lihtc compliance checklist lihtc compliance checklist

endstream endobj 105 0 obj <>/Subtype/Form/Type/XObject>>stream Properties may generate a LIHTC for investors. Funds 1 g 0.5 0.5 17 17 re @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > Attn: Management & Compliance Pros: "Take our survey on improving our paperwork & enter to win a gift basket!". This annual LIHTC Compliance Training is a comprehensive course specifically designed to assist affordable housing professionals with becoming skilled in project compliance. Multifamily Capital Fund Initiative FAQs and 2023 Qualified Allocation Plan and Multifamily Rental Financing Program Guide Revision -- Update and Schedule for Listening Sessions. f /Tx BMC Utility Allowance Procedures for LIHTC Properties - Summary of The following programs are monitored by DHCD: 01/23HOME Rent and Occupancy Report (for HOME Projects Only(Excel), 01/23NSP Rent and Occupancy Report (for NSP Projects Only)(PDF) | f E-News monthly newsletter. 0.5 0.5 17 17 re f endstream endobj 114 0 obj <>/Subtype/Form/Type/XObject>>stream (5.19) Personal Property Held as an Investment Some of the information may have been provided by third parties and is based solely on information provided to Novogradac by that third party. Provided below with the Year End Reports. Event Calendar The Tax Compliance/Operations - AVP role is a position within the Firm Tax Department of the Finance Division of The Carlyle Group, which is responsible for Firm level Corporate and Partnership . 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq 01/23LIHTC/1602/TCAP Owner's Certification of Continued Program Compliance (PDF), 01/23LIHTC/1602/TCAP Owner's Certification of Continued Program Compliance(Word), 01/23HOME/NSP Owner's Certification of Continued Program Compliance(PDF) (5.8) Social Security, Supplemental Security Income (SSI) 0 0 18 18 re (2.7) Common Areas 04/19Carbon Monoxide Detectors & IRS Final Regulations for LIHTC Memorandum, Customer Service Surveys endstream endobj 141 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream The Act includes Section 42 of the Tax Code, the Low Income Housing Tax Credit Program. (11.2) Initial Resident Qualifications s (5.1) HUD Occupancy Handbook 4350.3, Chapter 5 | See also: 0 0 18 18 re Doc Title. 0 0 18 18 re If the report indicates noncompliance, the owner is expected to respond to NIFA within 60 days from the date of NIFA's letter to provide clarification or document that the issues of noncompliance have been addressed and corrected. The Internal Revenue Service (IRS) Low Income Housing Tax Credit is available under Section 42 of the Internal Revenue Code. The content of such sites is not within Novogradacs control and Novogradac has no responsibility for the information or content thereon. 01/23HTF Rent and Occupancy Report(Excel), 01/18Utility Allowance Documentation(PDF) 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq 0.5 0.5 17 17 re 0 0 18 18 re s Forms of Verification (PDF), Chapter 5, Exhibit 1: 0.5 0.5 17 17 re 0.5 0.5 17 17 re They understand that NIFA has made no independent investigation of theDevelopment Owners submissions and cannot attest to their accuracy or completeness. 01/19Notice Of Change In Management Agent(PDF) (7.3) Delays in Making a Unit Suitable for Occupancy 206-587-5113 | Contact Us If the owner is reported as out of compliance, the IRS sends a notification letter to the owner identifying the type of noncompliance reported on Form 8823. | Publications | Developers & Contractors Environmental Review. (5.18) Mortgage or Deed of Trust Any opinions or conclusions expressed by any third party should not be construed as opinions or conclusions of Novogradac. endstream endobj 138 0 obj <>/Subtype/Form/Type/XObject>>stream Extension Request Form (For All Inspections) (2.4) Non-Transient Use endstream endobj 139 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream IRS Form 8611- Recapture of Low Income Housing Credit 1 g A. WSHFC FUNDING INVOLVED: (Check all that apply) LIHTC OAHTC RISKSHARE CONDUIT ELDERLY/DISABLED PB-Section 8 Housing Plus Trust Fund GHAP NSP2 HPF Other: . They are solely responsible for documents and information provided to NIFA and to prospective purchasers. 