lihtc compliance checklist

11/15Common Area Unit Designation(Word), 01/19First Year Credit Statement(PDF) (4.4) Changes in Rent Limits Register for upcoming training, webinars, conferences, and more. 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq Your use of the website or any of the information available on it does not constitute a professional services relationship between you and Novogradac & Company LLP or its affiliates (Novogradac). 11/2017 Development Owners who elect to exercise their qualified contract process must complete the forms located under the Qualified Contract Process dropdownand provide all required due diligence documentation listed therein. 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq Rather, NIFA is simply sharing information about the Development for the convenience of the respectiveDevelopment Owners who are attempting to sell their developments at a Qualified Contract Price. s NIFA performs desk audits, inspects housing, and reviews tenant files. 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq 0 0 18 18 re If there are questions regarding Compliance Forms, please email Compliance Monitoring Unit or call (517) 241-2560. 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 . Stream Presentation on Vimeo (32 H s endstream endobj 138 0 obj <>/Subtype/Form/Type/XObject>>stream This annual LIHTC Compliance Training is a comprehensive course specifically designed to assist affordable housing professionals with becoming skilled in project compliance. NIFA will perform a desk audit, conduct a site visit, or review the owner's tenant files and provide the owner with a summary report of the findings. 0 0 18 18 re minutes) 10/17Compliance Officer Customer Service Survey(PDF) %PDF-1.7 % This can occur, at the Development Owners election, any time after year 14 in a 30-year Land Use Restriction Agreement (extended use agreement or LURA) or after year 29 in a 45-year LURA. 03/14Owners Certification of Completion of Repairs(Word) In addition to the above, theDevelopment Owner must agree to the following requirements: DevelopmentOwner Certifications and Commitment. (2.3) Violence Against Women Act (VAWA) WBARS Allowance Spreadsheet - Method 6 (Excel), Webinar 0 0 18 18 re (11.5) Post-Year 15 Training endstream endobj 112 0 obj <>/Subtype/Form/Type/XObject>>stream f s Resources for Housing Development - Louisiana (3.1) Introduction Fax: Non-compliance can result from moving in non-eligible households, miscalculating rent, or a wide range of other issues. endstream endobj 141 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream \` ,u 12/15MSHDA Checklist(Word) (Mandatory Form) Find point of contact information for HUD's grantees. (2.11) Available Unit Rule and Mixed-Income Properties EMC 0.5 0.5 17 17 re oV(0u 6U (6.3) Supporting Documentation Forms 0 0 18 18 re (9.1) Summary 2023 LIHTC Compliance Virtual Workshop #1; 2023 LIHTC Compliance Virtual Workshop #2; . EMC 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. (5.7) Self-Employed Income Verification LIHTC/Tax Exempt Bonds without Section 8 rental assistance and which have reached the end of their initial tax-credit compliance period. The relief has been granted due to unavoidable labor and supply-chain disruptions delaying the construction, rehabilitation, and restoration of properties throughout 0.5 0.5 17 17 re Related Forms: We use cookies on this site to provide a better experience with content and analytics. H The course is customized to highlight Nebraska state specific policies and procedures in addition to federal requirements. Rental Development LIHTC Program | Arizona Department of Housing (9.3) Conditions and Consent (5.3) Determining Annual Wage Income f Electronic Storage Policy Memo (New September 2022) 2022 Compliance Monitoring Guidance (February 2022) Casualty Loss Guidance (February 2022) Compliance Fines (August 10, 2022) Exempt Unit Change Policy (February 2022) 2021 Compliance Monitoring Guidance. (5.19) Lump-Sum Receipts PDF Move-In Master File Checklist- LIHTC - ppmginc.com Affordable Housing Compliance Services | RealPage Subscribe to 0.75293 g Tax Credit Compliance Procedures Manual - WSHFC endstream endobj 128 0 obj <>/Subtype/Form/Type/XObject>>stream @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > (5.18) Rental Income (1.5) Restricted Rents 1 | Low-Income Housing Tax Credit (LIHTC) | HUD USER The Low-Income Housing Tax Credit (LIHTC) program (also known as Section 42) is the federal governments primary method of funding new affordable rental housing in the USA. Rev 02/2009, Differences Between Tax Credits and Bonds (PDF) Rev 11/2014, Income & Asset Verification Summary Chart (PDF) Rev 07/2016, HUD Occupancy (3.7) Double Counting P | 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq (3.7) Farmworker Housing 0.5 0.5 17 17 re 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. 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. 