NNEHIF Compliance Reviews
Initial Review: Spectrum conducts a 100% file review of all initial tax credit tenants. When the property has reached 100% lease-up, we will conduct a full file review and inspect the site, including 20% of all tax credit units.
Annual Review: Each year NNEHIF will conduct a review of files and conduct a physical inspection of the property, including a 20% review of the units. All new move-in files will be reviewed, as well as recertification files to ensure ongoing compliance with the LIHTC program.
Guidelines for Submitting Files for Review. The physical review will be done using UPCS standards, which looks at five areas of the property: the site, the building exteriors, the building systems, the common areas and the units.
Reviews are conducted by either NNEHIF staff or Spectrum Enterprises, a nationally known compliance expert that conducts monitoring activities for state agencies, as well as private companies.
HOME Guidelines: Check out the HOME Compliance Guides for Property Managers and Regulators.
IRS Form 8823 is the Low Income Housing Credit Agencies Report of Noncompliance or Building Disposition. The form is issued by the State Housing Authorities when a property has not remained in compliance with IRS regulations. All General Partners and Property Managers should be aware of the areas of noncompliance; the 8823 Guide was revised in April 2011.
Uniform Physical Condition Standards
When performing a physical inspection, state agencies use UPCS as the standard for evaluating that properties are providing housing that is decent, safe, sanitary and in good condition. UPCS is used by HUD to come up with their REAC scores and has now been adopted for use in tax credit properties. UPCS looks at five areas: the site, the building exteriors, the building systems, the common areas and the individual units.
NNEHIF Watch List Criteria
NNEHIF utilizes Affordable Housing Investors Council (AHIC) criteria to update our quarterly Watch List.
(Please note: In order to submit the Quarterly Questionnaires and Occupancy Status Report electronically, Adobe Reader must be up-to-date. Click on the icon below to update your version.)