lihtc compliance checklist

Virtual and in-person training opportunities will be available to learn about the new manual. (6.8) Annual Recertifications for Mixed Income Properties 0.5 0.5 17 17 re (7.6) Resident Fraud, Tax-Exempt Bond-Financed Properties with Tax Credits (PDF) Rev 02/2009 0.75293 g 0.5 0.5 17 17 re Handbook 4350.3, Change 4 (Excerpts) Rev 11/2014 1 g 0 0 18 18 re 0 0 18 18 re 03/20 Request To Eliminate Re-certifications(PDF) C | Find point of contact information for HUD's grantees. 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. (5.4) Include Raises When Calculating Wages endstream endobj 165 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq (PDF) Rev 03/2018 01/18Utility Allowance Documentation(Excel), 11/15Common Area Unit Designation(PDF) endstream endobj 111 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream It contains examples of records that can be maintained to support Section 3 compliance during a HUD compliance review. Compliance Materials Rent Change Requests Manuals & FAQs Exhibits & References Required Forms 0 0 18 18 re 04/19Carbon Monoxide Detectors & IRS Final Regulations for LIHTC Memorandum, Customer Service Surveys (11.2) Initial Resident Qualifications cA ib@3dC[a!!yY g`Y"R*^4an'9hAd iJ>+3h{xzyjbz-Z7.TizJl}r:rBIb050 Careers |Commissioners | Contact Us 0.75293 g 0.75293 g 4 | Physical inspection of properties to ensure they meet mandated standards. s Exhibit A-2: Project Owner's Management Agent Certification. 1 g 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 C: Actual Usage Estimate Guidance - Method 6 (PDF) 206-587-5113 | Contact Us 0 0 18 18 re (9.8) Specific Documentation Required for Changes to General Partner or Managing Member (5.1) Summary H List theDevelopment for sale with a qualified sales agent or attorney who is qualified to sell affordable multifamily housing developments. (6.1) Summary s 12/14TIC Instructions, 12/15MSHDA Checklist(PDF) (Mandatory Form) Handbook 4350.3, Change 4 (Excerpts), Chapter 5: 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq (9.2) Maintaining Credit Set-Asides s endstream endobj 162 0 obj <>/Subtype/Form/Type/XObject>>stream 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq hbbd```b``)90L.DV!ARx Lz`|q&8X3 Sn>8}]"gqHV_0LJH q6 n 7&` q0? ^; Grantees are encouraged to adapt the suggestions to fit the resources within their individual communities and to meet the needs of their program. 0 0 18 18 re They understand that NIFA has made no independent investigation of theDevelopment Owners submissions and cannot attest to their accuracy or completeness. Credit|Bond/Tax Credit| (11.5) Noncompliance \` ,u COMPENSATION: Pursuant to Colorado regulations, if this job is performed in Colorado, the salary range is $100,000-$120,000 plus bonus potential. 0 0 18 18 re 08/20Notice Of Change In Ownership(PDF) Tenant Based Rental Assistance Guide. The ADA tax credit is available to businesses that generated $1,000,000 or less during the year prior to filing or businesses that employ 30 or fewer full-time employees. 01/19First Year Credit Statement(Word), 08/16List of Unit Numbers(PDF) $ 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$ = > ? 94 0 obj <> endobj 0.5 0.5 17 17 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. 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. Note there are seven worksheets within this workbook. hb``f``d 12//20 20. Title. 36,000. (4.4) Restricting Up-Front Charges To date more than 3 million apartment units have been created through LIHTC with another 100,000 new units added each year. s /Tx BMC (3.6) Housing for the Elderly H Management Agent Forms 0 0 18 18 re Join our mailing list to receive the latest industry news and training updates. At the end of instruction, each participant is allowed one week to complete a 100-question online certification test. 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. (3.1) Introduction Contact txcr.multifamily@nifa.org if you have any questions. (5.10) Unemployment, Disability, Worker's Compensation, Severance Pay Housing Bonds |Special Programs: Doc Title. You should always consult with your retained professional advisor(s) concerning your particular circumstances. 0.5 0.5 17 17 re 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. (1.3) Compliance Basics DCA has published the new LIHTC & HOME Compliance Manual. f 0.5 0.5 17 17 re f Energy | Register for upcoming training, webinars, conferences, and more. 