Office of Portfolio Management
Compliance Monitoring & Asset Management
May 16, 2016
HUD RELEASES HOME RENT  
AND INCOME LIMITS FOR 2016

On Sunday, May 15, 2016, HUD released HOME Rent and Income Limits. Portfolio Management is reviewing the limits and will publish guidance and updated forms after review. The effective date for the new limits is June 6, 2016 for Owners to implement the new Rent and Income Limits at their communities.

HOME/NSP project owners should review rents to ensure that their sites do not have rents that exceed the applicable income limits.

The Compliance Team is working to update the Rent Approval Worksheet with the new rent and income numbers. It will be posted on the website when completed. Until the new Rent Approval Worksheet is updated, no new requests for increases will be accepted.  
 
To review the limits, please click here:
HOME Income Limits
HOME Rent Limits

Please direct questions to [email protected]

Previous Notifications
GEORGIA HOUSING SEARCH LISTINGS
All projects with DCA funding (LIHTC, HOME, NSP, TCAP et al.) must be listed on Georgia Housing Search.( http://www.georgiahousingsearch.org/ )

   

Failure to have all projects listed on Georgia Housing Search may result in a point deduction during the upcoming competitive round. 

Form Updates Posted to Website
The Compliance Department has posted updates to several forms on the website. Updates include:
  • HOME Lease Addendum
  • New LIHTC Student Form and Child Support
  • An updated Employment Verification

Questions about the forms? Email us at [email protected] .   

8609s Must be Submitted
to DCA Electronically

Effective immediately, please submit an electronic copy of executed Form(s) 8609 with a completed Part II to
Include the project number, project name (abbreviated) and 8609 in the email subject line;

 (example: ##-### project name, 8609)


The submission of the completed Form(s) 8609 to DCA must be made no later than the project owner's filing of such forms with the IRS.

This notice covers all projects going forward as they claim credits for the first time.  
 
HUD Releases 2016 Income Limits
HUD has published the 2016 income limits for Multi-Family Tax Credit Subsidy Projects (MTSP) and Section 8 Programs effective March 28, 2016.  The limits may be found here:  https://www.huduser.gov/portal/datasets/mtsp.html

The Georgia Department of Community Affairs is committed to providing all persons with equal access to its services, programs, activities, education and employment regardless of race, color, national origin, religion, sex, familial status, or disability.
  
For reasonable accommodations or alternate format information please contact [email protected]
 

wire-bound-pad.jpg
Quick Links 
 
Georgia Department of Community Affairs
Housing Finance and Development Division
60 Executive Park South, NE
Atlanta, GA 30329
404-679-4840