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Property Compliance News Briefs - October 2010

The Ohio Housing Finance Agency’s (OHFA’s) office of program compliance has updated the state’s affirmative fair housing marketing plan (AFHMP) form and instructions. Ohio requires developers applying for state or federal housing funds to create an AFHMP that explains how they will target hard-to-reach segments of the population. OHFA will accept plans completed to meet U.S. Department of Housing and Urban Development (HUD) or Rural Development affirmative marketing requirements. In addition, an updated AFHMP must be submitted every five years for existing tax credit developments. Download the revised AFHMP form and instructions from www.ohiohome.org.

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Florida Housing announced that its compliance monitors are now required to report the existence of bed bugs at any property being inspected. The inspection requirements are applicable to all properties reported to have or suspected of having bed bug infestation and are subject to the U.S. Department of Housing and Urban Development’s (HUD’s) uniform physical condition standards. As part of the new protocol, a compliance monitor will meet with a property representative before beginning an inspection to inquire if there have been reports of bed bugs in any unit, and if there have been reports of infestation will not enter the affected units. If an affected unit was previously selected for inspection, the compliance monitor will select an alternate unit; or, if the presence of bed bugs is discovered during an inspection, the compliance monitor will record it, note the location of the unit and select an alternate unit. See HUD’s Inspector Notice No. 2010-10 at www.hud.gov for more details.

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The U.S. Department of Housing and Urban Development (HUD) commissioned a study to determine possible improvements to the operating cost standards for Project Rental Assistance Contracts (PRACs), which are granted to communities serving elderly and disabled persons. Researchers used benchmarks of expenses based on the location and characteristics of HUD-assisted properties serving similar populations. Taking into account the location, development and unit size, type and age of building, type of ownership, neighborhood poverty rate and tenant clientele, “Section 202 and 811 Operating Costs Needs” found that formulating benchmarks for operating cost subsidies in this manner produces accurate benchmarks for Section 202 and 811 PRAC operating costs.

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The National Multi Housing Council (NMHC) will present the results of its 2010 Apartment Cost of Risk Survey (ACORS), a benchmarking survey that measures specific costs and other data relative to insurance coverage purchased by apartment firms, at its Apartment Operations & Technology Conference in November. Data collected from the surveys establishes benchmarks for insurance rates, deductibles, retentions, coverage terms and claims history. NMHC is accepting completed surveys no later than October 7 and will furnish complete data sets to survey participants. More information is available on NMHC’s web site at www.nmhc.org.

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Pinnacle Family of Companies, a multifamily housing property management firm, selected Michelle Betchner as its first vice president of performance. Her responsibilities include advancing brand marketing, maximizing performance and client relations. Betchner previously served as senior vice president of performance with Alliance Residential Company, and before that she was the district manager and director of marketing and training for Lincoln Property Company. Betchner, a nationally known speaker and thought leader in the real estate industry, earned both her bachelor’s and master’s degrees from Arizona State University.

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The District of Columbia Department of Housing and Community Development selected Tax Credit Asset Management (TCAM) to perform asset management services for properties financed by the Section 1602 low-income housing tax credit (LIHTC) exchange program. A wholly-owned subsidiary of R.J. Finlay and Co., TCAM said it is providing asset management services to four other state and local agencies, in addition to banks and corporations.

Journal Category:

Property Compliance

Authors:

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