Iowa Finance Authority

Internal Revenue Bulletin: 2007-31

Under Internal Revenue Bulletin: 2007-31, Rev Proc. 2007-54, Individuals displaced from these counties as a result of this disaster are eligible to be housed in LIHTC properties under certain circumstances.

1) The development Owner must request permission to provide temporary emergency housing to displaced low-income individuals for a period not to exceed 4 months beyond the date of the President’s declaration.

2) The impacted individual must provide a Self-Certification of Income Status.

3) The impacted individual must provide a Self-Certification of Status as Displaced Individual.

4) In addition, owners must maintain certain recordkeeping requirements, continue to restrict rent levels, provide protection for existing residents, Owners may suspend the non-transient requirements of Section 42 only for those persons displaced by the disaster and for a period not to exceed four months beyond the date of the President’s declaration.

Below you will find all of the necessary forms required for you to participate in the emergency housing relief efforts of persons displaced by this disaster.

Please feel free contact Roger Brown directly at 515.725.4879 or by email at roger.brown@iowa.gov with any questions relating to emergency housing relief.

Forms
IRS Notice 2008-58
REV PROC 2007-54
FEMA Designated Counties for Individual Assistance
Implementation Instructions
Owner Application
Affidavit of Displacement
Tenant Certification
Lease Addendum
Tracking Form

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