The U.S. Department of Housing & Urban Development (HUD) recently updated its Section 8 Income Limits and released income limits for tax credit and tax-exempt bond projects.
One major change: HUD has eliminated its hold-harmless policy in the 2010 limits. Projects placed in service after May 14 will be affected.
VHFA Assistant Director of Multifamily Programs Kim Roy has written a memo on the changes for owners and managers of Low-Income Housing Tax Credit properties. The new limits are also attached to the memo.