Tax Credit and HOME Compliance

HPD funds certain affordable housing with HOME dollars and/or Low Income Tax Credits (LIHTC). Owners of affordable housing with this type of funding must comply with applicable federal Regulations, and HPD is legally required to monitor compliance to ensure continued affordability and habitability. Compliance monitoring is basically comprised of three processes:

  1. Review of Annual Owner Certifications submitted by March 1st, to ensure income-qualified tenants are paying rents which are below the mandated limits.
  2. Review of project owner tenant files for documents required to support information provided in Annual Owner Certifications.
  3. Physical inspection of properties to ensure they meet mandated standards.

Rent & Income Limits

Annual Owner Certifications

 

 

Tenant Certificate of Income:

*A pilot project for the electronic submission of rent rolls is planned to be in place by early 2015.

Physical Inspection Failures

Certification of Repairs:

 

 

HPD Guidance

Federal Government Guidance