Credit|Bond/Tax Credit| 1 g Multifamily Capital Fund Initiative Application Open. HUD Handbook 4350.3: Occupancy Requirements of Subsidized Multifamily Housing Programs (November 2013), Civil Rights and Nondiscrimination Requirements (HUD 4350.3, Chapter 2), Eligibility for Assistance and Occupancy (HUD 4350.3, Chapter 3), Income and Asset Determination (HUD 4350.3, Chapter 5), Income and Assets - Included and Excluded (HUD 4350.3, Chapter 5), Exhibit 5-1: Income Inclusions and Exclusions, Acceptable Forms of Verification (HUD 4350.3, Appendix 3), Security Deposits (HUD 4350.3, Chapter 6), Termination of Tenancy (HUD 4350.3, Chapter 8), Rectifying Improper or Inaccurate Information (HUD 4350.3, Chapter 8), Discriminatory Conduct Under the Fair Housing Act (24 CFR, Part 100), Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition (October 2009), Recommended Practices in Compliance Monitoring, Capital Needs Assessments, Operating Cost Databases, and Accountant Opinion Letters, Gross Rent Floor (Revenue Procedure 94-57), Election for Number of Bedrooms for Gross Rent Limitation (Revenue Procedure 94-9), SSI Payments Excluded From Rent (PLR 9526009), HUD Notice Calculating Section 8 Rents (PIH 2003-32), HUD Notice Calculating Section 8 Rents (PIH 2003-22), Safe Harbor to Comply with Eviction and Rent Increase Restrictions in LIHTC Extended Use Commitments (Revenue Procedure 2005-37), Decrease in Area Median Gross Income (Revenue Ruling 94-57), Combined Income of Occupants Counted (Revenue Ruling 90-89), Income Determination Follows Section 8 of U.S. Housing Act of 1937 (IRS Notice 88-80), Assets Documentation (Revenue Procedure 94-65), Calculating Income Limits (Revenue Ruling 89-24), Safe Harbor for over income tenants during first year of the credit period (Revenue Procedure 2003-82), Novogradac & Company LLP's Rent & Income Limit Calculator, Elderly Population Restriction and Meals (PLR 8945036), Assistance Living Facilities Defined (PLR 9740007), Home Health Care Services Option (PLR 8945036), Home Health Care Services Option (PLR 8944042), Community Service Facility (Revenue Ruling 2003-77), Utility Allowance Requirements (IRS Notice 89-6), Utilities Paid by Tenant of Submetered Rent-Restricted Units (IRS Notice 2009-44), Compliance Monitoring Requirements (IRS Final Regulation TD 8430), Assignment of Building Identification Number (IRS Notice 88-91), Extended Use Agreement for Allocations Prior to 1990 (Revenue Ruling 92-79), Long Term Commitment to Low Income Housing (Revenue Ruling 95-49), Recapture Bond Requirements (Revenue Ruling 90-60), Targeted Population Restriction (PLR 8944042), Manager Unit and Application Fees in Rent (PLR 9330013), Answers to 12 Questions (Revenue Ruling 91-38), Acq/Rehab of a Residential Rental Property (PLR 200044020), Memorandum of Understanding Between IRS, HUD, and DOJ, Answering 12 Questions about LIHTC (Revenue Ruling 2004-82), SBSE Memo For Examiners Assigned Low-Income Housing Credit Cases Regarding Noncompliance Resulting from Conflicting Program Requirements, NCSHA Recommended Practices in Compliance Monitoring, Capital Needs Assessments, Operating Cost Databases, and Accountant Opinion Letters, NCSHA Recommended Practices in Housing Credit Allocation and Underwriting, Relief for Projects in Disaster Areas (Revenue Procedure 2007-54), Earthquake Relief for Compliance Monitoring (IRS Notice 94-94), Issues Arising when Qualified Low-Income Buildings are Damaged By Casualty (CCA 200913012). CDBG Application Handbook (REV March 2020 corrected) CDBG Administration Handbook 2014. . 01/19Notice of Building Casualty Loss or Damage(Word) \` ,u /Tx BMC (PDF) endstream endobj 143 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream File), Tax IRS Form 8609- Low Income Housing Credit Allocation Certification 0 0 18 18 re endstream endobj 135 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream 0.75293 g If the owner is reported as out of compliance, the IRS sends a notification letter to the owner identifying the type of noncompliance reported on Form 8823. Information for Real Estate Professionals 90% percent or more of the units must be restricted for LIHTC occupancy and the market analysis, appraisal and underwriting must conclude that the achievable LIHTC unit rents will be at least 0.75293 g 1 g 253 0 obj <>stream Income Certification (TIC, IC HEC, etc.) This document is intended to be used as a reference tool to help grantees prepare for HUD compliance reviews. 