Affordable Housing

Navigating the Highly Regulated Affordable Housing Industry

Affordable housing communities that receive funding from the U.S. Department of Housing and Urban Development (HUD) and the IRS through section 42 Low Income Housing Tax Credits (LIHTC) face tremendous obstacles when developing and maintaining properties. It’s an understatement to say that complying with the many regulations that apply to the affordable housing industry is complex. A misstep can be detrimental with repercussions that include loss of government funding and/or low-income housing tax credits and the inability to participate in future programs.

Our specialized real estate team is knowledgeable of both HUD and LIHTC compliance. They aide developers in the planning stage by helping management forecast project operations.

We help for-profit developers and not-for-profit entities with:

  • HUD audits and compliance and procedures, including REAC submissions
  • Yellow Book and single audit
  • Agreed-upon procedures
  • Mixed finance and mixed income development
  • LIHTC cost-certifications and 10% carryover certifications
  • Annual audits and tax returns for LIHTC projects

Memberships

Trust the experience of Barnes Dennig for your HUD and LIHTCH compliance. Contact us to see how we can help you tackle the challenges you face.