9 | endstream endobj 124 0 obj <>/Subtype/Form/Type/XObject>>stream The amount of HPD's authority is negotiated annually with the State. In compliance with the Federal Tax code, the HMFA conducts annual file and physical inspections for 20% of the 66,000 units it monitors for 1/3 of the projects in its portfolio. 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. (5.1) HUD Occupancy Handbook 4350.3, Chapter 5 | See also: HUD Forms - Can be found on theHUDCLIPSwebsite. \` ,u Sections 3.4, 3.5, & 3.7. MP4 of 76 KB. endstream endobj 164 0 obj <>/Subtype/Form/Type/XObject>>stream F | (2.11) Available Unit Rule Explore collections of guided learning opportunities on a variety of topics. CTCAC Compliance Monitoring - California State Treasurer View important LIHTC Compliance forms and documents Tax Credit Pilot | HUD.gov / U.S. Department of Housing and Urban Tenant File Forms Some developments may have committed to longer affordability periods as outlined in their Land Use Restriction Agreement (LURA). The Compliance Period (IRC 42(i)(1)) is the duration of the credit period plus 5 years. Tax Invoice, Credit and Debit Notes - CA Inter Tax Study Material (2.1) Summary (5.10) Foster Child income endstream endobj 169 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 18 KB. 1 g There are subtle differences between doing a REAC Inspection and a UPCS Compliance inspection. Records Retention (PDF) Rev 11/2014 (2.19) Inspections Tax Credit - A. J. Johnson Consulting Services, Inc. (1.6) Tax Credit Only Properties 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq (5.6) Picture Identification (5.1) Summary endstream endobj 135 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Description. 0.5 0.5 17 17 re 1 g J | Housing Tax Credit Program Compliance Guide 10/17Compliance Officer Customer Service Survey (Word). Files are reviewed using guidelines and requirements set forth by the IRS and administered by the state agency monitoring for Section 42 Low Income Housing Tax Credit compliance. 01/23NSP Rent and Occupancy Report (for NSP Projects Only)(Excel), 01/23HTF Rent and Occupancy Report(PDF) LIHTC VAWA and Manager's Unit Guidance. Rev 02/2009, Sample Utility Allowance Schedule (PDF)Rev 02/2009, Public Housing Authorities Link Rev 02/2009, Forms ~ State; %%EOF /Tx BMC f Arkansas Standards in Housing. Search for a specific grantee and view itsawards, contact information, and reports, and more. At a minimum, theDevelopment Owner must provide the following to NIFA: Qualified Contract Notification Letter They have conducted their own investigation and due diligence in determining calculations of the Qualified Contract Price. 0 0 18 18 re Recent ReEvision Webinar 12/2015 Income and Rent Limits 0 0 18 18 re Verification Checklist can be used for this documentation. NIFA may, in its sole discretion, on its own behalf or on behalf of another party, elect to submit a Qualified Contract to purchase the property. MSHDA model lease forms are located on the AM Policies and Formspage. (12.2) Request Process (11.5) Utility Allowances 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. (2.14) Effect of Resident Moving to Another Unit (100% Affordable Properties( s RealPage Compliance Services provides services to ensure compliance with local, state and federal Affordable Housing regulations. Post the Development information on NIFAs website. f 1 g (9.2) Maintaining Credit Set-Asides IRS Rev . (3.3) Newly Placed-in-Service Acquisition/Rehab Properties 0.5 0.5 17 17 re endstream endobj 166 0 obj <>/Subtype/Form/Type/XObject>>stream The 30% subsidy, commonly called the "automatic 4% tax credit," is for new construction that includes additional subsidies or that can be used for the acquisition cost of existing buildings. PDF Tenant Certification Process - Usda HUD and LIHTC Compliance Help - File Audits, Pre-MOR 0.75293 g IRS Form 8821- Tax Information Authorization (11.2) Qualifying for the Waiver MAP| Compliance Online Reference Manual Assisting in the Development and Maintenance of Quality Rental Housing Communities Affordable to . Compliance FAQs endstream endobj 100 0 obj <>/Subtype/Form/Type/XObject>>stream \` ,u Environmental Review, Davis Bacon, Relocation, Fair Housing and Section 3 requirements are also monitored as they relate to these programs. Resources PowerPoint Slides (PDF) Income verifications are in compliance with methods required by state, federal, city and/or county polices . Tax Credit and HOME Compliance - HPD - New York City 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. A detailed set of digital photographs of the Development, including the interior and exterior of representative apartment units and buildings, and the Development's grounds. Recertification Elimination Forms Tax Credit Compliance Procedures Manual was designed to give property owners and 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. Child Support Income (Part 380) HUD 50058 & HUD 50059 forms (Chapter 11) HUD 9887 and HUD 9887A forms (Part 634) Lease Agreement (Part 630). Rev 02/2009 0 0 18 18 re 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq IRS Form 8611- Recapture of Low Income Housing Credit Energy | (3.3) Large Households endstream endobj 127 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (9.2) Transfers to Owners with No Previous Tax Credit Experience endstream endobj 139 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream You may submit comments via the online form here. 