0.75293 g H endstream endobj 123 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream (2.15) Utility Allowance Documentation s Form SS-4 Application for Employer Identification Number (PDF), Financial Solvency and LIHTC History (PDF), LIHTC Ownership Capacity Certification Form, LIHTC Management Capacity Certification Form, Qualified Contract Notification Letter (PDF), Calculation of Qualified Contract Price Worksheet (Blank) (Word), Calculation of Qualified Contract Price Worksheet (Sample) (Word), Post-Year H Recent ReEvision Webinar 12/2015 333 N. 1st St., Suite 305 Jacksonville Beach, FL 32250, HUD Compliance Tax Credits Property Management, My Account Contact Us Certificate Request eHotline About NCHM News Careers ___________ Cancellation Policy Privacy Policy Program Terms & Conditions Nondiscrimination Policy Return Policy Terms of Use, Copyright 2020 NCHM, All Rights Reserved | Web Design and Development by Envy Creative, Certified Occupancy Specialist Advanced (COSA), Enterprise Income Verification Specialist (EIVS), Certified Manager of Senior Housing (CMSH), 1PM-5PM Eastern each day with a live instructor and teaching assistant, One week to take exam; results delivered week after exam window closes, Course Materials Delivered Directly To Participants, Textbooks and shipping included in course fee, Certificate available immediately upon release of grades; inclusion in NCHMs National Registry. Exhibit A-13: Schedule II LIHTC 12 units or more with Section 8. endstream endobj 165 0 obj <>/ProcSet[/PDF/Text]>>/Subtype/Form/Type/XObject>>stream Rev 10/2018 Sections 3.2 & 4.2.B. Rev 12/29/2022, Regulations & Other Authority (PDF)| endstream endobj 108 0 obj <>/Subtype/Form/Type/XObject>>stream (3.8) Marketing and Good Faith Efforts (the "30-Day Rule") 0.75293 g s The Tax Credit Compliance Procedures Manual was designed to give property owners and 1 g 0 0 18 18 re 5 | 0 0 18 18 re \` ,u The credit note should be issued for the excess value of supply charged in the invoice, i.e. (5.10) Foster Child income (5.7) Self-Employed Income Verification 01/23Resident Fees(Excel), 02/11Ownership Entity Information Form(PDF) Records Retention (PDF) Rev 11/2014 The Compliance Period (IRC 42(i)(1)) is the duration of the credit period plus 5 years. The Low-Income Housing Tax Credit (LIHTC) program (also known as Section 42) is the federal government's primary method of funding new affordable rental housing in the USA. They have conducted their own investigation and due diligence in determining calculations of the Qualified Contract Price. EMC 1 g Homeless & Special Housing Needs Programs, Housing Opportunities Promoting Energy Efficiency Program (MI-HOPE), https://dev.michigan.local/som/json?sc_device=json, Performance Based Contract Administration, Go to COVID Emergency Rental Assistance (CERA), Go to Homeless & Special Housing Needs Programs, Go to Michigan's Campaign to End Homelessness, Go to Multi Family Direct Lending Programs, Go to Low Income Housing Tax Credits (LIHTC), Go to Housing Opportunities Promoting Energy Efficiency Program (MI-HOPE), MSHDA 2022 Annual Certification Year End Reporting Memorandum, New MSHDA Inspection Requirements Memorandum, Carbon Monoxide Detectors & IRS Final Regulations for LIHTC Memorandum, Auditor-Inspector Customer Service Survey, Compliance Officer Customer Service Survey, Notice of Building Casualty Loss or Damage, Owner's Certificate and Attachment A Instructions, Owners Certification of Completion of Repairs, Annual Student Eligibility Certification LIHTC & Tax Exempt Bond, Annual HOME Certification of Student Status, Authorization to Release Information for Section 8 Participants, LIHTC/1602/TCAP Owner's Certification of Continued Program Compliance, HOME/NSP Owner's Certification of Continued Program Compliance, HOME Rent and Occupancy Report (for HOME Projects Only), HOME Rent and Occupancy Report (for HOME Projects Only, NSP Rent and Occupancy Report (for NSP Projects Only), Combined Application for Rental Housing Programs, The deadline for submission of the 2022 Owner's Certification for all LIHTC, 1602, TCAP, HOME, NSP and HTF developments