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. Input Tax Credit - CA Inter Taxation Study Material. Streamlined Monitoring Procedures Overview - (5.19) Lump-Sum Receipts Rev 02/2009, Differences Between Tax Credits and Bonds (PDF) Rev 11/2014, Income & Asset Verification Summary Chart (PDF) Rev 07/2016, HUD Occupancy For questions or problems concerning the following compliance forms, contact the PC help desk. NIFAs actions or failure to act on these procedures does not constitute a waiver of the requirements of Section 42. Chapter 5: This annual LIHTC Compliance Training is a comprehensive course specifically designed to assist affordable housing professionals with becoming skilled in project compliance. endstream endobj 98 0 obj <>/Subtype/Form/Type/XObject>>stream 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq Strategic thinking: A CFO must have a deep understanding of the organization's strategic objectives and align the finance function accordingly. 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. (10.3) Additional Owner Requirements Online access to policy bulletins, guidebooks, model documents, trainings, webinars and more. 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. Information for Real Estate Professionals 18 KB. LIHTC Lease Addendum (PDF) endstream endobj 126 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 122 0 obj <>/Subtype/Form/Type/XObject>>stream | 01/19Notice Of Change In Management Agent(PDF) 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). Review of project owner tenant files for documents required to support information provided in Annual Owner Certifications. (4.4) Household Composition Issues, Income & Asset Michigan LIHTC Compliance Manual Checklist - MSHDA Programs - This form lists all of the sources of income and types of assets held by the applicant. (2.13) Mixed-Income Buildings with Different Sized Units 0.5 0.5 17 17 re Streamlined Monitoring Procedures Overview - Nonprofit Sponsor) to Tax Credit projects underwritten for that program unless adjusted for the New Pilot in separate guidance. 0 0 18 18 re Town of Stoddard, 1450 Route 123 North, Stoddard, NH 03464-4153 Ph: 603-446-3326 Fax: 603-446-2278 Government Websites by CivicPlus 1 g (3.3) Large Households 0.5 0.5 17 17 re Calculation of Qualified Contract Price Worksheet (Blank) (Word) The debit note should be issued for the amount of tax which is charged less, i.e. H 15 Streamlined Monitoring - Property List (PDF), Post-Year 15 endstream endobj 120 0 obj <>/Subtype/Form/Type/XObject>>stream 03/14Owners Certification Attachment A(Word). | Publications | Well, between 2015 and 2016 the population of California grew from 39.15 million to an estimated 39.35 million. endstream endobj 159 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream This website provides links to websites owned by other parties. s 1000 2nd Avenue, Suite 2700, 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. Below are MSHDA approved recommended leases and addendums. 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq See Developments Currently Eligible for a Qualified Contract Request. This letter establishes the beginning of the correction period for any non-compliance issues. PowerPoint Slides (PDF) (2.3) Fair Housing The report identifies the location of the violation and generally explains what caused the non-compliance and the action necessary to remedy the non-compliance. Non-compliance can result from moving in non-eligible households, miscalculating rent, or a wide range of other issues. 12/19CO Detector Owner Verification Form 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. 0 0 18 18 re The development must satisfy all low income requirements for a compliance period of 15 consecutive taxable years for owners to receive the full Low Income Housing Tax Credits (LIHTC). (4.4) Changes in Rent Limits (4.4) Model Units 1 g 3 | \` ,u @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > (10.4) Three-Year Period (8.1) Summary It availed the ITC. Verification Checklist can be used for this documentation. Denver, CO. Posted: March 01, 2023. (PDF) Rev 11/2014 Using HUD's inspection protocol for tax credit properties is more than just doing a REAC Inspection. s @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > 1230 O Street, Suite 200 Tax Credit Report Forms and PROCEDURES FOR JANUARY 2023 SUBMISSIONS. (9.5) Specific Documentation Required for Sale of Property 0 0 18 18 re (3.3) Newly Placed-in-Service Acquisition/Rehab Properties IRS Form 8821- Tax Information Authorization endstream endobj 109 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 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. 0.5 0.5 17 17 re (3.4) Housing for the Homeless The Corporate Tax Compliance Associate Vice President ("AVP") role is a position within the Firm Tax Department of the Finance Division of The Carlyle Group, which is responsible for Firm level . 