| Information for Instructors | Multifamily Housing: Virtual and in-person training opportunities will be available to learn about the new manual. Compliance Forms Home Compliance Forms Compliance Forms Property managers or owners of OHFA-funded communities need to complete various forms in order to certify your residents are qualifying for housing. The qualified purchaser may be a non-profit or for-profit entity that agrees to maintain the affordable housing units and fulfill all requirements of the LURA for the remainder of the extended use period. Related Forms: There are subtle differences between doing a REAC Inspection and a UPCS Compliance inspection. Income Inclusions and Exclusions (PDF) Novogradac does not provide investment advice and any information on Novogradacs website is not to be construed as a recommendation to engage in a transaction with a particular party. Child Support Affidavit 131. s Forward information with respect to the Developmentto current owners of tax creditdevelopments and tolocal, state and nation-wide non-profit and for profit owners who have notified NIFA that they have an interest in preserving housing; and to tax credit investors and others who have asked for such information. 01/19Notice Of Change In Management Agent(PDF) endstream endobj 165 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (7.4) Overcharging Rent Allowance Spreadsheet - Method 6 (Excel), Stream Presentation on Vimeo (32 11/15Common Area Unit Designation(Word), 01/19First Year Credit Statement(PDF) Learn about what HUD grantees are doing across the nation. (1.5) Restricted Rents (5.8) On-Site Staff and Management Personnel Some of the information may have been provided by third parties and is based solely on information provided to Novogradac by that third party. 0.5 0.5 17 17 re Some tax credit projects receive tax credits from both Minnes ota Housing and a suballocator. Knowledge of Section 8, LIHTC, and HUD ; Must know HUD/Public Housing/Tax Credit policies and procedures ; Detail-oriented and the ability to operate on a deadline-driven schedule ; Possess strong organizational, analytical, and problem-solving skills ; COS certification ; Physical Demands . In addition to the above, theDevelopment Owner must agree to the following requirements: DevelopmentOwner Certifications and Commitment. endstream endobj 151 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream In order toreceive pointsontheLIHTCapplicationyou must attend the Compliance Training. 0.5 0.5 17 17 re Utility In addition, developments must adhere to a minimum Extended Use Period of an additional 15 years. H 09/04Annual Project Summary(PDF) \` ,u endstream endobj 134 0 obj <>/Subtype/Form/Type/XObject>>stream Nonprofit Sponsor) Exhibit A-13: Schedule II LIHTC 12 units or more with Section 8. (9.5) Required Document for All Transfers Tax Credit Project (PDF), Differences Between Tax Credits and Bonds (PDF), Income & Asset Verification Summary Chart (PDF), HUD Occupancy Upon receipt of aDevelopment Owner's request to exercise its option year (Notification Letter and Qualified Contract Price Form and Worksheets), NIFA staff will proceed as follows: In order for NIFA to assist in making information available to potential purchasers of affordable housing properties, the Development Owner must cooperate in such effort and is responsible for providing certain information. endstream endobj 155 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (5.16) Stocks, Bonds, Treasury Bills, Certificates of Deposits, Money Market E-News monthly newsletter. 1000 2nd Avenue, Suite 2700, Year End Report Forms, 10/17Auditor-Inspector Customer Service Survey(PDF) The Department of Housing and Community Development (DHCD) determines which: Low-income housing projects will qualify for the credit. (3.9) Restricting Up-Front Charges, Rents & Tenancy LIHTC Lease Addendum (PDF) endstream endobj 126 0 obj <>/Subtype/Form/Type/XObject>>stream Powerpoint (PDF) Census Population Estimates 2015-2019. If a Development Owner desires to sell the property under the qualified contract process such Development Owner must notify NIFA using the process outlined below. (5.13) Annuities 11/2017 Homeless & Special Housing Needs Programs, Housing Opportunities Promoting Energy Efficiency Program (MI-HOPE), https://dev.michigan.local/som/json?sc_device=json, Performance Based Contract Administration, Go to COVID Emergency Rental Assistance (CERA), Go to Homeless & Special Housing Needs Programs, Go to Michigan's Campaign to End Homelessness, Go to Multi Family Direct Lending Programs, Go to Low Income Housing Tax Credits (LIHTC), Go to Housing