirements such as the Next Available Unit Rule, transfers, and inspections. Learning methods include hands on learning activities, a case study, and reference materials to assist your staff in managing LIHTC projects. Choose from our NMA certification exam or the NAHB Housing Credit Certified Professional (HCCP) exam!
Upon completion of Fundamentals of Low-Income Housing Tax Credit (LIHTC) Management, you should be able to explain and apply the fundamentals of the LIHTC program, including basic program components, calculating tax credits, understanding recapture, income calculation, tenant eligibility, rent setting, ongoing eligibility requirements, and property inspection protocol.
- Explain how the low-income housing tax credit (LIHTC) program works on a broad level
- Determine the value of tax credits for a particular project
- Identify steps necessary to avoid recapture and explain compliance monitoring requirements
- Identify and apply the correct income limits based on various factors including household size and project location
- Recognize requirements for calculating income using the HUD Handbook 4350.3(Rev-1) and other resources
- Apply the gross limit and explain how Section 8, public housing, supportive services, and rural housing services programs effect this determination
- Identify lease requirements and annual recertification requirements for the LIHTC program