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Exam (elaborations)

HCCP Exam Questions with Verified Correct Answers

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HCCP Exam Questions with Verified Correct Answers

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HCCP Exam Questions with Verified Correct
Answers
Fair Housing - How many Protected Classes

7 Federal Protected Classes

What are the Federally Protected Classes

Race, Color, Religion, Sex, National Orgin, Disability and Familial Status

Private Letter Ruling

Ruling made directly with the owner but cannot be changed

Private Letter Ruling

Cannot be cited as precedent

HERA

Housing andEconomic Recovery Acts

What year does HERA start

2008

When did LIHTC Start

1986 - 10/22/1986

To Retain credits, a development must:

1. Rent to Qualified Households

2. Keep Rents Affordable

3. Keep property Decent, Safe and Sanitary

, I - R - S cheat meaning

I - Income

R - Rents

S - Safe and Sanitary

General Partner

Considered the Owner but can also be the Management Company

Limited Partner

Provides GP with money to build

Syndicator

Middle Man - communicates between GP and LP

What are other names for HFA - State Housing Finance Agency

1. State Agency

2. Allocating Agency

3. Finance Agency

What is a QAP

Qualified Allocation Plan

What is QAP also Known As

Game Plan

What is the Game Plan

QAP - Qualified Allocation Plan

What is QAP for?

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