0.75293 g endstream endobj 134 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 148 0 obj <>/Subtype/Form/Type/XObject>>stream (3.3) Persons with Disabilities Information for Real Estate Professionals endstream endobj 129 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream IRS Form 8821- Tax Information Authorization Data-driven decision-making: CFOs must be able to analyze financial data and trends . (5.10) Foster Child income The Tax Credit Compliance Procedures Manual was designed to give property owners and managers step-by step instructions on how to fulfill compliance requirements if Commission-issued low-income housing tax credits were used to finance a property. 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. Environmental Review, Davis Bacon, Relocation, Fair Housing and Section 3 requirements are also monitored as they relate to these programs. 0.5 0.5 17 17 re State Requirements (PDF) Rev 09/2019 Averaging Guidelines (PDF) NEW 05/01/2020, Home|About | Tax Credit Specialist Advanced (TCSA)January 23-25, 2022Register Now, Tax Credit Specialist Online (TCS)January 30-February 2, 2023Register Now, Tax Credit Specialist Online (TCS)February 13-16, 2023Register Now, Tax Credit Specialist Online (TCS)February 27-March 2, 2023Register Now, Tax Credit Specialist Online (TCS)March 13-16, 2023Register Now, Tax Credit Specialist Advanced (TCSA)March 20-22, 2022Register Now, Tax Credit Specialist Online (TCS) April 17-20, 2023 Register Now, Tax Credit Specialist Online (TCS) May 1-4, 2023 Register Now, Tax Credit Specialist Online (TCS) May 15-18, 2023 Register Now, Tax Credit Specialist Online (TCS) June 5-8, 2023 Register Now, Tax Credit Specialist Online (TCS) June 20-23, 2023 Register Now. Recertification Waivers Nonprofit Sponsor) Tax Credit Report Forms and PROCEDURES FOR JANUARY 2023 SUBMISSIONS. f LIHTC/Tax Exempt Bonds without Section 8 rental assistance and which have reached the end of their initial tax-credit compliance period. Lease Addendums endstream endobj 109 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream f | Information for Instructors | Multifamily Housing: (PDF) Rev 03/2018 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 endstream endobj 102 0 obj <>/Subtype/Form/Type/XObject>>stream The following forms are for use in creating tenant files: 10/08Affidavit of Income Self Certification(PDF) Property Managers: Asset Management and Compliance|Information for Investors: Official Statements, Review theDevelopment Owners packet of due diligence materials and agree on an appropriate Qualified Contract Price (QCP). 0.5 0.5 17 17 re (5.8) On-Site Staff and Management Personnel endstream endobj 111 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (12.1) Introduction Input Tax Credit - CA Inter Taxation Study Material. f 0 0 18 18 re Act as a facilitator for requests of prospective purchasers by referring them to the appropriate contact personsfor the Development Owner. endstream endobj 112 0 obj <>/Subtype/Form/Type/XObject>>stream (2.1) Summary (2.15) Utility Allowance Documentation 0.75293 g HUD may conduct a review of the recipient agency to determine compliance. A thorough narrative description of the Development, including all amenities suitable for familiarizing prospective purchasers with the Development. 1 g f A Certification is required by most property management companies, local housing authorities, owners and others involved in LIHTC housing for any of their staff who are involved in determining if an applicant for tax credit housing is eligible and if a tax credit property complies with the various rules of the program as set forth by the IRS and HUD. (5.18) Real Estate Owned (4.4) Restricting Up-Front Charges Exhibit A-21: Notice to Residents of Managements' Intention to submit a Rent Increase Request to MHDC for Approval. @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > This program has been the largest driver of the production of new affordable . (11.1) Introduction (3.3) Special-Needs Housing Commitments