DESCRIPTION
Get an Understanding on Who Can Develop, Own and Manage Section 236 Properties.
The moderate and low-income tenants have been provided with new and rehabilitated rental housing under the Section 236 Rental Assistance Program. This program was created in 1968 to improve the country's existing housing supply, along with other housing proposals. It merged with the Federal Housing Administration mortgage insurance with the usual tax benefits for residential development, special tax benefits for moderate and low income housing, and a direct mortgage interest subsidy. This mixture of subsidies and mortgage term of 40 years resulted in much lower rents that could have been possible in conventionally financed projects.
Section 236 has been essential in supplying housing at a time when the supply of moderately priced rentals for moderate income families was dwindling. Section 236 construction has completed and the Department of Housing and Urban Development (HUD) has declined to make any new commitments under it. However, the present public policy provides housing assistance to low, middle and upper income household and also benefit from tax expenditures for mortgage interest deductions and tax benefits for rental housing. The housing subsidy costs has not been analyzed properly as small considerations have been given to long-term costs or indirect subsidies. Alternatives to construction continue to be stressed primarily because of short-term cost savings.
This webinar on Section 8 Compliance Update for Multi-Family Housing will cover all of the basics and including recent updates to the Section 8 program. It will be “real world” with examples and allowing time for specific questions.
This session by our expert speaker Paul Flogstad will provide you with real-world solutions that have worked and not just textbook answers on the Section 236 Housing Program. In this real-world course, Paul will be sharing his many experiences with you to enhance the learning and provide you with a vision to have a serious view of your property and make it a success.
Session Highlights:
- How the Section 236 Housing Program works
- Understanding the subsidy mechanism
- Who may develop and own - profit or non-profit
- Use restrictions
- Who is involved with this program
- Key Regulatory features
- Major Applicant and Tenant Issues
- Understanding who can develop, own and manage Section 236 properties
- Provide specific guidance on program compliance including:
- Waiting lists
- Eligibility
- Preferences
- Screening
- Discrimination
- Procedural protections
- Rents
- Annual Income and exclusions
- Recertifications
- Utility allowance
- Grievance procedures
- Evictions and Terminations
Who should attend?
- Property Managers
- Property owners
- Maintenance Staff
- Lenders
- Realtors
- Housing Authority Staff
