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Property Compliance News Briefs - August 2017

Novogradac & Company LLP announced July 5 the addition of Stephanie Naquin as multifamily compliance manager. Naquin will be based in the Austin, Texas, office, but will help clients nationally on compliance with affordable rental housing program regulatory requirements, including for properties financed with low-income housing tax credits (LIHTCs) and tax-exempt bonds. Before joining Novogradac, Naquin was the director of multifamily compliance with the Texas Department of Housing and Community Affairs (TDHCA). Early in her 15-year career in affordable housing, Naquin was also a property manager. Her certifications include the National Center for Housing Management Certified Occupancy Specialist (COS) and the National Association of Home Builders Housing Credit Certified Professional (HCCP).

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A new version of the Novogradac Rent & Income Limit Calculator is available. The calculator has been updated to include fiscal year 2017 rent and income limit data. Calculations were adjusted in the Enhanced Rent & Income Limit Calculator application for properties with rural and national non-metro income qualifications. The Novogradac Rent & Income Limit Calculator is available at www.novoco.com.

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The Ohio Housing Finance Agency (OHFA) announced June 20 that recipients of HOME-assisted financing must implement the 2017 HOME rent limits and submit a HOME rent approval form to OHFA by July 30. The HOME rent approval form should be sent directly to the OHFA compliance analyst assigned to the subject property. HOME recipients who fail to submit the rent approval form may be placed on a watch list and OHFA’s Office of Planning, Preservation and Development will be notified. The 2017 HUD published HOME rents were effective June 15. Recipients of developments that have received HOME funds are required to submit an OHFA HOME Rent Approval Form on an annual basis. 

Journal Category:

Property Compliance

Authors:

Novogradac

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