Dominium Publishes Series of Articles on Income Averaging Policy

NH&RA member firm Dominium recently published three articles on income averaging. The first article dispels the myth that there is an income averaging ‘cliff’ when one unit on the property goes out of compliance. Rather, 40 percent of units must serve households that on average make 60 percent of the area median income. The second article details the benefits of income averaging for both owners and tenants. Finally, the third article provides a case study of how the Community Housing Development Corporation in Minnesota implemented income averaging to preserve an existing Project Based Section 8 development with an expiring HAP contract with no additional soft funding and no resident displacement.