Property Compliance News Briefs - July 2010

Thursday, July 1, 2010

The U.S. Department of Housing and Urban Development (HUD) issued instructions to property owners who wish to request that HUD check their individual buildings for funding eligibility under the Department of Energy’s (DOE’s) Weatherization Assistance Program. Property owners may send an e-mail to HUD at [email protected] with a list of properties that the owner believes should be included on the next published list of eligible buildings. For each property, the owner must provide a certification with the following: the property ID number and address; the number of individual buildings within that property; a list of addresses for each building and the number of units in each; and the apartment or unit addresses for multiple buildings that share the same address. If HUD is able to determine that an individual building within a property is income-eligible, HUD will provide information about that building to DOE for posting on its web site. Additional buildings and projects will be posted as a quarterly addendum to the DOE lists. See the May 18 Federal Register notice for more details.

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HUD released the HOME program’s 2010 income and rent limits, which went into effect June 26. Complete sets of the updated limits are posted by state on HUD’s web site at www.hud.gov/offices/cpd/affordablehousing/programs/home/limits/index.cfm. Contact HUD’s Office of Affordable Housing Programs for more information.

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The Vermont Housing Finance Agency (VHFA) announced that it will begin requiring proof that multifamily property owners or managers have filed annual compliance statements with the Vermont Department of Health regarding essential maintenance practices (EMP). In an effort to reduce exposure to lead, owners and managers must complete EMP in all rental housing built before 1978 and file annual compliance statements with the Vermont Department of Health. VHFA said it will confirm submitted statements during onsite physical inspections and file reviews. More information about how to comply with EMP is available on VHFA’s web site at www.vhfa.org.

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Riverstone Residential Group announced the selection of Patricia Bowen as its executive vice president of compliance services, based in the Denver, Colo. office. She will oversee the tax credit compliance program, HUD’s bond programs and other affordable housing programs. Bowen will also manage Riverstone’s internal audit programs in the company’s quality assurance group. Prior to joining Riverstone, she worked in property management at AIMCO for 14 years, where she managed a team of 30 compliance specialists as the company’s vice president of compliance. Bowen holds a master’s degree in organizational management and a bachelor’s degree in human resources.

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The National Housing Trust Community Development Fund has announced that it is partnering with Enterprise to provide a new lending program for green retrofits of older affordable rental communities. Called green mini loans, the program offers below-market financing to incorporate green designs and techniques into preservation projects, and can be used for predevelopment activities, capital needs assessments and energy audits. Other eligible uses include third-party expenses needed to apply for American Recovery and Reinvestment Act funds and other available programs to retrofit or weatherize affordable multifamily properties. For more information, contact Keiva N. Dennis at (202) 333-8931 ext. 126 or
[email protected].

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The Michigan State Housing Development Authority (MSHDA) implemented two new utility allowance calculation methods on June 15. The methods, called Actual Consumption Method and HUD Utility Model, are available for review on MSHDA’s web site at www.michigan.gov/mshda. Contact MSHDA’s compliance monitoring division at (517) 241-2560 or [email protected] with questions regarding these utility allowance policy changes.

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