Sunday, December 13, 2020
YOU ARE INVITED TO WATCH THIS > Mesa City Council Meeting - 12/8/2020
It's another featured 'screen-grab' of Deean Mickelson, the City Clerk - she's been popular recently.With no comments on this post, you may be inclined to watch the 40-Minute streaming video uploaded to YouTube 2 days afterwards
What's the Big Deal about December 31. 2020?
- Extending the deadline for an owner of a building with a carryover allocation to meet the 10 percent test to December 31, 2020, if the original deadline was on or after April 1, 2020, and before December 31, 2020;
- Extending the minimum rehabilitation expenditure period to December 31, 2020, if the original 24-month period ended on or after April 1, 2020, and before December 31, 2020;
- Extending the reasonable restoration period in the event of casualty loss or prior major disaster to December 31, 2020, if the original deadline was on or after April 1, 2020, and before December 31, 2020;
- Extending the transition period to meet the tax-exempt bond set-aside to December 31, 2020, if the original 12-month period ended on or after April 1, 2020, and before December 31, 2020;
- Extending the tax-exempt bond rehabilitation expenditure period to December 31, 2020, if the original two-year period ended on or after April 1, 2020, and before December 31, 2020;
- Suspending the owner requirement to perform tenant income recertifications for the period beginning April 1, 2020, and ending December 31, 2020;
- Suspending the Housing Credit allocating agency requirement to conduct compliance monitoring inspections or reviews for the period beginning April 1, 2020, and ending December 31, 2020;
- Allowing temporary closure of property amenities or common areas during the period from April 1, 2020, to December 31, 2020, in response to the COVID-19 pandemic without resulting in a reduction of the eligible basis of the building; and
- Allowing medical personnel or other essential workers providing services during the COVID-19 pandemic to temporarily occupy Housing Credit units in accordance with the emergency housing provisions of IRS Revenue Procedures 2014-49 and 2014-50.
While the notice does not address extension of the placed-in-service deadline or the noncompliance corrective action period as suggested by NCSHA in March, we will continue to press for additional IRS guidance on these issues.
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Newsroom https://www.ncsha.org/newsroom/
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HUD recently issued two new memoranda to revise, extend, and update the pair of memoranda issued on April 10, 2020, suspending certain statutory and regulatory requirements for the HOME Investment Partnership program and HOME-Assisted Tenant-Based Rental Assistance for Emergency and Short-Term Assistance in response to the COVID-19 pandemic
This week, as state housing finance agencies worked urgently to deliver federal emergency assistance in the remaining days federal rules allow, NCSHA worked relentlessly to secure additional aid...
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