Avoid Costly Mistakes with the New Average Set-Aside Option
The minimum set-aside election is a crucial concept in tax credit compliance that sets income and rent limits for a project. The Omnibus Tax Act of March 2018 provided a new minimum set-aside option that will change many important approaches to compliance that we take at tax credit properties. This webinar replay will consider what we know and do not know about the new Income Average Test and suggest an action plan for those planning to implement the new set-aside.
Participants in this webinar replay will:
- Describe the core concepts of the Income Average Test, including which properties may use the new set-aside and how set-aside averaging works
- Explain how the Available Unit Rule works with the new option
- List some of the key steps on an action plan to implement the new set-aside
Speaker: Scott Michael Dunn, The Costello Companies
NAHB Continuing Education: 1.0 hours of continuing education credit for the HCCP designation and for the following 12 designations: CAPS, CGA, CGB, CGP, CGR, CMP, CSP, GMB, GMR, Master CGP, Master CSP, MIRM.
Cancellation and Refund Policy: No refunds are issued for webinar replays upon purchase. However, NAHB regularly reviews these products and reserves the right to remove replays that are no longer current. If you are unable to view a replay during your 12-month access period, please contact Deborah Krat at EdWebinars@nahb.org.
Scott Michael Dunn
Chief Executive Officer, Costello Compliance and Director of Policy, The Costello Companies
Scott Michael Dunn is the CEO of Costello Compliance and the Director of Policy for the Costello Companies. The Costello Companies are developers, builders and managers of affordable housing with clients throughout the country. Mr. Dunn has almost three decades of experience in multi-family housing and holds various specialized certifications related to all major affordable housing programs. Prior to joining the Costello Companies, Scott Michael served as the Executive Vice President of Zeffert & Associates for over a decade where he was responsible for the company’s overall daily operations as well as developing and monitoring the training, compliance and state monitoring divisions.