lihtc compliance checklist

The following forms are for use in creating tenant files: 10/08Affidavit of Income Self Certification(PDF) endstream endobj 143 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (2.6) Evictions /Tx BMC 0.75293 g \` ,u 1 g Income verifications are in compliance with methods required by state, federal, city and/or county polices . (7.3) Delays in Making a Unit Suitable for Occupancy H (2.13) Mixed-Income Buildings with Different Sized Units (5.3) Overtime IRS Rev . (11.3) Common Area Units Homeownership: Homebuyer Programs|Information for Lenders| endstream endobj 104 0 obj <>/Subtype/Form/Type/XObject>>stream %PDF-1.7 % Current Ownership Entity Certification Resources: s Environmental Review, Davis Bacon, Relocation, Fair Housing and Section 3 requirements are also monitored as they relate to these programs. EMC 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq endstream endobj 137 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (5.6) Written Verification (5.1) Summary 0.75293 g The Low-Income Housing Tax Credit (LIHTC) program is the most important resource for creating affordable housing in the United States today. The 0 0 18 18 re endstream endobj 111 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Question 1. Developers & Contractors Environmental Review. 0.75293 g (5.8) Non-Wage Income Management Agent Forms (5.10) Foster Child income 0 0 18 18 re Chapter 5, Exhibit 2: Assets (PDF), Utility Allowance Procedures for LIHTC Properties (PDF) \` ,u Other (5.6) Picture Identification Accordingly, the credits allocated to this would increase as follows: 2015: 39.15M population x $2.30 multiplier = $90.05M credits. They are solely responsible for documents and information provided to NIFA and to prospective purchasers. (2.10) Mixed-Income Properties LIHTC Projects for Sale Under Qualified Contract For 9% Tax Credit Allocation Developments: Margaret Feml, Asset Management Unit Phone (518) 486-6273; Fax (518) 486-3366 NYS Homes & Community Renewal The Hampton Plaza 38-40 State Street, Albany, NY 12207 9% Developments for Sale through Qualified Contract: None at this time @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > endstream endobj 153 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 10/17Compliance Officer Customer Service Survey (Word). This document describes (1) the federal and state resources available for financing rental housing through the plan, (2) the legislative requirements for distributing these resources, (3) the State's preference for the location and type of such housing, (4) the process used for evaluating applications and awarding these resources, and (5) program Notice of Non-Assignment - Habitat Applicant. 0 0 18 18 re Low Income Housing Tax Credits (LIHTC) Architects and Contractors Go to Architects and Contractors Standards of Design for Preconstruction manual and forms Missing Middle Housing Program Go to Missing Middle Housing Program (2.15) Utility Allowance Documentation This annual LIHTC Compliance Training is a comprehensive course specifically designed to assist affordable housing professionals with becoming skilled in project compliance. (11.4) Record Retention 0.75293 g 128 127. HUD may conduct a review of the recipient agency to determine compliance. Compliance Online Reference Manual Assisting in the Development and Maintenance of Quality Rental Housing Communities Affordable to . 1 g Related Forms: f If you are looking for a particular form, you should check for the most recent version on theInternal Revenue Service (IRS)website, as forms are periodically updated. f 01/23NSP Rent and Occupancy Report (for NSP Projects Only)(Excel), 01/23HTF Rent and Occupancy Report(PDF) (11.4 Special-Needs Set-Asides 0 0 18 18 re Rev 02/2009, Sample Utility Allowance Schedule (PDF)Rev 02/2009, Public Housing Authorities Link Rev 02/2009, Forms ~ State; Funds Data-driven decision-making: CFOs must be able to analyze financial data and trends . Review theDevelopment Owners packet of due diligence materials and agree on an appropriate Qualified Contract Price (QCP). s The IRS requires that Tax Credit monitoring agencies use the UPCS Inspection Protocol to monitor the physical standards of LIHTC and HOME properties. Appendix N (7.5) Residents Found to be Over-income at Time of Move-in EMC NOFA and grant programs for nonprofit agencies and local units of government. 0 0 18 18 re \` ,u Owners of affordable housing with this type of funding must comply with applicable federal Regulations, and HPD is legally required to monitor compliance to ensure continued affordability and habitability. (9.8) Specific Documentation Required for Sale of Property (Assumption by Original f Rev 02/2009 LIHTC and Multifamily Loan Program File Requirements Checklist LIHTC Owner Certification of Continuing Program Compliance LIHTC Post Year 15 Owner Certification of Continuing Program Compliance Notice of Rent Adjustment Notification of Change in Contact Information Owner Certification of Methamphetamine Decontamination (5.5) Outside Agency Verifying Income s Rev 12/29/2022, Regulations & Other Authority (PDF)| 0.5 0.5 17 17 re 42 of the Internal Revenue Code of 1986, the Tax Credit Regulatory Agreement ("TCRA"), the Compliance Monitoring Agreement, the Qualified Allocation Plan ("QAP") and other legal governing documents. SEARCH|CONTACT, Asset Management and Compliance LIHTC Program Policies (See Current Year \` ,u s 0.5 0.5 17 17 re 0 0 18 18 re (2.15) Utility Allowances 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq Tenant Based Rental Assistance Guide. 