THDAs Top 10 Compliance Issues PRESENTED BY MULTIFAMILY PROGRAMS - PowerPoint PPT Presentation

THDA’s Top 10 Compliance Issues PRESENTED BY MULTIFAMILY PROGRAMS DIVISION STAFF 2018 TAAH Conference

Top 10 Lack of Knowledge of Development Requirements Compliance Confusing the Housing Credit Program with Rules with other Program Rules Issues Incorrect Income and Rent Limits File Organization Poor Documentation Weak or Missing Policy and Procedures Lack of Training Lack of Quality Assurance Online Reporting Physical Deficiencies 2018 TAAH Conference

Applicable QAP Point Items from Initial Application Extended Use Place in Service Dates Minimum Set Aside First Year Credits Claimed Gross Rent Floor Property Profile Applicable Income Limits 2018 TAAH Conference

MTSP Income Limits - Only Applicable to LIHTC Properties - 45 Days Implementation - HERA Special - National Nonmetro Income Limit * Not applicable to bond deals Information Needed to Determine Income/Rent Limits - Gross Rent Floor Election - Federal and State Set-Asides - Placed in Service Date(s) - Multiple Building Project 2018 TAAH Conference

Systematic Filing, including move-out files Application, Verification, and Certification in each file File Organization Consistent structure throughout each file Implementation of THDA’s Best Practice Forms 2018 TAAH Conference

Exercising prudence and establishing strong internal controls 2018 TAAH Conference

OAC Resident Data 2018 TAAH Conference

Units Not Rent Ready Exigent Health & Safety Issues Deferred Maintenance Unreported Casualty Losses Physical Inspections 2018 TAAH Conference

Division Updates Portfolio Assignments Revised Forms (2018) New Online Reporting System Income Averaging 2018 TAAH Conference

Income 1 unit 1 unit @ 20% @ 20% 2 units 4 units @ 80% @ 70% 60% Average 60% Average 2 units 2 units @ 30% @ 30% Averaging 3 units 6 units @ 80% @ 70% 60% Average 60% Average 2018 TAAH Conference

2018 TAAH Conference

Donna Duarte, Director Multifamily Programs Division Andrew Bryant Ed Yandel Chuck O’Donnell Felita Hamilton Jawon Joe Bethel Lauderdale Rebecca Scott Leontyne Washington Terry Montgomery Marquel Allocation Compliance Mitchell Assistance Terry Malone Mark Cantu Stan Pack Robert Lucas Help Chris Marlin Shannen Cross Asset Management and Construction Support Team 2018 TAAH Conference