On January 1, 2024, HUD will implement the most comprehensive changes to the way HUD properties determine eligibility and calculate income and rent since 1981 when Congress raised the rent cap from 25% to 30% of Adjusted Income.  The changes are expected to have a ripple effect on other affordable housing programs including Rural Development and the Low Income Housing Tax Credit and HOME programs.  Find out the most significant changes, what guidance HUD has provided to date, and when you will need to start following the new rules.

Students will gain basic understanding of the following and other changes:

• Asset limitations, verification and imputing income
• Income and Asset Inclusions/Exclusions
• Medical Expense/Allowance
• Dependent Allowance
• Elderly/Disabled Family Deduction
• Interim Recertification triggers
• Hardship Exemptions and Phase-ins
• Form changes
• Use of EIV
• Students will identify which rules apply to which programs
• Students will learn how the deadline could effect their current work

Speaker(s)

Gwen Volk

Gwen Volk has worked in the affordable housing industry since 1983. She has been president and CEO of a Midwest property management company and chief compliance officer over a Dallas firm’s national portfolio. She has a Master’s degree in Business and is a Certified Property Manager through the Institute of Real Estate Management. Gwen holds certifications as a National Affordable Housing Professional – Executive Level, Specialist in Housing Credit Management, Housing Credit Certified Professional, Certified Professional of Occupancy, and in Fair Housing Compliance and has been a servant leader in the AHMAs, NAHMA and IREM throughout her career. Gwen is a nationally recognized expert in the tax credit, bond, HOME, and Section 8 programs and enjoys helping agents, owners, and managers make sense of it all.

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