is. Audits for compliance with due diligence for certain tax benefits, such as the earned income tax credit (EITC), child tax credit (CTC), including additional child tax credit (ACTC), credit for other dependents (ODC), American opportunity tax credit (AOTC) and/or the head of household (HOH) filing status, as defined by IRS Section IRC 6695(g) are another tier of our Preparer Compliance Program. f H f s SFRF-ARP PRESERVATION NOFA. 42 of the Internal Revenue Code of 1986, the Tax Credit Regulatory Agreement ("TCRA"), the Compliance Monitoring Agreement, the Qualified Allocation Plan ("QAP") and other legal governing documents. H (2.19) Inspections LIHTC Compliance Guidance A list of links and resources curated for LIHTC property owners and managers Authoritative Sources Internal Revenue Code Section 42 Treasury Regulations 1.42 HUD Handbook 4350.3: Occupancy Requirements of Subsidized Multifamily Housing Programs (November 2013) 0.75293 g endstream endobj 154 0 obj <>/Subtype/Form/Type/XObject>>stream 20,000. (11.1) Introduction f Resources Forms of Verification (PDF), Chapter 5, Exhibit 1: Allowance Spreadsheet - Method 6 (Excel), Webinar Rev 02/2009, Sample Utility Allowance Schedule (PDF)Rev 02/2009, Public Housing Authorities Link Rev 02/2009, Forms ~ State; The Act includes Section 42 of the Tax Code, the Low Income Housing Tax Credit Program. They understand that NIFA has made no independent investigation of theDevelopment Owners submissions and cannot attest to their accuracy or completeness. H Explore collections of guided learning opportunities on a variety of topics. Powerpoint (PDF) (1.2) Tax Credit Program Overview endstream endobj 158 0 obj <>/Subtype/Form/Type/XObject>>stream f 0.5 0.5 17 17 re K | s s oV(0u 6U Learn about what HUD grantees are doing across the nation. 0 0 18 18 re IRS Form 8823- Low Income Housing Credit Agencies Report of Noncompliance. (12.5) Definitions, Tax 0 0 18 18 re Calculation of Qualified Contract Price Form and Worksheets Utility Date. Contract Process (PDF) 0.5 0.5 17 17 re Bond Compliance Manual (5.1) Summary aTLR&R$R3GJh@h`bc2:$8P"4Of"5I"SD`FaF\G[ST[pYEQQ;%C1 u`X h 9u- This is the country's most extensive affordable housing program. (11.4) On-Site Visits (PDF) Rev 04/19/2022 to Tax Credit projects underwritten for that program unless adjusted for the New Pilot in separate guidance. You should always consult with your retained professional advisor(s) concerning your particular circumstances. A copy of the most recent 12 months of operating statements for the Development which fairly sets forth the Development's operating expenses, debt service, gross receipts, net cash flow and debt service coverage ratio. (3.7) Farmworker Housing Policies), Sample Exhibit "B" to Regulatory Agreement (PDF) Community Housing Development Organization Certification Application. Michigan LIHTC Compliance Manual Checklist - MSHDA Programs - This form lists all of the sources of income and types of assets held by the applicant. (7.2) Common Reasons for Noncompliance Inspections 9. Event Calendar Data-driven decision-making: CFOs must be able to analyze financial data and trends . Request in-depth assistance with implementing a HUD-funded program. (5.13) On-Going Monetary Gifts 15 Streamlined Monitoring - Property List (PDF), Post-Year 15 MAP| Form SS-4 Application for Employer Identification Number (PDF) 0.75293 g (2.4) Suitable For Occupancy (10.1) Summary Notice 22-19. 0.5 0.5 17 17 re IRS Forms s H Calculation of Qualified Contract Price Worksheet (Sample) (Word), Post-Year 15 Monitoring Procedures (PDF) Rev 03/2017 s State and national links to homeless and special housing needs information. (5.3) Determining Annual Wage Income Chapter 5: (6.8) Annual Recertifications for Mixed Income Properties 0.5 0.5 17 17 re H (11.5) Post-Year 15 Training 1D)Yw )z yTsRiu}aJM~Xav?>hY'$8h5Zveq N (Not Applicable) Activity is not applicable to this . Seattle, Washington 98104 | Phone: 206-464-7139 or 800-767-4663 | s 0.5 0.5 17 17 re H 01/19Notice of Building Casualty Loss or Damage(PDF) H P \ Le$A2* 206-587-5113 | Contact Us 0.5 0.5 17 17 re A thorough narrative description of the Development, including all amenities suitable for familiarizing prospective purchasers with the Development.

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