Select Low Income Housing Legal Issues: Multifamily Occupancy, Restrictions and Preservation
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will introduce practitioners to the basics of federally assisted and regulated multifamily rental housing. It will examine the contractual relationships between the U.S. Department of Housing and Urban Development (HUD), property owners and managers, the different forms of project-based and tenant based rent subsidy and rent restrictions under the federal Low Income Housing Tax Credit (LIHTC) program. This panel will also relate these long-term statutory programs to current statutory changes and other federal legislation relating to eviction moratorium and mortgage forbearance. This panel will also compare and contrast certain recent state law changes, including in New York State as an example.
- Owners’ responsibilities to the governmental agency providing financing or subsidies.
- Section 8 rent subsidies—many different programs, all referred to as “Section 8” how do they vary in terms of tenant eligibility, rent setting, longevity, etc.
- The resident eligibility and occupancy rules under the federal Low-Income Housing Tax Credit and the interaction with the HUD programs
- An introduction to strategies to preserve multifamily properties through the Low-Income Housing Tax Credit
- State rent restrictions and the interplay with these federal programs and New York rent regulation statutes.
The panel will review these and other issues:
- What are the major programs under HUD to provide insured multifamily rental housings and what restrictions are owners of those properties subject to?
- How can owners and property managers best utilize Section 8 subsidies?
- How is residential eligibility determined and what are occupancy rules under LIHTC?
- What restrictions should stakeholders in affordable rental housing consider in the current economic climate related to future income and potential refinance opportunities?
Richard Michael Price
Mr. Price focuses on real estate finance and regulation, affordable and rural housing and community development,... | Read More
Mr. Price focuses on real estate finance and regulation, affordable and rural housing and community development, government contracts, administrative law and legislation. He assists for-profit and nonprofit businesses and government agencies.Close
Strategic Policy Advisor
Ms. VanAmerongen is a strategic policy advisor in Nixon Peabody’s Affordable Housing practice group. She works... | Read More
Ms. VanAmerongen is a strategic policy advisor in Nixon Peabody’s Affordable Housing practice group. She works with attorneys in the firm and clients, including developers, owners, managers, and funders to craft creative solutions to issues relative to affordable housing development and preservation.Close