01/23HOME Rent and Occupancy Report (for HOME Projects Only(Excel), 01/23NSP Rent and Occupancy Report (for NSP Projects Only)(PDF) LIHTC Management Capacity Certification Form IRS Form 8609- Low Income Housing Credit Allocation Certification HUD & Tax Credit (LIHTC) Compliance is Critical For HUD and Tax Credit properties, noncompliance puts you in danger of losing current and future funding. 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq Qualified Contract Notification Letter (PDF) endstream endobj startxref MSHDA model lease forms are located on the AM Policies and Formspage. f Learn about what HUD grantees are doing across the nation. (2.11) Available Unit Rule Forms of Verification (PDF) 12/14TIC Instructions, 12/15MSHDA Checklist(PDF) (Mandatory Form) 0.5 0.5 17 17 re (1.8) Tax Credit Properties with Tax-Exempt Bonds, Federal Requirements The Low-Income Housing Tax Credit (LIHTC) program is a tax incentive program designed to increase the supply of quality, affordable rental housing by helping developers offset the costs of rental housing developments for individuals with low- to moderate-income. s Properties may generate a LIHTC for investors. | Information for Instructors | Multifamily Housing: 0.5 0.5 17 17 re 36,000. Rev 02/2009 0.5 0.5 17 17 re Inspections The manual is effective January 24, 2023, and DCA will accept public comments year-round. you As the monitoring entity for the IRS on the LIHTC Program and HUD on the HOME, CDBG and ESG Programs, DHCD reports directly to them on issues of non-compliance. A current and complete rent roll for the entire Development. 1 g Created by the Tax Reform Act of 1986, the LIHTC program gives State and local LIHTC-allocating agencies the equivalent of approximately $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, or new construction of . f Utility It was created under the Tax Reform Act of 1986 and gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans. 1 | %%EOF /Tx BMC 0 0 18 18 re Grantees and Public Housing Agencies (PHAs) should work with their legal counsels to ensure it meets all local and state laws. f cA ib@3dC[a!!yY g`Y"R*^4an'9hAd iJ>+3h{xzyjbz-Z7.TizJl}r:rBIb050 Calculation of Qualified Contract Price Worksheet (Sample) (Word), Post-Year 15 Monitoring Procedures (PDF) Rev 03/2017 Low Income Housing Tax Credit Check List for Annual Compliance Packages This check list must be used when submitting compliance packages to the Agency for approval. Form SS-4 Application for Employer Identification Number (PDF) Information about the Pass-Through Bond Program, Information on Direct Lending Parameters, Gap Financing Programs, Equity Bridge Loan Program, Notice of Intent to Apply, LIHTC Application and Exhibit Requirements for Direct Lending Programs, Other Information (Mortgagor and Contractor's Cost Certification Guide and forms, HOME Subsidy Limits, Direct Lending Intake Forms, Contractor Requirements, and the Modified Pass-Through Program), Parameters, Standards of Design for Preconstruction manual and forms. s NCHM is the best source for LIHTC Certification through Tax Credit Specialist (TCS), the premier accreditation program in the industry, delivered online by leading experts. Utility Allowance Procedures for LIHTC Properties - Summary of The LIHTC was created in 1986 to encourage a private/public investment to preserve and construct new affordable rental housing. s Allowance Spreadsheet - Method 6 (Excel), Webinar We use cookies on this site to provide a better experience with content and analytics. endstream endobj 115 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (9.5) Contact Information Low-Income Housing Tax Credit Program Compliance Program compliance forms and information on this page is updated frequently. Subscribe to Annual Reports, Interim Information| Privacy Notice endstream endobj 129 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 1998-2018 All Rights Reserved, 1000 2nd Avenue, Suite 2700, Download. 0.5 0.5 17 17 re endstream endobj 109 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream s Commission-issued low-income housing tax credits were used to finance a DCA has published the new LIHTC & HOME Compliance Manual. Exhibit A-13: Schedule II LIHTC 12 units or more with Section 8. Resources When e-mailing, please provide a descriptive subject line to assist with directing inquiries to the proper staff members. Move-In Master File Checklist- LIHTC PPMG 17a PPMG. (1.6) Tax Credit Only Properties (7.2) Commencement of Correction Period (4.4) Changes in Rent Limits The building must remain in compliance and is subject . 01/05/2023MSHDA 2022 Annual Certification Year End Reporting Memorandum, 12/19New MSHDA Inspection Requirements Memorandum