Recently, Douglas Rice, special policy adviser at HUD, unveiled the latest updates to the Housing Opportunity Through Modernization Act of 2016 (HOTMA). Among the key changes, the new rule introduces an across-the-board increase in the standard deduction for all individuals. Moreover, it raises the threshold for public housing and Section 8 residents to claim additional medical expenses deductions.
This implementation, known as the Final Rule for Sections 102, 103, and 104 of HOTMA, brings several notable advantages to tenants while significantly easing administrative burdens for public housing agencies (PHAs), multifamily housing owners (MFH owners), and participating jurisdictions.
One of the primary benefits of this new rule is the reduction of paperwork and complexity surrounding medical deductions for eligible households. This streamlined approach ensures a more straightforward and accessible process for those seeking medical expense deductions.
Join this webinar on the latest updates on HOTMA regulations with industry expert Paul Flogstad to understand the positive impact of these regulatory changes on both tenants and housing authorities, fostering a more efficient and equitable system within the housing sector.
In this session, Paul will focus on a comprehensive examination of the proposed changes, particularly those related to seniors and individuals with disabilities. Specifically, Paul will delve into the adjustments that affect their ability to deduct a specified level of medical expenses from their income.
Paul has been involved in the real estate industry for the past 38 years. He has been involved in sales, construction, project management, appraisal, mortgage consulting and brokerage, property management and property management consulting/training.
Through his consulting company, Property Management Solutions, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies.
He specializes in fair housing issues and has developed fair housing and outreach programs for governmental agencies as well as conducting seminars which are presented to property management companies, apartment associations and the general public. He also conducts research analysis for impediments to fair housing for grantees of federal CDBG funds.
Most recently, he has been a consultant to the City of Sioux Falls and the State of South Dakota. In this assignment he has developed a fair housing awareness program that is one of the first of its kind in the nation. It involves a three pronged approach to fair housing awareness. This approach makes use of an ombudsman concept and has proven to be very effective in dealing with discrimination and landlord/tenant issues.
For over twenty years was involved in appraisal of residential, multi-family, farm and commercial properties throughout the Midwest. Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development, HOME and Tax Credit programs.
Paul was previously Vice President of the South Dakota Multi-Housing Association, Vice Chairman of the Minnehaha County Housing and Redevelopment Commission, and Chairman of the Sioux Falls Property Appeals Board. In 2009, he received the Outstanding Educator of the Year award from the South Dakota Multi-Housing
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