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ARTICLE · 23 OCTOBER 2024

New Income Eligibility Guidelines Help Keep Subsidized Properties Available To Veterans

Frost Brown Todd
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Owners of federally subsidized multifamily properties ("Subsidized Properties") should be aware of favorable new guidelines going into effect on October 24, 2024...

United StatesReal Estate and Construction
S. Bradford Butler
S. Bradford Butler
James A. Golden, Jr.
James A. Golden, Jr.
Stephen M. Sparks
Stephen M. Sparks

Owners of federally subsidized multifamily properties ("Subsidized Properties") should be aware of favorable new guidelines going into effect on October 24, 2024, that could expand affordable housing access for potential tenants receiving benefits from the Department of Veterans Affairs (VA). Owners, operators, and managers of Subsidized Properties should familiarize themselves with the updated income guidelines to ensure they comply with new program requirements created by public housing agencies (PHAs) and are able to better serve a new group of potential tenants.

The Department of Housing and Urban Development (HUD) recently published guidelines promulgating alternative income eligibility requirements for recipients of aid from the VA through its Veterans Affairs Supportive Housing (VASH) program. These guidelines create a new formula for calculating a tenant's income when determining compliance with the applicable income restrictions imposed on properties

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