Opportunities Promoting Energy Efficiency Program (MI-HOPE), MSHDA 2022 Annual Certification Year End Reporting Memorandum, New MSHDA Inspection Requirements Memorandum, Carbon Monoxide Detectors & IRS Final Regulations for LIHTC Memorandum, Auditor-Inspector Customer Service Survey, Compliance Officer Customer Service Survey, Notice of Building Casualty Loss or Damage, Owner's Certificate and Attachment A Instructions, Owners Certification of Completion of Repairs, Annual Student Eligibility Certification LIHTC & Tax Exempt Bond, Annual HOME Certification of Student Status, Authorization to Release Information for Section 8 Participants, LIHTC/1602/TCAP Owner's Certification of Continued Program Compliance, HOME/NSP Owner's Certification of Continued Program Compliance, HOME Rent and Occupancy Report (for HOME Projects Only), HOME Rent and Occupancy Report (for HOME Projects Only, NSP Rent and Occupancy Report (for NSP Projects Only), Combined Application for Rental Housing Programs, The deadline for submission of the 2022 Owner's Certification for all LIHTC, 1602, TCAP, HOME, NSP and HTF developments is. s 0.5 0.5 17 17 re All units must have a valid lease. f (9.2) Maintaining Credit Set-Asides (11.3) Re-Certifications endstream endobj 153 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > Income/asset verifications and other forms. E-09 Administrative Record. (PDF) Rev 11/2014 Notice H2019-03 LIHTC Pilot Q&A's (5/3/2019) Map Guide Clarification, Security for Equity Bridge Loans (3/8/2018) 2016 MAP Guide FAQs on Affordable Transactions (6/19/2017) Lender Certification for Tax Exempt Bonds and 4% Tax Credit Transactions. 10/08 HERA of 2008 Update Memorandum The following forms are for use by Management Agents to provide Development Information for and to notify the Compliance Monitoring Unit of Management Agent Updates. Forms and Reports Hope Manor (Chicago) The Low Income Housing Tax Credit (LIHTC, Housing Credit) is a dollar-for-dollar federal tax credit for affordable housing investments. (12.3) Household Transfers (6.3) Data Collection Requirement minutes) H f Date. Use to document information obtained verbally or to explain any unusual circumstance in the file. 0.75293 g HPD funds certain affordable housing with HOME dollars and/or Low-Income Housing Tax Credits (LIHTC). s (7.3) Delays in Making a Unit Suitable for Occupancy 90% percent or more of the units must be restricted for LIHTC occupancy and the market analysis, appraisal and underwriting must conclude that the achievable LIHTC unit rents will be at least HUD & Tax Credit (LIHTC) Compliance is Critical For HUD and Tax Credit properties, noncompliance puts you in danger of losing current and future funding. The compliance period is 15 years beginning with the first year of the tax credit period (placed in service year or subsequent year if deferral was elected). endstream endobj 115 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream H H They are solely responsible for documents and information provided to NIFA and to prospective purchasers. (PDF) Rev 04/19/2022 s 18 KB. (Link to IRS: see Search Forms and Publications), Life Cycle of a Developers & Contractors Environmental Review. (8.1) Summary Information for Real Estate Professionals Post the Development information on NIFAs website. endstream endobj 129 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Tax credit compliance monitoring for those projects will be done by the entity that first allocated credits to the project unless the allocators make other arrangements regarding the project. endstream endobj 113 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream PowerPoint Slides (PDF) Tax Credit Specialist is the premier course for earning your LIHTC certification. 02/11Ownership Entity Information Form(Excel), Optional - for property use only: Allowance Spreadsheet - Method 6 (Excel), Webinar H TheDevelopment Owner must certify to the following: If NIFA finds a prospective purchaser willing to present an offer to purchase theDevelopment for an amount equal to the Qualified Contract Price, theDevelopment Owner must agree to enter into a commercially reasonable form of earnest money agreement or other contract of sale for the Development and provide a reasonable time for necessary due diligence and closing of the purchase. pdf. endstream endobj 162 0 obj <>/Subtype/Form/Type/XObject>>stream 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. @ $a$ $a$ " * ; = > ? It contains examples of records that can be maintained to support Section 3 compliance during a HUD compliance review. For more information about how we use cookies, see our