The Compliance team monitors properties financed with housing tax credits, HOME funds, and other funding sources. The Compliance team ensures the long-term preservation of affordable housing and that federal law and LHC requirements are followed. To achieve these objectives, the Compliance team employs a training, education, and technical assistance approach with its owner and property manager partners.
Federal regulations require all properties to be inspected, and the frequency of inspections is dictated by the project's source(s) of funding. In addition to site inspections, the monitoring team also reviews tenant files to ensure program requirements are met; and the desk monitoring team receives and reviews annual compliance certifications and submissions, due every year on February 15th.
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The primary objectives of the Compliance Monitoring Department are to preserve existing affordable housing and increase property performance while minimizing the corporation’s risk and ensuring the ongoing long-term viability of LHC funded projects.
The Construction Monitoring team supervises the progress of new construction and rehabilitation projects across all Corporation programs, ensuring that federal regulations are followed and that all construction agreements between the LHC and the developer are met.
The Desk Monitoring Team of the Asset Management Department is responsible for monitoring compliance with reporting requirements, regulatory compliance, payment obligations and ensuring the ongoing long-term viability of LHC funded projects.
The LHC reviews developments and potential impacts to determine whether the projects meet federal, state, and local environmental standards.
The purpose of Section 3 is to ensure that economic opportunities shall be directed to low- and very low-income persons, particularly those who are recipients of government assistance for housing or residents of the community in which the Federal assistance is spent.
Access the HDS Web Compliance Management System to enter your tenant information directly into the compliance reporting system.
