LIHTC basics
This federal program was created in 1986 to incentivize private investment in affordable housing.
What is the Low-Income Housing Tax Credit?
What is the official name for our team?
When was the team created and by who?
Property operations file specialist
November 2024 by Chris Lahna
A single applicant earns $17/hour, 40 hours per week. She works year-round. What is her anticipated gross annual income?
Is she eligible for a 1-person 60% AMI unit in Dallas, TX if the limit is $41,400?
$17 × 40 = $680/week × 52 = $35,360 annual income
Someone is a full-time student (the only student in the household) what forms are needed?
Affidavit of student financial assistance
What is the strongest bone in the human body?
The femur
LIHTC stands for this.
What is Low-Income Housing Tax Credit?
What is the main goal of the team?
Cut down application timing and increase occupancy.
A household includes two adults, both full-time students, and their 3-year-old child. Are they eligible for a LIHTC unit under the student rule? Explain why or why not.
If someone is a 1099 employee with no expenses what documents are needed to verify income?
Verification of employment and clarification that no expenses are filed on
Who won the first season of American Idol?
Kelly clarkson
This government agency oversees the LIHTC program on the federal level.
What is the IRS?
What are Dominium's core values?
Occupied, Clean, Green, Collected
An applicant is self-employed as a hairstylist. She made $28,000 last year after expenses, as reported on her 2023 tax return. She also earned $2,000 in unreported cash tips monthly in 2023.
What is her total annual income for LIHTC eligibility purposes?
Total Income = $28,000 + $24,000 = $52,000
What documents are needed for someone who owns 100% of a home.
Applicant- current mortgage statement
File specialist- broker fee % , current market value
When is my due date?
September 18 2025
Investors receive these in exchange for funding affordable housing projects.
What are tax credits?
How many properties are in our full portfolio
50 properties
A full-time student is 19 and lives alone. She has no job but receives a $12,000 annual scholarship for housing.
Is she eligible for a LIHTC unit?
No – Full-time student living alone, no exception applies.
List at least 3 student rule exceptions that could allow a full-time student household to qualify.
What is the most popular show on Netflix?
Squid games- had 265.2 million views in the first 91 days
LIHTC properties restrict tenants’ incomes to a percentage of this local measure.
What is Area Median Income (AMI)?
What Holidays do we get paid off?
New years, Martin Luther king, memorial day, independence day, labor day, thanksgiving day & day after, Christmas day
A household receives the following income:
What is their total annual household income?Could they qualify for a 3-person unit with a $51,000 income limit in Texas?
A household consists entirely of full-time students who do not receive financial aid, along with one part-time student who does receive financial aid. What documents are needed to verify the status of the full-time students, and what forms are required for the part-time student?
Full time - Affidavit of student financial assistance
Part time- Affidavit of student financial assistance and student status and release of financial assistance
Office facilities coordinator