Privacy Policy. (2.20) Tax Credit/Bond Financed Properties, Washington | 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. Alone and in combination with tax exempt private activity bonds, the LIHTC has been the most . f 0.5 0.5 17 17 re The manual is effective January 24, 2023, and DCA will accept public comments year-round. J | managers step-by step instructions on how to fulfill compliance requirements if 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. Chapter 5: forms located under the Qualified Contract Process dropdown, Calculation of Qualified Contract Price Form and Worksheets, Projects Eligible for a Qualified Contract Request. Bond f They should be able to provide insights on financial matters and help drive the organization's growth strategy. f endstream endobj 114 0 obj <>/Subtype/Form/Type/XObject>>stream 0.75293 g HUD Forms - Can be found on theHUDCLIPSwebsite. The EBITDA growth is what's keeping enterprise valuations from shrinking, although it was not nearly as high as the increases recorded in the last quarter of 2020 and the first three quarters of 2021. 94 0 obj <> endobj Rental Housing Tax Credits (RHTC) Rental Housing Tax Credits (RHTC) The Qualified Allocation Plan (QAP), details selection criteria and application requirements for the Rental Housing Tax Credit (RHTC) and multifamily tax-exempt bond programs. endstream endobj 164 0 obj <>/Subtype/Form/Type/XObject>>stream (9.4) Timeframe and Completeness Your compliance analyst will review all materials provided and issue an approval once we have established that the household is qualified for the LIHTC program. Child Support Income (Part 380) HUD 50058 & HUD 50059 forms (Chapter 11) HUD 9887 and HUD 9887A forms (Part 634) Lease Agreement (Part 630). (3.8) Marketing and Good Faith Efforts (the "30-Day Rule") 0.5 0.5 17 17 re endstream endobj 171 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 1 | f endstream endobj 149 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Grantees are encouraged to . HUD may conduct a review of the recipient agency to determine compliance. /Tx BMC Utility Allowance Procedures for LIHTC Properties - Summary of View important LIHTC Compliance forms and documents, LIHTC Compliance Monitoring and Site Inspection Guidance During the COVID19 Pandemic. LIHTC Compliance Manual 2019. G Event Calendar \` ,u (6.3) Supporting Documentation Forms EMC Current Rules Compliance Monitoring Rule - Texas Administrative Code Title 10 Chapter 10 Subchapter F (Secretary of State website) (effective 11/03/2022) (4.4) Restricting Up-Front Charges 01/23HTF Rent and Occupancy Report(Excel), 01/18Utility Allowance Documentation(PDF) Presentation (24MB), Explanation of WSHFC's Special-Needs Housing Commitments06/2010, Income 0.5 0.5 17 17 re (2.6) Evictions endstream endobj 99 0 obj <>/Subtype/Form/Type/XObject>>stream (2.19) Inspections IRS Form 8609-A- Annual Certification for Low Income Housing Credit f (5.12) Pensions, Veteran's & other Periodic Benefits 2023 LIHTC Compliance Virtual Workshop #1; 2023 LIHTC Compliance Virtual Workshop #2; . 10/15Annual HOME Certification of Student Status(Word) (Mandatory Form), 09/04Authorization to Release Information for Section 8 Participants, 12/15Certification of Zero Income(PDF) (Mandatory MSHDA Best Practice Form) 12//20 20. It availed the ITC. Be the first to know! 0.5 0.5 17 17 re Review of project owner tenant files for documents required to support information provided in Annual Owner Certifications. (2.14) Effect of Resident Moving to Another Unit (100% Affordable Properties( (5.14) Student Income DCA has published the new LIHTC & HOME Compliance Manual. f Proposed Ownership Entity Certification The program is Form SS-4 Application for Employer Identification Number (PDF) s Cooperate with NIFA to present a qualified contract for purchase of the Development. 12/14Tenant Income Certification (TIC)(Word) (Mandatory Form) (9.2) Transfers to Owners with No Previous Tax Credit Experience Homeownership: Homebuyer Programs|Information for Lenders| Extension Request Form (For All Inspections) Tax Credit Annual Report Common Errors/Best Practices Rev. To qualify, the taxpayers must invest in a qualified low-income housing project located in Massachusetts. LIHTC - HPD Tax Credits and Incentives Low Income Housing Tax Credits HPD allocates a portion of the State of New York's federal Low Income Housing Tax Credit allotment - both 9% competitive credits and 4% "as-of-right" credits. Income Inclusions and Exclusions (PDF), Utility Allowance Procedures for LIHTC Properties (PDF), A. WSHFC s A list of links and resources curated for LIHTC property