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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. K | TheDevelopment Owner agrees to indemnify, defend and hold NIFA harmless with respect to the use of information submitted with respect to the Development. pdf. 0.5 0.5 17 17 re (10.1) Summary f (5.19) Personal Property Held as an Investment NOFA and grant programs for nonprofit agencies and local units of government. (3.2) Additional Low-Income Housing Commitments Inspections B 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. What are the eligibility requirements for the ADA Tax Credit? Income verifications are in compliance with methods required by state, federal, city and/or county polices . @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > (7.4) Overcharging Rent f (12.4) Assumptions and Reservations Cooperate with NIFA to present a qualified contract for purchase of the Development. You may submit comments via the online form here. (10.3) Additional Owner Requirements Forms of Verification (PDF), Chapter 5, Exhibit 1: (10.4) Three-Year Period (1.2) Tax Credit Program Overview The following forms are for use in creating tenant files: 10/08Affidavit of Income Self Certification(PDF) Compliance monitoring is basically comprised of three processes: City of New York. LIHTC Management Capacity Certification Form Any opinions or conclusions expressed by any third party should not be construed as opinions or conclusions of Novogradac. 0.5 0.5 17 17 re These are some of the checklists that Compliance Monitors use when they perform onsite monitoring visits at TDHCA administered properties. 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq f Extension Request Form (For All Inspections) H (5.6) Picture Identification (5.5) Tips Description. s CDBG Application Handbook (REV March 2020 corrected) CDBG Administration Handbook 2014. . s \` ,u 1 g Eligible to participate in the company benefits plan. LIHTC Lease Addendum (Word). endstream endobj 105 0 obj <>/Subtype/Form/Type/XObject>>stream endstream endobj 160 0 obj <>/Subtype/Form/Type/XObject>>stream 0 0 18 18 re For more information about how we use cookies, see our Privacy Policy. 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. f All units must have a valid lease. endstream endobj 107 0 obj <>/Subtype/Form/Type/XObject>>stream 12/14Tenant Income Certification (TIC)(Word) (Mandatory Form) (4.4) Restricting Up-Front Charges endstream endobj 142 0 obj <>/Subtype/Form/Type/XObject>>stream 12/14TIC Instructions, 12/15MSHDA Checklist(PDF) (Mandatory Form) 1230 O Street, Suite 200 f LIHTC Projects for Sale Under Qualified Contract For 9% Tax Credit Allocation Developments: Margaret Feml, Asset Management Unit Phone (518) 486-6273; Fax (518) 486-3366 NYS Homes & Community Renewal The Hampton Plaza 38-40 State Street, Albany, NY 12207 9% Developments for Sale through Qualified Contract: None at this time Compliance monitoring is basically comprised of three processes: Review of Annual Owner Certifications submitted by March 1st, to ensure income-qualified tenants are paying rents which are below the mandated limits. 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). endstream endobj 148 0 obj <>/Subtype/Form/Type/XObject>>stream minutes) (2.2) For Use by the General Public (2.11) Available Unit Rule and Mixed-Income Properties The Low-Income Housing Tax Credit (LIHTC) program (also known as Section 42) is the federal government's primary method of funding new affordable rental housing in the USA. The web Browser you are currently using is unsupported, and some features of this site may not work as intended. endstream endobj 119 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Census Population Estimates 2015-2019. 7 | 0 0 18 18 re 12/12MSHDA Checklist (Spanish)(PDF) (Mandatory Form), 10/15Student Verification(PDF) (11.5) Fulltime Student Households 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq 0.75293 g to Tax Credit projects underwritten for that program unless adjusted for the New Pilot in separate guidance. (11.5) Post-Year 15 Training Multifamily Capital Fund Initiative Application Open. (9.9) For Changes to Limited Partner or Upper Tier Member please provide 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) (2.15) Utility Allowance Documentation . 76 KB. endstream endobj 134 0 obj <>/Subtype/Form/Type/XObject>>stream 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 Sections 3.2 & 4.2.B. H 1 | s IRS Form 8821- Tax Information Authorization Loan sizing ratios under 220, 223 and 231 are provided, and these apply to Tax Credit projects underwritten for each program unless adjusted for the New Pilot in separate guidance. 1 g Request for Proposals - 2023 Tax Credit General Set-Aside Lincoln, NE 68508-1402. Appendix O / Added language to Management Change Checklist . Verification Checklist can be used for this documentation. EMC IRS Form 8609- Low Income Housing Credit Allocation Certification 1 g (5.15) Additional Income Verification Guidelines 0.5 0.5 17 17 re Provide access to the Development during regular business hours for inspection by NIFA and prospective purchasers of the Development. 01/2020 @ $a$ $a$ " * ; = > ? See Developments Currently Eligible for a Qualified Contract Request. Utility Careers |Commissioners | Contact Us f N | 0.5 0.5 17 17 re Housing Bonds |Special Programs: (6.3) Supporting Documentation Forms endstream endobj 168 0 obj <>/Subtype/Form/Type/XObject>>stream Exhibit A-22: Authorization for Release of Property Information. endstream endobj 145 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (7.2) Common Reasons for Noncompliance 9 | H @D)YolE;a!.(X7pId>Y]8{x y$=/KOPc4 > (4.4) Model Units Find award and allocation amounts for grantees by year, program, and state. These checklists are not required to be completed by owners and managers. (4.4) Changes in Rent Limits (5.10) Unemployment, Disability, Worker's Compensation, Severance Pay |Events |My View Newsletter You should always consult with your retained professional advisor(s) concerning your particular circumstances. endstream endobj 141 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream HUD may conduct a review of the recipient agency to determine compliance. LIHTC Compliance Guidance A list of links and resources curated for LIHTC property owners and managers Authoritative Sources Internal Revenue Code Section 42 Treasury Regulations 1.42 HUD Handbook 4350.3: Occupancy Requirements of Subsidized Multifamily Housing Programs (November 2013) 12/15Certification of Zero Income(Word) (Mandatory MSHDA Best Practice Form), 01/05Income Certification for 125-150% AMGI(PDF) endstream endobj 143 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Below are MSHDA approved recommended leases and addendums. Review of project owner tenant files for documents required to support information provided in Annual Owner Certifications. (11.4 Special-Needs Set-Asides Powerpoint (PDF) 12 | Owners of affordable housing with this type of funding must comply with applicable federal Regulations, and HPD is legally required to monitor compliance to ensure continued affordability and habitability. \` ,u LIHTC Program Policies (See Current Year 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. 08/22Extension Request(Word), Requirements For Substituting A REAC Or RHS Inspection For A MSHDA Inspection: Exhibit F Bond Process Checklist. The relief has been granted due to unavoidable labor and supply-chain disruptions delaying the construction, rehabilitation, and restoration of properties throughout Presentation (24MB), Explanation of WSHFC's Special-Needs Housing Commitments06/2010, Income (6.1) Owner Annual Certifications s 0 0 18 18 re (9.5) Contact Information endstream endobj 109 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream endstream endobj 159 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>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. s \` ,u f O | (11.4) Additional Low-Income Set-Asides 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.