2007 IRS 8823 Guide

How it Impacts Monitoring

LIHTC Compliance Manual

Fifth Edition

Post-15 Year Monitoring Plan

Welcome to Oregon Housing &

Community Services

Monitoring ImpactsMonitoring Impacts

Allows for inspections prior to issuance of the Allows for inspections prior to issuance of the 8609(s)8609(s)

Shortens the time frame for the first inspectionShortens the time frame for the first inspection

Changes how vacant units are counted for Changes how vacant units are counted for inspectioninspection

All levels of deficiencies under UPCS standards All levels of deficiencies under UPCS standards are are reportablereportable

Notification of Exigent and Non-Life threatening Notification of Exigent and Non-Life threatening Health & Safety issuesHealth & Safety issues

Allows for more asset management from the Allows for more asset management from the statestate

Monitoring ImpactsMonitoring Impacts

TIC effective dates vs. signature datesTIC effective dates vs. signature dates

Transfers from building to buildingTransfers from building to building

Certifications needed for ac/rehab dealsCertifications needed for ac/rehab deals

Non-compliance found prior to the notification of Non-compliance found prior to the notification of state state inspectioninspection

Imperfect documentationImperfect documentation

Recent Compliance Recent Compliance Updates & RequirementsUpdates & Requirements

ClarificationsClarifications On-Site Administrative NotebookOn-Site Administrative Notebook 7 Required Forms7 Required Forms1)1) Owner’s Certification of Compliance (F.1)Owner’s Certification of Compliance (F.1)

2)2) Tenant Income Certification (TIC) (F.2)Tenant Income Certification (TIC) (F.2)

3)3) Employment Verification (F.3)Employment Verification (F.3)

4)4) Verification of Student Status/Educational Assistance Verification of Student Status/Educational Assistance (F.4)(F.4)

5)5) Unemployment Affidavit (F.5)Unemployment Affidavit (F.5)

6)6) Under $5,000 Asset Certification (F.6)Under $5,000 Asset Certification (F.6)

7)7) Applicant/Tenant Questionnaire (F.7)Applicant/Tenant Questionnaire (F.7)

More Changes and UpdatesMore Changes and Updates

Changes to the TICChanges to the TIC

Changes to the Annual Certification Changes to the Annual Certification of of Compliance (CCPC)Compliance (CCPC)

The new OHCS manualThe new OHCS manual

www.ohcs.oregon.govwww.ohcs.oregon.gov

Post-15 Year MonitoringPost-15 Year Monitoring

What “Post-15 Year” meansWhat “Post-15 Year” means

Requirements of the PlanRequirements of the Plan

You Relax…You Relax…

We Relax…We Relax…

ConclusionConclusion

Contact your OHCS Compliance Officer if you Contact your OHCS Compliance Officer if you have questionshave questions