HUD and Tax Credit Compliance Monitoring

 
Ensure that your tax credit units remain compliant throughout the life of your low-income housing obligations. From standard 40/60 8609's to more complex extended use agreements with deep targets and other mixed income and use obligations, the best way to ensure that your tax credit investments are protected is to have a licensed, trained, and experienced professional review all of the documents for the property on a regular basis.
 
As more and more states step up their Tax Credit monitoring requirements, changing from the original "spirit of the law" intenions of the late 80's and early 90's to today's "letter of the law" enforcement, it is the interest of every tax credit property to make sure that every single resident file and property file are properly maintained.

Compliance Monitoring Packages

 

  1. Monthly / Quarterly Monitoring - USHC will setup a tracking mechanism using top of the line internet based software that will track all of the move ins, move outs, transfers, recertifications, and other activity on your property and ensure that all of your activities are within the guidelines set in the regulations for your funding program. Also includes annual independent audit; annual UPCS Inspection, and 24/7 compliance support.
  2. Outsourced Compliance Department - USHC will setup the same tracking mechanism as described above, but using this approach, we will actually perform the recertifications and other certifications for your property.
    • Setup your properties on Bostonpost Technology's Property Manager software for LIHTC & HUD Compliance
    • Interview all of the households in your property at annual recertification
    • Process all certification documents including 3rd party verifications and appropriate state and federal forms
    • Act as your representative at all audits and prepare all responses for you to state and federal agencies after physical and regulatory audits
    • Annual UPCS (REAC) Inspections on 100% of your units by licensed inspectors
    • Training of your staff on LIHTC, HUD, PIH, and Fair Housing Issues

 

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Benefits of Compliance Monitoring

 

  1. Allows owners/managers of small properties to have a "large company's" compliance department depth at a cost that is easily affordable.
  2. Removes the risk and doubt for owners/managers about the constantly changing landscape of rules and regulations for affordable housing programs.
  3. Ease the concerns of investors and syndicators who are unsure of the experience of small owner/managers.

 

931 First New Hampshire Turnkpike
P.O. Box 465

Northwood, NH 03261

Main Office: (603) 223-0003

Toll Free: (877) 228-0003

Fax: (603) 218-6496

Email: info@us-hc.com