The Low-Income Housing Tax Credit program (LIHTC) is the largest creator of affordable housing in our state. As these tax credits are acquired, and rents are kept low throughout the affordability period, there also comes an expectation of TDHCA and developers to plan ahead for upkeep of older properties. However, we’ve seen that far too many loopholes exist to spend these funds restricted to upkeep, otherwise known as replacement reserves, but there are opportunities to fix these issues.
On this episode of the show, Michael is joined by Heather Way of the University of Texas School of Law’s Housing Policy Clinic to discuss their latest report. Best Practices to Prevent Substandard Conditions in Low-Income Housing Tax Credit Properties: An Examination of Replacement Reserves Policies in Texas’ LIHTC Program dives into the issues that aging properties face as their change ownership, rules and accountability loosen, and tenants need far more protection.
To learn more, you can read Professor Way’s report on our blog.
As always, you can listen to “Episode 67: Replacement Reserves restore aging properties. But where are they actually going?” below or wherever you get your podcasts.
Subscribe to A Little Louder on Apple Podcasts, Spotify, or your preferred podcast provider.
