Property Compliance News Briefs - February 2012

Wednesday, February 1, 2012

The Kentucky Housing Corporation (KHC) announced changes that affect owners or managers that participate in affordable rental housing programs requiring annual performance reporting (APR) packets to be submitted to KHC's compliance department. The owner's annual certification of compliance is now required to be submitted as an e-mail attachment to [email protected]kyhousing.org. In addition, tenant data and annual operating expense information should be submitted through KHC's Tenant Data Collection System (TDCS). The deadline for submitting the APR packets, including annual monitoring fees, owner's annual certification of compliance, tenant data entry and annual operating expense information for the previous calendar year, is March 15. Instructions for completing the requirements are available at www.kyhousing.org.

***

The Ohio Housing Finance Agency (OHFA) announced that it has posted the 2011 annual owner reports, certifications and operating survey forms for multifamily programs on its web site. Owners and managers should continue to use the 2011 compliance tool. For the 2011 compliance reporting period, owners of low-income housing tax credit (LIHTC) properties are asked to upload the compliance tool through OHFA's web site. The agency said it included instructions for the upload in the owner report instructions. More information is available at www.ohiohome.org.

***

The Wisconsin Housing and Economic Development Authority (WHEDA) updated its Rental Compliance Reporting System (RCRS) for collection of additional household information required under the Housing and Economic Recovery Act. As a result of these changes, property owners or managers must use version 2.0 of the State Housing Finance Agency LIHTC Data Transfer Standard – a data transfer standard for compliance reporting – to upload unit status report files to RCRS. The files are also required to meet WHEDA's compliance rules. Household members have the right to decline to provide information on race, ethnicity or disability status. More information and revised forms including unit status reports, unit status report instructions, and correction of amendment to prior period reports are available at www.wheda.com.

***

The National Affordable Housing Management Association (NAHMA) announced that it is accepting submissions for the 2012 Affordable Housing Vanguard Award. The Vanguard Award recognizes new, quality multifamily affordable housing development and highlights the results of private-public partnerships required to develop affordable housing. Affordable housing communities that are less than three years old may apply and will be considered under four award categories – New Construction, Major Rehabilitation of an Existing Rental Housing Community, Major Rehabilitation of a Non-Housing Structure into Affordable Rental Housing, and Major Rehabilitation of a Historic Structure into Affordable Rental Housing. Winners will be recognized at an awards ceremony in July at NAHMA's Summer Meeting in Boston, Mass. Applications should be submitted to NAHMA by April 13. More information on the awards is available at www.nahma.org.

***

Stuart Kritzer has been named asset manager of the Hawaii Housing Finance and Development Corporation (HHFDC). He has more than 15 years of underwriting and financial analysis experience. Kritzer formerly served as a reviewer for the U.S. Treasury's Community Development Financial Institutions Fund, founded the economic development finance consulting firm Kricon Development Group, and was the senior risk assessment officer and asset manager at the Arizona Department of Housing. Kritzer holds a master's degree in business administration from California State University Long Beach and a bachelor's degree from San Diego State University.

***

The NAHMA Educational Foundation is offering scholarships to member affiliated community residents who are pursuing higher education. High school seniors, graduates and adults with a high school diploma or equivalent are invited to apply. Applications are available at www.nahma.org.

Journal Category: