Does anyone have a project where they are considering using the income averaging set-aside?
Topic Author
Colin R. Ferguson
6 years 3 months ago #21461
by Colin R. Ferguson
Does anyone have a project where they are considering using the income averaging set-aside? was created by Colin R. Ferguson
So, does anyone have a project where they are considering using the income averaging set-aside? What are your concerns?
Topic Author
Nicholas Blau
6 years 3 months ago #21462
by Nicholas Blau
Replied by Nicholas Blau on topic Does anyone have a project where they are considering using the income averaging set-aside?
We have a couple projects that we are considering it. No real concerns as of yet.
Topic Author
Maureen Freehill-Demarest
6 years 3 months ago #21463
by Maureen Freehill-Demarest
Replied by Maureen Freehill-Demarest on topic Does anyone have a project where they are considering using the income averaging set-aside?
We’re looking at it for a couple upcoming 4%projects. No concerns operationally. Some concerns on possible restrictions to be imposed locally.
Topic Author
Maureen Reyer-Morley
6 years 3 months ago #21464
by Maureen Reyer-Morley
Replied by Maureen Reyer-Morley on topic Does anyone have a project where they are considering using the income averaging set-aside?
Just finished the class with CHFA. It has mostly no direction from IRS and Colorado is not
Implementing till 2019.
Implementing till 2019.
Topic Author
Maureen Freehill-Demarest
6 years 3 months ago #21465
by Maureen Freehill-Demarest
Replied by Maureen Freehill-Demarest on topic Does anyone have a project where they are considering using the income averaging set-aside?
yeah the lack of direction is making everyone twitchy, which is a shame because it would be great to open up the income bands and prove more opportunities on the high and low end!
Topic Author
Maureen Reyer-Morley
6 years 3 months ago #21466
by Maureen Reyer-Morley
Replied by Maureen Reyer-Morley on topic Does anyone have a project where they are considering using the income averaging set-aside?
According to what I have heard it will be best on 100% properties as with mixed properties you have to decrease to the deeper % if a household hit 140%. So you have to rent the next available market at the deeper TC price. There is discussion of not allowing floating eligibility because owners have to designate the unit prior to leasing.
Topic Author
Connie Mathes
6 years 3 months ago #21467
by Connie Mathes
Replied by Connie Mathes on topic Does anyone have a project where they are considering using the income averaging set-aside?
We have a few just starting. No agency guidelines out yet on how to implement!
Topic Author
Maureen Reyer-Morley
6 years 3 months ago #21468
by Maureen Reyer-Morley
Replied by Maureen Reyer-Morley on topic Does anyone have a project where they are considering using the income averaging set-aside?
There is a class this Friday at Colorado Housing and Finance Authority. We are going for it on a property I took over in June.
Topic Author
Colin R. Ferguson
6 years 3 months ago #21469
by Colin R. Ferguson
Replied by Colin R. Ferguson on topic Does anyone have a project where they are considering using the income averaging set-aside?
I'd be interested to know if they will be any additional state regs on top of the federal ones. Let us know,, please!
Topic Author
Constantino Morelli
6 years 3 months ago #21470
by Constantino Morelli
Replied by Constantino Morelli on topic Does anyone have a project where they are considering using the income averaging set-aside?
One of my favorite go to sites for news and resources published an article on state guidance. Here’s the link.
ajjcs.net/paper/main/2018/07/05/states-b...-set-aside-guidance/
ajjcs.net/paper/main/2018/07/05/states-b...-set-aside-guidance/