On Monday, March 28, 2016,HUD released the 2016 Income Limits. To access the new income limits, visit theHUDUser web site athttps://www.huduser.gov/portal/datasets/il.html.
For HUD'smultifamily housing program, the new 2016 Income limits are effectiveimmediately.
For theTax Creditsprogram, per Revenue Ruling 94-57, income limits must be implemented on theeffective date or 45 days from the published date, whichever is later.
The 45 day implementationperiod is NOT applicable to HUD's multifamily housing programs.
New Income Limits must beentered in to your software program. In most cases, this means that you willneed to update the income limit tables in your site software. Check your incomelimit tablesand if the new 2016 limits are different, update pertinentfields.
If youdon't know how to check your income limits, refer to your softwaredocumentation, your software vendor's web resources or call your softwarevendor's customer support number.
SinceHUD has indicated that we should expect an increase in the number of Management& Occupancy Reviews (MOR) conducted in 2016, we have created a class to allowowner/agents and property managers to take a step back and review HUD'smultifamily occupancy requirements. This is not a review of basic requirements,but rather a discussion about best practices designed to help you identifycommon mistakes that may otherwise be revealed during the MOR.
Trainingincludes sample forms, notices and checklists.
To sign up for the HUDBlast,visit our web site atwww.rbdnow.com. Just enter your email address in the box in the center ofthe home page.You canview previously posted HUDBlasts from our web site athttp://www.rbdnow.com/hudblasts.htm
We also encourage you to sign-up for theListserv, so you can receive current RHIIP related information from HUDhttp://www.hud.gov/subscribe/mailinglist.cfm.You canview the RHIIP Tips Archives, under "Listserv-Multifamily RHIIP Tips" athttp://www.hud.gov/offices/hsg/mfh/rhiip/mfhrhiip.cfm
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