10/17Compliance Officer Customer Service Survey (Word). f s 10/17Compliance Officer Customer Service Survey(PDF) 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). endstream endobj 156 0 obj <>/Subtype/Form/Type/XObject>>stream H Arkansas Standards in Housing. (3.3) Special-Needs Housing Commitments 1 g Income Inclusions and Exclusions (PDF) To date more than 3 million apartment units have been created through LIHTC with another 100,000 new units added each year. E-NEWS Email and you will be notified when there are changes to this manual. Property Managers: Asset Management and Compliance|Information for Investors: Official Statements, 0.5 0.5 17 17 re Development Owners who believe the development they own is eligible for the option year should contact NIFA. 1 g A program to increase small-scale rental development units in rural areas. H (12.4) Assumptions and Reservations 2023 LIHTC Compliance Virtual Workshop #1; 2023 LIHTC Compliance Virtual Workshop #2; . Year End Report Forms, 10/17Auditor-Inspector Customer Service Survey(PDF) (11.4) Record Retention D f 01/23HTF Rent and Occupancy Report(Excel), 01/18Utility Allowance Documentation(PDF) endstream endobj 157 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Low-Income Housing Tax Credit Program Compliance Program compliance forms and information on this page is updated frequently. Subscribe to f LIHTC PROGRAM COMPLIANCE CHECKLIST HOME PROGRAM COMPLIANCE CHECKLIST (Use a separate Checklist per Applicant/Tenant) NAME: Phone #: Unit # PRELIMINARY ELIGIBILITY DETERMINATION Required Completed Completion of Applicant/Tenant Questionnaire Explanation of HOME Program and Requirements Rental Application Completed and Approved EMC 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. Bond 15 Streamlined Monitoring - Property List (PDF) Rev. H 2016: 39.35M population x $2.35 multiplier = $92.47M credits. f 0 0 18 18 re 12/15Certification of Zero Income(Word) (Mandatory MSHDA Best Practice Form), 01/05Income Certification for 125-150% AMGI(PDF) (5.8) On-Site Staff and Management Personnel endstream endobj 127 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 01/05/2023MSHDA 2022 Annual Certification Year End Reporting Memorandum, 12/19New MSHDA Inspection Requirements Memorandum Rev 02/2009, Sample Utility Allowance Schedule (PDF)Rev 02/2009, Public Housing Authorities Link Rev 02/2009, Forms ~ State; 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq endstream endobj 131 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream It contains examples of records that can be maintained to support Section 3 compliance during a HUD compliance review. CDBG Application Handbook (REV March 2020 corrected) CDBG Administration Handbook 2014. . s endstream endobj 170 0 obj <>/Subtype/Form/Type/XObject>>stream File), Tax 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 contains the official notification of any non-compliance and lists each type of non-compliance. 253 0 obj <>stream 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. A copy of a capital needs assessment, prepared by a licensed engineer or architect within the last six (6) months, that meets the requirements set forth in the Exhibits of NIFA'scurrent. LIHTC VAWA and Manager's Unit Guidance. (5.3) Year-to-Date Information EMC (7.2) Commencement of Correction Period (12.3) Annual Self-Certification Form 0.75293 g endstream endobj 124 0 obj <>/Subtype/Form/Type/XObject>>stream (5.9) Alimony and Child Support 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq Seattle, Washington 98104, Calculating Assets 101- Part 1 & Part 2 Training endstream endobj 100 0 obj <>/Subtype/Form/Type/XObject>>stream (2.20) Tax Credit/Bond Financed Properties, Washington (5.5) Outside Agency Verifying Income LIHTC Asset Management 505 N. 7th St., 20th Floor, Suite 2000 St. Louis, MO 63101 Resources Frequently Asked Questions Qualified Contract Process Low Income Housing Tax Credit (LIHTC) forms, documents and manual Certification On Line (COL) FAQ UPDATED 01-27-2014 Certification On Line (COL) Certification On Line (COL) Application (5.17) Individual Retirement, Keogh, and 401(k) Accounts 01/19Notice of Building Casualty Loss or Damage(Word) Tax Credit Specialist is the premier course for earning your LIHTC certification. /Tx BMC 1 g property. Tax Credit (2.14) Available Unit Rule and 100% Affordable Properties (11.1) Introduction H 8 | Recent ReEvision Webinar 12/2015 B. WSHFC Owner Certificate of Utility Estimate (PDF) 10/08 HERA of 2008 Update Memorandum Compliance FAQs The information provided on the website is for general informational purposes only and does not constitute professional advice or an offer to sell or solicitation to buy