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) Virtual and in-person training opportunities will be available to learn about the new manual. B. WSHFC Owner Certificate of Utility Estimate (PDF) 207 E-NEWS Email and you will be notified when there are changes to this manual. Audits for compliance with due diligence for certain tax benefits, such as the earned income tax credit (EITC), child tax credit (CTC), including additional child tax credit (ACTC), credit for other dependents (ODC), American opportunity tax credit (AOTC) and/or the head of household (HOH) filing status, as defined by IRS Section IRC 6695(g) are another tier of our Preparer Compliance Program. HUD may conduct a review of the recipient agency to determine compliance. f 01/23HTF Rent and Occupancy Report(Excel), 01/18Utility Allowance Documentation(PDF) Handbook 4350.3, Change 4 (Excerpts) Rev 11/2014 2016 MAP Guide Waivers for Chapter 14.13.D, Repayment Terms for Deferred Developer Fees (03/22/2019) H 4 | (10.4) Marketing by the Commission LIHTC Program Policies (See Current Year E-News monthly newsletter. H (12.4) Assumptions and Reservations Rev 10/2018 - RD may wage match periodically (If available in . (7.1) Noncompliance with State Requirements (5.20) Calculating Income from Assets s SEARCH|CONTACT, Asset Management and Compliance 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. f Tax Credit Project (PDF), Differences Between Tax Credits and Bonds (PDF), Income & Asset Verification Summary Chart (PDF), HUD Occupancy 0.75293 g Multi-Family/Rental Pay Request Checklist. \` ,u 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) Missouri Housing Development Commission - MHDC endstream endobj 115 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream /Tx BMC H This document is intended to be used as a reference tool to help grantees prepare for HUD compliance reviews. 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. endstream endobj 113 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 253 0 obj <>stream 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. For all other Michigan State Housing Development Authority (MSHDA) and Low Income Housing Tax Credit (LIHTC) properties there is no specific required lease. CHFA: Compliance Forms - CHFA.Colorado 0.75293 g Browse the library of grantee reports and plans, organized by program. Chapter 5, Exhibit 1: Small Business Accounting Checklist - This accounting checklist document is helpful for the accountants, bookkeepers, and Priorities First, Inc Business/Self Employed Tax Preparation Checklist Business Tax Preparation Tips - If you are a business owner, proficiency in tax preparation is of utmost importance. Appendix: This narrative must include, at a minimum, the following: A description of all income, rents and other program restrictions, if any, applicable to the operation of the Development. endstream endobj 98 0 obj <>/Subtype/Form/Type/XObject>>stream All information submitted is accurate and complete. 1 g First Year Records for LIHTC - National Center for Housing Management s Be the first to know! 0.75293 g s (6.1) Owner Annual Certifications (2.16) Appendix O (9.8) Specific Documentation Required for Changes to General Partner or Managing Member Developers & Contractors Environmental Review. Chapter 10, Qualified Use this form to create a record of your income and rent limits along with the income and asset calculations for each household. Act as a facilitator for requests of prospective purchasers by referring them to the appropriate contact personsfor the Development Owner. Once the noncompliance is resolved, NIFA will file a corrected (back in compliance) Form 8823. endstream endobj 137 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream | Requests for Public Records endstream endobj 160 0 obj <>/Subtype/Form/Type/XObject>>stream Policy Regarding Vacancies Pending a . All units must have a valid lease. Child Support Affidavit 131. NOFA and grant programs for nonprofit agencies and local units of government. Chapter 5, Appendix 3:Acceptable Housing Tax Credit Program (LIHTC) - Georgia \` ,u Certification (PDF) Rev 03/2018 Rev 02/2009 endstream endobj 157 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream EMC | EMC Recertification Specialist Job in Jacksonville, FL at Millennia Housing Lease Addendums (5.10) Unemployment, Disability, Worker's Compensation, Severance Pay 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. The following forms are for use in creating tenant files: 10/08Affidavit of Income Self Certification(PDF) endstream endobj 154 0 obj <>/Subtype/Form/Type/XObject>>stream f endstream endobj 130 0 obj <>/Subtype/Form/Type/XObject>>stream 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).