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Property Compliance News Briefs - December 2016

The Florida Housing Finance Corporation (Florida Housing) announced Oct. 6 that the agency was monitoring Hurricane Matthew and added procedures and tools for those impacted by severe weather and flooding. Florida Housing provided a questionnaire, the Disaster Damage Assessment: Information for Florida Housing Property Owners and Managers. Florida Housing will conduct a general assessment of damage that results from Hurricane Matthew, and the questionnaire is available for owners and/or managers of rental developments that participate in Florida Housing programs. Owners and residents are instructed to provide a general assessment of damage from Hurricane Matthew by selecting the estimated damage level (for the development overall). The categories are limited, moderate, extensive and catastrophic. Additionally, quantity of units damaged, quantity of buildings affected and the number of people displaced by the damage must be reported. The questionnaire is available at Florida Housing. Owners should also review IRS Rev. Proc. 2014-49 for relief from IRS rules. 

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Rhode Island Housing and Mortgage Finance Corporation (Rhode Island Housing) announced Oct. 28 that the agency is seeking a compliance attorney for its active law department. The role involves ensuring Rhode Island Housing’s compliance with applicable federal, state and local laws and regulations; reviewing policies, procedures, disclosures, quality control plans and contracts to ensure compliance with applicable laws and regulations; and monitoring developments in federal, state and local laws and regulations impacting Rhode Island Housing compliance requirements. The job description and a complete list of qualifications is available at Rhode Island Housing.

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On Nov. 2, the Georgia Department of Community Affairs (DCA) released an updated home rent approval form. The consolidated form must be submitted at least annually after the release of the HOME published rent limits. The form is used to determine the maximum allowable rent for each property. The deadline to submit the 2016 annual HOME rent request form is Dec. 31.

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The Missouri Housing Development Commission updated its, “Exhibit T: Request for an Extension,” Sept. 22. Low-income housing tax credit (LIHTC) property owners or their designees must submit this form when it becomes necessary to seek a time extension. The request form must be submitted within 10 calendar days of the date on the inspection close out letter. 

Journal Category:

Property Compliance

Authors:

Novogradac

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