Spectrum Enterprises & CHFA. Welcome to the Compliance Meeting April 26, 2005. SPECTRUM Compliance Monitoring. Our Compliance Reports to CHFA are based on the review of:
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Please be sure that CHFA & Spectrum have accurate and complete information for contacting the owner/agent of each property with LIHTC funding. Update this information in the Unit History Report at least annually. Contact CHFA & Spectrum immediately if there is any change.
Owners will receive written instructions along with applicable deadlines for completing this report.
The software is posted on our website for download. www.spectrumlihtc.com
The electronic Unit History Report tracks development data along with unit history statistics for all units and buildings.
This report is also used to review your initial qualified basis.
This program can be very confusing for people who are unfamiliar with its requirements.
CHFA now requires continual industry-recognized training & certification of all staff personnel involved in the Tenant Certification process. There are a number of skilled and qualified instructors who make this training available in all areas of the US on a regular basis.
We also strongly suggest that all tenant files are approved prior to move in. This could be performed by a third party LIHTC specialist or by another manager with LIHTC experience within the same company.
Reports of noncompliance most often stem from a lack of training, lack of sufficient documentation, and confusion with the rules of other programs in place at the same property.
Please feel comfortable contacting our monitoring staff with any questions about compliance requirements.
If you are working on a file and are unsure about a circumstance which could be a compliance issue – please remember to ask someone (us!) prior to occupying the unit. Some noncompliance is not correctable; some noncompliance is not easily correctable; and some noncompliance can be very costly; but all noncompliance is avoidable!
It is generally a good practice to obtain as much documentation as possible. We do not encourage owner/agents to simply try to meet minimum requirements.
For example, we would suggest recent tax returns, pay stubs, and even bank account statements (showing all deposits) be obtained to support the 3rd party verification of income. All income data should be consistent. If it is not – you will need to investigate further.
One caveat to this would be to maintain a sense of structure, consistency, and organization in your files.
Physical Inspections – All buildings (exterior & interior), grounds, common areas, and 20% of LIHTC units will be inspected.
HUD Uniform Physical Condition Standards as well as State Building Code laws apply.
Fair Housing and ADA construction requirements will apply as well.
An individual familiar to the tenants must accompany our inspector while we inspect common areas and units.
If your property is located in a dangerous area, please identify this to our staff when we contact you to schedule the inspection. For the safety of all involved, arrangements should be made to meet our inspector at a safe location.
Inspection certificates for boilers, elevators, fire extinguishers, etc., must be available for review.
Physical Inspections – Two types of noncompliance can result from our physical inspection:
Major Violations of UPCS or local inspection standards. This would include structural and roof detriments, blocked egresses, expired elevator or boiler inspection certificates, non-functional or missing smoke detectors, pest infestation, serious electrical, heating or plumbing inadequacies, common area safety lighting problems.
There is a 24-hour window to correct any major physical inspection items
Major physical inspection findings in common areas can put all LIHTC units in the building into noncompliance.
In some cases, isolated non-pattern physical issues that are corrected during the inspection may not always be reported as noncompliance.
Minor Violations of UPCS or local inspection standards. Minor violations are those that require correction but do not impair essential services an safeguards for tenants.
There is a 30-day window from the date of the initial report to repair these.