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Property Compliance News Briefs - March 2014

The National Affordable Housing Management Association (NAHMA) announced Jan. 13 the winners of its annual Industry and NAHMA awards. The awards honor individuals and organizations dedicated to providing affordable housing. The Industry Award was given posthumously to Carl Coan Jr., founder of Coan & Lyons. The President’s Award was given to David Smith, founder and chairman of Recap Real Estate Advisors and founder of the Affordable Housing Institute. NAHMA also awarded the NAHMA of the Year Awards, Membership Recruitment Award, Innovation Award and Communities of Quality (COQ) Awards. NAHMA’s 2013 National COQ winners are chosen based on how they manage the physical, financial and social conditions of their affordable housing properties. The winners were Wollaston Manor in Quincy, Mass.; Emerald Springs in Detroit, Mich.; Pynchon Edgewater Apartments in Springfield, Mass.; The Warwick in Newport News, Va. and Hillcrest Commons in Philipsburg, Pa. The awards will be presented at NAHMA’s annual winter meeting March 9 to 11 in Washington, D.C.

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The Wisconsin Housing and Economic Development Authority (WHEDA) announced that the Social Security Administration (SSA) is no longer issuing Social Security number printouts, as of the beginning of February. WHEDA also announced that SSA will stop providing field offices with benefit verification letters later in 2014. This verification letter is available online through a mySocial Security account or by mail via a toll-free telephone number. The SSA stated that in order to leverage technology investments and meet the increasing demands for service, changes were made to how some services are provided. SSA said it will stop providing printouts because they lack security features and are easily misused or counterfeited. Individuals can register for a mySocial Security account at www.socialsecurity.gov/myaccount.

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The Kentucky Housing Corporation (KHC) announced in late January that the deadline for annual performance reporting is March 15. The report must be submitted electronically. Owners and managers of KHC-funded affordable rental housing that is within its compliance period must submit this report. This includes developments funded with low-income housing tax credits, risk-sharing, HOME investment partnerships, small multifamily affordable loan programs and the affordable housing trust fund. Instructions on submission can be found at www.kyhousing.org.

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The Ohio Housing Finance Agency (OHFA) announced that it plans to have certain documents submitted though its online portal DevCo Online. Documents include the LIHTC application, annual certification, tenant certifications, financial reporting and review reports. DevCo is a database that will store lifecycle information on a development and will be available to developers, owners and managers, and OHFA. This system replaces the previous ExcelTM forms. At press time, the agency expected to provide login information in February.

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The Texas Department of Housing and Community Affairs (TDHCA) compliance division hosted a webinar to address changes made to the 2013 Annual Owner’s Compliance Report (AOCR). The report is due April 30. The webinar is available at www.tdhca.state.tx.us. Also available are training slides, a tip sheet, a frequently asked questions document and a document that addresses additional submission requirements for Part D of the AOCR.

Journal Category:

Property Compliance

Authors:

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