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Property Compliance News Briefs – January 2018

The Ohio Housing Finance Agency (OHFA) released several updates to its online awards management system Nov. 3, 2017. The new release impacts tenant income certifications (TICs), compliance checks and more. Labels in the income and rent sections (parts five and six) of TICs were adjusted to better describe the information that is required. Demographics information in section (part eight) of TIC should still be reported when disclosed, but will no longer be included on the TIC. Changes made to compliance checks include better tracking of the compliance start and end dates for properties. These changes improve the accuracy of information in the online system. 

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New Hampshire Housing (NHH) issued a memo Nov. 29, 2017, to owners and management agents of property under the HOME program, reminding them to use the HOME compliance monitoring report for the Feb. 1, 2018, submission for the 2017 year. In addition, NHH stated required information for the HOME program. The HOME final rule requires NHH to verify that deficiencies are corrected, and health and safety deficiencies must still be corrected within 24 hours of the citation.

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In response to the U.S. Department of Housing and Urban Development’s (HUD’s) new Violence Against Women Act (VAWA) Resources for Multifamily Assisted Housing webpage, OHFA issued Dec. 1, 2017, a memo regarding program compliance. OHFA reminded properties with funding from low-income housing tax credits (LIHTCs), HOME and National Housing Trust Funds that they must comply with the VAWA final rule that took effect Dec. 16, 2016. All owners were to have a prescribed VAWA emergency transfer plan in effect by June 14, 2017. In addition, all existing residents were to be notified of their VAWA occupancy rights at the time of their annual recertification or no later than Dec. 15, 2017. Beginning with the 2017 annual owner certification cycle, OHFA will require owners certify compliance with VAWA requirements. The VAWA certification will be a separate form and not part of the annual owner certification.

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The California Tax Credit Allocation Committee (CTCAC) issued Dec. 4, 2017, final proposed regulation changes and responses to comments. CTCAC accepted written comments on these initial proposed regulation changes through Oct. 30, 2017. CTCAC staff considered all comments received and finalized the recommendations to the committee for consideration and adoption. At press time, CTCAC was scheduled to consider the final proposed regulation changes at the Dec. 13, 2017, meeting. Both the changes and the comments are available at www.taxcredithousing.com.

Journal Category:

Property Compliance

Authors:

Novogradac

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