s Housing Trust Fund (HTF) Income Limits 2022 Housing Trust Fund (HTF) Income Limits 2022 Download Compliance: Income and Rent Limits Housing Trust Fund (HTF) Rent Limits 2022 Housing Trust Fund (HTF) Rent Limits 2022 Download Compliance: Income and Rent Limits HOME Income Limits 2022 HOME Income Limits 2022 Download N (Not Applicable) Activity is not applicable to this . Owners receiving LIHTC in 1990 or later years must continue to maintain the low income occupancy of their developments for an additional 15+ years beyond the end of the 15-year compliance period. @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > endstream endobj 125 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (2.3) Fair Housing Income and Rent Limits @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > /Tx BMC (3.2) Additional Low-Income Housing Commitments Development Information Forms "Jcl~Q'16I"Fe\rIi "&.#"N6s 8.:J`D(lJ" yHH You may submit comments via the online form here. 08/2019, Forms ~ Federal (8.1) Income Restrictions, Property Transfers 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. LIHTC Program Policies (See Current Year Accordingly, the credits allocated to this would increase as follows: 2015: 39.15M population x $2.30 multiplier = $90.05M credits. Information about the Pass-Through Bond Program, Information on Direct Lending Parameters, Gap Financing Programs, Equity Bridge Loan Program, Notice of Intent to Apply, LIHTC Application and Exhibit Requirements for Direct Lending Programs, Other Information (Mortgagor and Contractor's Cost Certification Guide and forms, HOME Subsidy Limits, Direct Lending Intake Forms, Contractor Requirements, and the Modified Pass-Through Program), Parameters, Standards of Design for Preconstruction manual and forms. A copy of the most recent 12 months of operating statements for the Development which fairly sets forth the Development's operating expenses, debt service, gross receipts, net cash flow and debt service coverage ratio. endstream endobj 169 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream This document describes (1) the federal and state resources available for financing rental housing through the plan, (2) the legislative requirements for distributing these resources, (3) the State's preference for the location and type of such housing, (4) the process used for evaluating applications and awarding these resources, and (5) program (2.15) Utility Allowances 1230 O Street, Suite 200 s H Attendees learn all the details of how to determine an applicants eligibility and how to keep a LIHTC property in compliance with the many rules and regulations of the IRS and HUD, as spelled out in HUD Handbook 4350.3 REV 1 and other federal notices. 0.5 0.5 17 17 re M | (11.2) Qualifying for the Waiver EMC 0 0 18 18 re 0.75293 g 0 0 18 18 re NCHM is one of the largest, oldest, and most respected credentialing agencies in the country and the only one specifically established by HUD to train and certify housing professionals. endstream endobj 135 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 0 0 18 18 re @ hcG h.p h$ 5CJ h$ h.p 5CJ , &P / =!"#$% ^ 6 6 6 6 6 6 6 6 6 v v v v v v v v v 6 6 6 6 6 6 > 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 h H 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 2 0 @ P ` p 2 ( 0 @ P ` p 0 @ P ` p 0 @ P ` p 0 @ P ` p 0 @ P ` p 0 @ P ` p 8 X V ~ _HmH nH sH tH. endstream endobj 101 0 obj <>/Subtype/Form/Type/XObject>>stream Town of Stoddard, 1450 Route 123 North, Stoddard, NH 03464-4153 Ph: 603-446-3326 Fax: 603-446-2278 Government Websites by CivicPlus hZ{o8*npmS4v c,y%|3$%++M`|djLG$g,Iq!H+hOx. Form SS-4 Application for Employer Identification Number (PDF), Financial Solvency and LIHTC History (PDF), LIHTC Ownership Capacity Certification Form, LIHTC Management Capacity Certification Form, Qualified Contract Notification Letter (PDF), Calculation of Qualified Contract Price Worksheet (Blank) (Word), Calculation of Qualified Contract Price Worksheet (Sample) (Word), Post-Year 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) (9.2) Types of Transfers or Assignments Requiring Commission Consent (2.13) Mixed-Income Buildings with Different Sized Units f N | (5.20) Assets Disposed of for Less than Fair Market Value Compliance Online Reference Manual Assisting in the Development and Maintenance of Quality Rental Housing Communities Affordable to . Income/asset verifications and other forms. f (10.3) Additional Owner Requirements hbbd```b``)90L.DV!ARx Lz`|q&8X3 Sn>8}]"gqHV_0LJH q6 n 7&` q0? ^; (7.4) Overcharging Rent (5.3) Determining Annual Wage Income B. HUD Tax Credit Assistance Program (TCAP) 102 Part 8.3 Consolidated Appropriations Act of 2018 (Average Income) 102 Part 8.4 California State Law - AB 1920 (Fine Authority) 103 . 7 | E-08 Notice of Intent to Clear Land. (4.4) Household Composition Issues, Income & Asset Current Ownership Entity Certification (10.2) Qualified Contract Packet Materials (1.3) Compliance Basics 08/20Notice Of Change In Ownership(PDF) For more information or questions, property managers and owners should contact | (9.4) How to Submit Required Documents To date more than 3 million apartment units have been created through LIHTC with another 100,000 new units added each year. H 0.5 0.5 17 17 re 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq (2.11) Available Unit Rule Please check off each item as it pertains to the property and submit complete package on or before January 31st. MSHDA model lease forms are located on the AM Policies and Formspage. These checklists are not required to be completed by owners and managers. LIHTC Compliance Manual 2017 Certification On Line Manual (COL) Novogradac Rent & Income Calculator Rent & Income Calculator Novogradac Housing Disaster Relief Housing for Displaced Residents Nevada Nevada Displaced Household Certification Owners Request for Emergency Housing Relief House and Ground Rules-TC 63TC. 0.5 0.5 17 17 re LIHTC Lease Addendum (Word). Cooperate with NIFA to present a qualified contract for purchase of the Development. Form SS-4 Application for Employer Identification Number (PDF) (3.7) Farmworker Housing Browse the library of grantee reports and plans, organized by program. 0.75293 g (2.10) Mixed-Income Properties EMC Title. 1 . H s 10/08Affidavit of Income Self Certification(Word), 12/14Tenant Income Certification (TIC)(PDF) (Mandatory Form) 2023 LIHTC Compliance Virtual Workshop #1; 2023 LIHTC Compliance Virtual Workshop #2; . Owners committing compliance violations may be subject to administrative and judicial sanctions pursuant to remedies afforded NIFA in the LIHTC LURA. - If Tax Credit Property, refer to IRS Section 42 - If Section 8(HUD) & Tax Credit, the most restrictive rule applies f Application Materials 2022-2023. . 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq File Audit Forms - Complete through the CARS application on the Online Systemspage. 1 g (5.21 Additional Income and Asset Information 0 0 18 18 re (5.2) Verification 10/08 HERA of 2008 Update Memorandum 0.5 0.5 17 17 re endstream endobj 118 0 obj <>/Subtype/Form/Type/XObject>>stream LIHTC Ownership Capacity Certification Form 0 LIHTC Management Capacity Certification Form contains the official notification of any non-compliance and lists each type of non-compliance. (2.14) Available Unit Rule and 100% Affordable Properties (10.4) Three-Year Period \` ,u Bond Compliance Reports - SUBMISSION PROCEDURES FOR JANUARY 2023 Rev 12/2022. EMC (5.16) Types of Assets 0 0 18 18 re 0.5 0.5 17 17 re Facilities |Land Acquisition Program HOME |SITE Register for upcoming training, webinars, conferences, and more. 0 0 18 18 re 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. H endstream endobj 145 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 0.75293 g I | (5.18) Rental Income (2.11) Available Unit Rule and Mixed-Income Properties Rev 12/29/2022, Regulations & Other Authority (PDF)| pdf. (2.16) Changes in Allowance /Tx BMC endstream endobj 121 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 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. (5.5) Tips Videos 05/2008, Reporting & P | 1 g 08/22Extension Request(PDF) (7.1) Noncompliance with State Requirements 0 0 18 18 re Issues (PDF) Rev 12/2019