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HUD Releases FY 2019 Income Limits

On Wed., April 24th, the U.S. Department of Housing and Urban Development (HUD) released the 2019 income limits. For HUD's Multifamily Housing programs, the FY 19 income limits go into effect on April 24th, meaning that all new certifications effective April 24, 2019 will include the new income limits. These programs include Public Housing, Project-Based Rental Assistance (PBRA) Section 8, Section 8 Housing Choice Vouchers, and Section 202/811 Project Rental Assistance Contracts (PRACs). The FY 19 income limits are available here. Income limits for the Low-Income Housing Tax Credit (LIHTC) program may be found here. These may be implemented within the next 45 days, meaning they must be in effect by June 8, 2019.

If you're interested in learning more about the LIHTC program, we will be holding two very in-depth sessions on the topic at the LeadingAge NY Annual Conference & Exposition, which is being held from May 20th to 22nd in Saratoga Springs, NY. One session, Low-Income Housing Tax Credits 101, will cover the basics of the LIHTC program and will be extremely valuable for anyone looking to expand or begin to develop their affordable housing portfolio with this extremely valuable resource. The second session, "What Now? LIHTC Dispositions at Year 15," will provide an overview of what happens when you reach Year 15 of your tax credit compliance period and will feature Jim Bowman, the former president and CEO of the National Affordable Housing Trust. Please consider joining us for these exciting sessions if you're not already registered!

Contact: Sara Neitzel, sneitzel@leadingageny.org, 518-867-8835