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Low Income Housing Tax Credit Experience

 At the present time, we are managing several residential properties that have been funded through low income housing tax credits.  We have successfully completed the rent-up for all properties in strict compliance with income limitation guidelines, provided ongoing compliance monitoring including investor reporting, and implemented a complete array of compliance-related responsibilities to ensure each property’s continuing adherence to low income housing tax credit requirements.  In order to effectively enhance our capability of ensuring ongoing compliance, we have coordinated extensive training for all staff assigned to these tax credit financed properties and established an in-house expertise within the central office at MB Management to monitor each property’s compliance on an ongoing basis throughout the year as well as providing year end reporting to meet the requirements of the Internal Revenue Service.