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  • Comment Detail

  • Date: 06/23/23
    First Name: Adelia
    Last Name: Williams
    Email: adeliaateam@gmail.com
    Organization Type: federal government
    Organization: LIHTC Tenant

  • Comment

    Regarding the Low Income Housing Tax Credit properties, HUD releases annual TCAC Income and Rent Maximum Reports that artificially inflate County AMIs, putting current low- and fixed-income tenants at risk of being priced out of their homes. Unlike Section 8, rents are attached to units rather than tenant incomes. Whenever these reports deflate a current tenant's income to qualify them for a more affordable unit, they are forced to go to the back of the years long waitlist again and must pay annual rent increases on their current unit until then. HUD is artificially inflating AMIs even when actual inflation-adjusted AMIs are decreasing. THESE ISSUES MUST BE REGULATED to protect low and fixed-income current tenants ASAP. Between 2019 and 2023, rents were allowed to be increased by 31.8%, exceeding COLAs! State Treasurers cannot do anything until rents exceed 60% of income. LIHTC contracts are exempt from State rent control laws! California's rent control allows up to a 10% annual increase, but even that can DOUBLE rents within seven years! Between 2018 and 2021 California data shows that homelessness among people aged 65 and up grew by 98%!! LIHTC communities are expanding nationally, but vulnerable tenants MUST be protected from being priced out of their homes due to current regulations allowing these practices. Thank you for your consideration and help.