The IRS requires that Tax Credit monitoring agencies use the UPCS Inspection Protocol to monitor the physical standards of LIHTC and HOME properties. Using HUD’s inspection protocol for tax credit properties is more than just doing a REAC Inspection. There are subtle differences between doing a REAC Inspection and doing a UPCS Compliance inspection. In this one-day online course, we’ll cover what Tax Credit professionals need to know to perform effective compliance inspections.
As part of REAC Inspections, HUD dictates rules of behavior and conduct for their inspectors. Many of those rules are about handling issues with the REAC scoring process, but with LIHTC compliance inspections, scoring is not a consideration. The IRS provides instructions in the 8823 Audit Guide which states that LIHTC agencies are to use the UPCS Protocol, but do not have to apply the HUD operational rules.
Scott Precourt has developed an online training workshop that takes you through the protocol and shows attendees how to understand the requirements and perform effective inspections.
Scott will be joined by Amanda Lee Gross to review the inspection requirements and how they fit with Tax Credit and HOME properties.
This is what we cover during this vital online workshop:
Part 1: Understanding UPCS Inspections for LIHTC Properties
Part 2: Site and Exterior Inspections
Part 3: Common Area and Systems
Part 4: Unit Inspections