Property Compliance News Briefs - February 2021
The California Debt Limit Allocation Committee (CDLAC) released a notice Dec. 24, 2020, to notify property owners, management companies and issuers of tax-exempt bonds for low-income housing and other related parties that annual compliance reporting for the 2020 reporting period was temporarily suspended. All adjustments to the 2020 reporting period expired Dec. 31, 2020; therefore, CDLAC compliance reporting will start again for the
2021 reporting year March 1, 2022.
The Wisconsin Housing & Economic Development Authority (WHEDA) introduced Jan. 5 Procorem WorkCenters for all tax credit and WHEDA finance properties. Procorem is an online portal that will facilitate community and required document submissions. Each property will have its own Procorem WorkCenter.