owners and managers, Litigation Support and Expert Witness Testimony, Novogradac Property Compliance Certification, Novogradac Community Development Certificate, Renewable Energy Tax Credit Resource Center, HUD Handbook 4350.3: Occupancy Requirements of Subsidized Multifamily Housing Programs, Civil Rights and Nondiscrimination Requirements, Income and Assets - Included and Excluded, Rectifying Improper or Inaccurate Information, Discriminatory Conduct Under the Fair Housing Act, Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition, Election for Number of Bedrooms for Gross Rent Limitation, Safe Harbor to Comply with Eviction and Rent Increase Restrictions in LIHTC Extended Use Commitments, Income Determination Follows Section 8 of U.S. Housing Act of 1937, Safe Harbor for over income tenants during first year of the credit period, Utilities Paid by Tenant of Submetered Rent-Restricted Units, Assignment of Building Identification Number, Extended Use Agreement for Allocations Prior to 1990, Long Term Commitment to Low Income Housing, Manager Unit and Application Fees in Rent, Acq/Rehab of a Residential Rental Property, Earthquake Relief for Compliance Monitoring, Issues Arising when Qualified Low-Income Buildings are Damaged By Casualty, Links to States' LIHTC Compliance Guidance, Sign Up For Novogradac Industry Alert Emails, Tackling Homelessness as a Housing Supply Problem. Determining Income and Calculating Rent (PDF), Chapter 5, Appendix 3:Acceptable /Tx BMC (1.6) Compliance Process Overview The course is customized to highlight Nebraska state specific policies and procedures in addition to federal requirements. The Low-Income Housing Tax Credit (LIHTC) program is the most important resource for creating affordable housing in the United States today. (3.7) Double Counting (5.9) Alimony and Child Support COMPENSATION: Pursuant to Colorado regulations, if this job is performed in Colorado, the salary range is $100,000-$120,000 plus bonus potential. (2.20 Correction Period for Non-Compliance @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > (10.4) Marketing by the Commission Contact Us The building must remain in compliance and is subject . H to Tax Credit projects underwritten for that program unless adjusted for the New Pilot in separate guidance. Join our mailing list to receive the latest industry news and training updates. 2023 All Rights Reserved, NYC is a trademark and service mark of the City of New York, 2023 HOME and LIHTC - Income and Rent Limits for NYC, 2023 LIHTC Income -Averaging Project - Income and Rent Limits for NYC, HPD Annual Owner Certification Form Part A, HPD Annual Owner Certification Form Part B, HPD eRent Roll Template - Including Instructions, Tenant Income Certification Form Instructions, Investment or Pension or Annuity Verification, Student Status and Financial Aid Verification, HUD Handbook: Income Inclusions and Exclusions, Compliance in HOME Rental Projects: A Guide for Property Owners, HOME and Low Income Housing Tax Credit Guidebook, Advisory for HOME and LIHTC Property Owners Regarding the Violence Against Women Act, Highlights of Changes in the 2013 HOME Final Rule (changes in compliance monitoring for HOME projects funded after August 23, 2013), IRS Guide for Completing Form 8823, LIHTC Noncompliance or Building Disposition, IRS Guidance:Electronic Signature Program. endstream endobj 156 0 obj <>/Subtype/Form/Type/XObject>>stream NOFA and grant programs for nonprofit agencies and local units of government. 03/20 Request To Eliminate Re-certifications(PDF) @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > Attachments 0 0 18 18 re K | This may include providing copies of additional rent rolls,development tax returns, income certifications, repair and maintenance records, operating expenses and debt service information, and other due diligence documents. Novogradac will not be liable for any loss or damage that may arise out of your use of any of the information available on the website. 0 0 18 18 re Development Information Forms E-08 Notice of Intent to Clear Land. NIFA may, at any time, change these procedures, or act or refuse to act on a procedure, without notice or obligation to any Development Owner. contains the official notification of any non-compliance and lists each type of non-compliance. Revised October, 2018: Each time a revision is made to the Tax Credit Compliance manual, it will be . /Tx BMC s $ 8p a$ $ 8p a$gd$ $ 8p a$gde $ R8p p^p`a$ $ 8p a$ J K ^ _ ` a ` a b c 2 3 4 G H I J O V " h$ 5CJ hcG j hcG Uh.p 5>*OJ QJ hik CJ OJ QJ h.p CJ OJ QJ h.p >*CJ OJ QJ h.p h.p OJ QJ h$ CJ OJ QJ h$ >*CJ OJ QJ J K ^ ` 3 4 G $a$ 8p gd$ $ 8p a$gd$ $ 8p p^p`a$ $ 8p a$ $ 8p a$ = > ? Revised August, 2019: Disaster Area Temporary Relief / added link to LIHTC compliance web page that contains the following: 1. NIFA performs desk audits, inspects housing, and reviews tenant files. /Tx BMC D 09/04Annual Project Summary(Word). Tax Credit developments allocated federal low income housing tax credits in 1990 and thereafter may be eligible to make a qualified contract request to NIFA in 2005 and beyond. s endstream endobj 107 0 obj <>/Subtype/Form/Type/XObject>>stream Environmental Review, Davis Bacon, Relocation, Fair Housing and Section 3 requirements are also monitored as they relate to these programs. See Developments Currently Eligible for a Qualified Contract Request. endstream endobj 145 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Exhibit A-22: Authorization for Release of Property Information. Novogradac is not responsible for any information provided by third parties, and Novogradac disclaims any responsibility for ensuring the information is accurate or up to date. N | Non-compliance can result from moving in non-eligible households, miscalculating rent, or a wide range of other issues. HUD Handbook 4350.3: Occupancy Requirements of Subsidized Multifamily Housing Programs (November 2013), Civil Rights and Nondiscrimination Requirements (HUD 4350.3, Chapter 2), Eligibility for Assistance and Occupancy (HUD 4350.3, Chapter 3), Income and Asset Determination (HUD 4350.3, Chapter 5), Income and Assets - Included and Excluded (HUD 4350.3, Chapter 5), Exhibit 5-1: Income Inclusions and Exclusions, Acceptable Forms of Verification (HUD 4350.3, Appendix 3), Security Deposits (HUD 4350.3, Chapter 6), Termination of Tenancy (HUD 4350.3, Chapter 8), Rectifying Improper or Inaccurate Information (HUD 4350.3, Chapter 8), Discriminatory Conduct Under the Fair Housing Act (24 CFR, Part 100), Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition (October 2009), Recommended Practices in Compliance Monitoring, Capital Needs Assessments, Operating Cost Databases, and Accountant Opinion Letters, Gross Rent Floor (Revenue Procedure 94-57), Election for Number of Bedrooms for Gross Rent Limitation (Revenue Procedure 94-9), SSI Payments Excluded From Rent (PLR 9526009), HUD Notice Calculating Section 8 Rents (PIH 2003-32), HUD Notice Calculating Section 8 Rents (PIH 2003-22), Safe Harbor to Comply with Eviction and Rent Increase Restrictions in LIHTC Extended Use Commitments (Revenue Procedure 2005-37), Decrease in Area Median Gross Income (Revenue Ruling 94-57), Combined Income of Occupants Counted (Revenue Ruling 90-89), Income Determination Follows Section 8 of U.S. Housing Act of 1937 (IRS Notice 88-80), Assets Documentation (Revenue Procedure 94-65), Calculating Income Limits (Revenue Ruling 89-24), Safe Harbor for over income tenants during first year of the credit period (Revenue Procedure 2003-82), Novogradac & Company LLP's Rent & Income Limit Calculator, Elderly Population Restriction and Meals (PLR 8945036), Assistance Living Facilities Defined (PLR 9740007), Home Health Care Services Option (PLR 8945036), Home Health Care Services Option (PLR 8944042), Community Service Facility (Revenue Ruling 2003-77), Utility Allowance Requirements (IRS Notice 89-6), Utilities Paid by Tenant of Submetered Rent-Restricted Units (IRS Notice 2009-44), Compliance Monitoring Requirements (IRS Final Regulation TD 8430), Assignment of Building Identification Number (IRS Notice 88-91), Extended Use Agreement for Allocations Prior to 1990 (Revenue Ruling 92-79), Long Term Commitment to Low Income Housing (Revenue Ruling 95-49), Recapture Bond Requirements (Revenue Ruling 90-60), Targeted Population Restriction (PLR 8944042), Manager Unit and Application Fees in Rent (PLR 9330013), Answers to 12 Questions (Revenue Ruling 91-38), Acq/Rehab of a Residential Rental Property (PLR 200044020), Memorandum of Understanding Between IRS, HUD, and DOJ, Answering 12 Questions about LIHTC (Revenue Ruling 2004-82), SBSE Memo For Examiners Assigned Low-Income Housing Credit Cases Regarding Noncompliance Resulting from Conflicting Program Requirements, NCSHA Recommended Practices in Compliance Monitoring, Capital Needs Assessments, Operating Cost Databases, and Accountant Opinion Letters, NCSHA Recommended Practices in Housing Credit Allocation and Underwriting, Relief for Projects in Disaster Areas (Revenue Procedure 2007-54), Earthquake Relief for Compliance Monitoring (IRS Notice 94-94), Issues Arising when Qualified Low-Income Buildings are Damaged By Casualty (CCA 200913012).
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