{"id":28748,"date":"2023-08-28T14:23:34","date_gmt":"2023-08-28T18:23:34","guid":{"rendered":"https:\/\/www.carh.org\/?p=28748"},"modified":"2023-08-28T14:26:12","modified_gmt":"2023-08-28T18:26:12","slug":"rd-mfh-treatment-of-financial-benefits-from-solar-program-participation","status":"publish","type":"post","link":"https:\/\/www.carh.org\/rd-mfh-treatment-of-financial-benefits-from-solar-program-participation\/","title":{"rendered":"RD: MFH Treatment of Financial Benefits from Solar Program Participation"},"content":{"rendered":"<p><em>On August 28, 2023, RD&#8217;s Office of Multifamily Housing sent out the following information:<\/em><\/p>\n<p>&nbsp;<\/p>\n<p style=\"margin-bottom: 12.0pt;\"><span style=\"font-family: 'Arial',sans-serif; color: #232323;\">Rural Housing Service is pleased to announce guidance on the <b><a href=\"https:\/\/www.rd.usda.gov\/media\/file\/download\/treatment-financial-benefits-solar-program-participation.pdf\"><span style=\"color: #1d5782;\">treatment of financial benefits from solar programs participation<\/span><\/a><\/b> realized by Rural Development (RD) multifamily housing owners or tenants.\u00a0 These benefits are a result of participation in a community solar program or the presence of an on-site solar facility.<\/span><\/p>\n<p style=\"margin-bottom: 12.0pt;\"><span style=\"font-family: 'Arial',sans-serif; color: #232323;\">Many community solar programs and on-site solar incentive programs stipulate that financial benefits must be distributed to tenants as a condition of program eligibility.\u00a0 The guidance, located on our Multifamily Housing Programs website in the <b><a href=\"https:\/\/www.rd.usda.gov\/resources\"><span style=\"color: #1d5782;\">Tools and Resources<\/span><\/a><\/b> section, addresses whether such financial benefits are to be factored into the property\u2019s annual utility allowance analysis and\/or tenant income calculations.\u00a0<\/span><\/p>\n<p style=\"margin-bottom: 12.0pt;\"><span style=\"font-family: 'Arial',sans-serif; color: #232323;\">The Inflation Reduction Act (IRA), expanded or created several programs to finance solar facilities, including some targeted to affordable multifamily housing.\u00a0 The <b><a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy1688\"><span style=\"color: #1d5782;\">U.S. Department of the Treasury and Internal Revenue Service<\/span><\/a><\/b> issued final rules and procedural guidance for the Low-Income Communities Bonus Credit program under Section 48(e) of the Internal Revenue Code and announced the application process will open by early fall.<\/span><\/p>\n<p style=\"margin-bottom: 12.0pt;\"><span style=\"font-family: 'Arial',sans-serif; color: #232323;\">If you have questions regarding this guidance, you may contact the project\u2019s assigned servicing specialist in the MFH Field Operations Division. The assigned specialist can be found on the Agency\u2019s website at\u00a0<b><a href=\"https:\/\/www.sc.egov.usda.gov\/data\/MFH.html\"><span style=\"color: #1d5782;\">https:\/\/www.sc.egov.usda.gov\/data\/MFH.html<\/span><\/a><\/b>\u00a0and selecting the link under the heading Multifamily Housing 514 &amp; 515 Property Assignments.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 28, 2023, RD&#8217;s Office of Multifamily Housing sent out the following information: &nbsp; Rural Housing Service is pleased to announce guidance on the treatment of financial benefits from solar programs participation realized by Rural Development (RD) multifamily housing owners or tenants.\u00a0 These benefits are a result of participation in a community solar program&hellip;<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[1],"tags":[],"class_list":["post-28748","post","type-post","status-publish","format-standard","hentry","category-uncategorized","category-1","description-off"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts\/28748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/users\/263"}],"replies":[{"embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/comments?post=28748"}],"version-history":[{"count":1,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts\/28748\/revisions"}],"predecessor-version":[{"id":28749,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts\/28748\/revisions\/28749"}],"wp:attachment":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/media?parent=28748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/categories?post=28748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/tags?post=28748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}