Beautiful Hawaii

State News:

April 6, 2020

Below is a link to the guidance from Hawaii Housing Finance & Development Corporation. The HHFDC is implementing processes for compliance monitoring for the safety of residents, affordable housing partners, staff and consultants during the COVID-19 Pandemic.

If you have questions please contact donna.m.ho@hawaii.gov

March 31, 2020

HUD has released the 2020 income limits. They are effective 4/01/20 and must be in use no later than 5/15/20.

To find your 2020 income limits visit: https://www.huduser.gov/portal/datasets/mtsp.html

January 1, 2020

A free one-day seminar will be conducted on February 3, 2020 at the Alohilani Resort Waikiki Beach. This seminar will be an introduction to Hawaii Housing Finance and Development Corporation’s Affordable Housing Programs. Registration starts at 8:00 a.m., and workshop begins at 9:00 a.m.

For more information please see the seminar brochure.

June 10, 2019

The 2019 HOME income limits have been published. They are effective 6/28/2019 and must be put in use immediately. Limits may be found below under the Income Limits tab.

June 10, 2019

The HHFDC 2019 Income Limits have been published. They are effective 4/24/2019 and must be in use no later than 6/08/2019. Limits may be found below under the Income Limits tab. Please remember these are only to be used as a guide.

April 24, 2019

HUD has released the 2019 income limits. They are effective 4/24/19 and must be in use no later than 6/8/19.

To find your 2019 income limits visit: https://www.huduser.gov/portal/datasets/mtsp.html

February 25, 2019

On 2/26/19 the Treasury Department will officially publish significant changes to LIHTC monitoring requirements. A copy of the publication can be found HERE

* Advance notice of file reviews and inspections will be limited to no more than 15 days.

* Same day notification of the particular units and files to be reviewed.

* The number of units and files reviewed will increase for properties with 100 or fewer units, decrease for properties with more than 100 units.

The IRS has severely limited the amount of advance notice monitoring agencies are allowed to give LIHTC property owners of upcoming file reviews and physical inspections. This is presumably because some owners have used the advance notice to make deferred repairs and improvements they otherwise would have put off. As a result, the conditions noted at the time of the inspections do not accurately reflect the conditions the tenants experience on a regular basis. The IRS believes giving Owners no more than 15 days advance notice of an inspection and/or file review will help eliminate this gaming of the system. By using same-day notice of which units/files in particular will be reviewed, the IRS believes the results of the reviews will better reflect actual conditions.

These changes present significant logistical issues for Owners, Managers, and Monitoring Agents. Allocating Agencies are required to implement these changes no later than 12/31/2020. You should review your policies and procedures now as these changes can be put in place any time before then.

January 16,2019

The February 4 seminar is nearly at capacity! If you haven't signed up yet do it soon. If you signed up via email and didn't receive a confirmation please double check to make sure we received your request. Email either lois.churchill1@gmail.com or htucker@spectrumlihtc.com

October 11, 2018

The Social Security Administration has announced the Cost-of-Living Adjustment (COLA) for 2019. The COLA will increase 2.8 percent beginning on December 29, 2018.www.ssa.gov

October 8, 2018

The 2018/2019 QAP has been published by the HHFDC. You will find it under LIHTC Qualified Allocation Plans (QAP).