securities. (5.15) Income from Assets f @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > WBARS 01/05Income Certification for 125-150% AMGI(Word), 11/13HUD 50058Sample Form 0.5 0.5 17 17 re (5.6) Verbal Verification Facilities |Land Acquisition Program 01/23NSP Rent and Occupancy Report (for NSP Projects Only)(Excel), 01/23HTF Rent and Occupancy Report(PDF) endstream endobj 158 0 obj <>/Subtype/Form/Type/XObject>>stream They should contain a completed application with appropriate signatures and dates, income and asset verifications as appropriate, and a thoroughly completed Tenant Income Certification (TIC) that has been signed by all adult members of the household as well as the manager. Once the noncompliance is resolved, NIFA will file a corrected (back in compliance) Form 8823. 09/04Annual Project Summary(Word). 0 0 18 18 re Chapter 10, Qualified 10/08Affidavit of Income Self Certification(Word), 12/14Tenant Income Certification (TIC)(PDF) (Mandatory Form) f /Tx BMC At a minimum, theDevelopment Owner must provide the following to NIFA: Qualified Contract Notification Letter (2.7) Common Area Units (5.1) Income-General Information (10.4) Marketing by the Commission 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. s (2.6) Evictions 0.75293 g Issues (PDF) Rev 12/2019 M | s s (2.11) Available Unit Rule and Mixed-Income Properties (10.2) Fees Federal Low Income Housing Tax Credit A significant change in the method by which the federal government assists the development of affordable housing was born with the passage of the Tax Reform Act of 1986. (1.6) Additional State Rules endstream endobj 136 0 obj <>/Subtype/Form/Type/XObject>>stream (4.1) How to Determine Rent /Tx BMC (2.11) Available Unit Rule IRS Form 8586- Low Income Housing Credit (11.5) Definitions, Post-Year 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. H 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. Move-In Master File Checklist- LIHTC PPMG 17a PPMG. endstream endobj 114 0 obj <>/Subtype/Form/Type/XObject>>stream Created by the Tax Reform Act of 1986, the LIHTC program gives State and local LIHTC-allocating agencies the equivalent of approximately $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, or new construction of . (11.5) Post-Year 15 Training Certification (PDF) Rev 03/2018 endstream endobj 115 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream aTLR&R$R3GJh@h`bc2:$8P"4Of"5I"SD`FaF\G[ST[pYEQQ;%C1 u`X h 9u- The following programs are monitored by DHCD: 0 0 18 18 re The NEP program provides MSHDA funding statewide for activities directly tied to stabilization and enhancement of Michigan neighborhoods by nonprofit 501(c)3 agencies. s (11.3) Common Area Units (5.8) Non-Wage Income Learn about what HUD grantees are doing across the nation. s (9.4) Timeframe and Completeness endstream endobj 142 0 obj <>/Subtype/Form/Type/XObject>>stream @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > endstream endobj 149 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream endstream endobj 168 0 obj <>/Subtype/Form/Type/XObject>>stream The forms linked below are intended for informational purposes only. endstream endobj 141 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 0 0 18 18 re MSHDA model lease forms are located on the AM Policies and Formspage. 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. 0 0 18 18 re 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. Eligible to participate in the company benefits plan. 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. (12.5) Definitions, Tax 0 0 18 18 re Rev 10/2018 Environmental Review, Davis Bacon, Relocation, Fair Housing and Section 3 requirements are also monitored as they relate to these programs. Records Retention (PDF) Rev 11/2014 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. Find award and allocation amounts for grantees by year, program, and state. 128 127. 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq Review theDevelopment Owners packet of due diligence materials and agree on an appropriate Qualified Contract Price (QCP). Owner Utility Estimate Checklist - Methods 6-8 (PDF) H \` ,u All units must have a valid lease. NOTE: In connection with the process described herein, NIFA is not acting as an agent for any Development Owner and NIFA is not responsible for finding a buyer for anyDevelopment and is not representing anyDevelopment Owner in the sale of suchDevelopment Owners Development. | They are solely responsible for documents and information provided to NIFA and to prospective purchasers. (12.5) Noncompliance H The content of such sites is not within Novogradacs control and Novogradac has no responsibility for the information or content thereon.