Our Housing Authority not only operates Housing Choice Voucher and Public
Housing programs but we also manage a low-income housing tax credit property.
Because utility costs are going up a great deal the utility allowances must
increase as well. When HUD sets the fair market rents the increased utility costs
are part of the calculations so higher FMRs can have an off setting effect against
higher utility allowances for the voucher program. However, the higher utility
allowances for the LIHTC program can cause a real cash flow problem since those
rents are based on income limits not FMR. I don't know what can be done about
this problem. In setting utility allowances for a LIHTC property it could be useful to
allow a property owner to set a date and read all the meters for tenant supplied
utilities on that date then again on the same date one year later. Pictures could be
taken of the meters to document the readings. Consumption averages could be
calculated for each different sized units that had a full year of occupancy. The
State housing agency monitoring the LIHTC program could gather and publish
utility rates for each county or region that would be applied to the consumption
data to produce the new utility allowances each year.
Comment on FR Doc # E7-11731
This is comment on Proposed Rule
Section 42 Utility Allowance Regulations Update
View Comment
Related Comments
View AllPublic Submission Posted: 11/21/2007 ID: IRS-2007-0092-0003
Sep 17,2007 11:59 PM ET
Public Submission Posted: 11/21/2007 ID: IRS-2007-0092-0004
Sep 17,2007 11:59 PM ET
Public Submission Posted: 11/21/2007 ID: IRS-2007-0092-0005
Sep 17,2007 11:59 PM ET
Public Submission Posted: 11/21/2007 ID: IRS-2007-0092-0006
Sep 17,2007 11:59 PM ET
Public Submission Posted: 11/21/2007 ID: IRS-2007-0092-0007
Sep 17,2007 11:59 PM ET