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Property Compliance News Briefs – August 2018

The Ohio Housing Finance Agency (OHFA) issued a reminder memo June 14 announcing the dates of its 2018 compliance training. The compliance training is required for owners trying to obtain their Form 8609s. There is also a requirement that all owners have at least one person with decision-making authority over resident files and program compliance activities attend this training every two years. This training provides information about the Low-Income Housing Tax Credit (LIHTC) program and reviews OHFA-specific rules. For a complete list of upcoming training dates, go to www.ohiohome.org.

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The Mississippi Home Corporation released June 14 program bulletin 18-1406 on the 2018 development financial analysis report (DFAR) for the state. The DFAR is due on or before Aug. 31. The report details a development’s financial data, including income, expenses, assets and liabilities, and more. A DFAR is required of owners of all active LIHTC developments. The notice is available at www.mshomecorp.com.

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The California Tax Credit Allocation Committee (CTCAC) released tutorial videos July 3 to assist LIHTC development owners in their preparation of their placed-in-service (PIS) documentation. Video topics include final cost certification, PIS certification templates, regulatory agreements and the PIS E-application. The four videos were prepared in CTCAC’s continued effort to expedite the processing of PIS packages and Form 8609 request submissions. 

Journal Category:

Property Compliance

Authors:

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