1. Managing Layered Funding Properties Setting up and using Layered HUD and Tax Credit properties in Management Plus © 2009 Domin-8 Enterprise Solutions LLC. All rights reserved.

2. 2 Session Topics: 1. HUD property setup. 2. Section 42 Tax Credit property setup. 3. Run a compliance certification 4. Report on your compliance property

3. 3 1. Setting up your HUD Layer Navigation Steps Information > Contracts Information to be completed –General Tab –Income Limits Tab –Subsidized Preferences Tab –Units Tab –Unit Contract Rent

4. 1. HUD Layer: General Tab General Tab –FHA number –Maximum # of units on contract –Section 8 type New Construction Section 8 Existing –Cap Interims per HUD Guidelines No change in household composition Income change of less then $2,400

5. 1. HUD Layer: Income Limits Tab Income Limits Tab –During certification these limits are compared to tenant income to determine qualification and rent amount. –Income limits should be available online for your city or county. –Limits must be entered up to 8 tenants, even if you will never have 8 tenants in a household. –Entering last years income limits is a good idea in case you need to enter any retro certifications from past years.

6. 6 1. HUD Layer: Subsidized Preferences Tab Subsidized Preferences Tab General Tab –Project name and address Owner Tab –Property owner information entered here Bank Tab –Informational only. Doesn’t get submitted to HUD. Agent Tab –Company or Agency that manages the property.

7. 7 1. HUD Layer: Subsidized Pref Tab Continued Subsidized Preferences Tab continued: Tracs Tab –Here is where you setup your iMAX submission. Note the mailbox path, especially in network setups. Note the TRACS username/password is NOT the same as your WASS ID. –Tracs unit format Some contract administrators require units come in a certain format. Here you can set that format and see a example of how the format will display units in Tracs files.

8. 1. HUD Layer: Subsidized Pref Tab Continued Subsidized Preferences Tab continued: Notices Tab –Listed here are the default letters ManagementPLUS uses for recertification notices. –If you have custom letters these paths should point to your letters and not the default ones. –Customizing the default letters or renaming customer letters to the default letter names can save the time of changing the path.

9. 9 1. HUD Layer: Unit Tab Units Tab Here you add the units that will be part of this contract. –Clt or Shift keys to add more then one unit at a time You will only be able to add units up to the “Maximum # of units” entered on the Defaults tab. You may need to go back and edit that number if it will not allow you to add all of your units to the contract.

10. 1. HUD Layer: Unit Contract Rent Unit Contract Rents Units need Contract Rents and Utility Allowances Certifications cannot work without contract rents Setup options –Setup unit codes (Setup > Codes > Unit Codes) –Manual entry (Information > Units) Your HUD layer setup is now complete!

11. 11 2. Section 42 Layer Agency: Add Agency to Agency List –Setup > Codes > Agency –Enter Agency information –Enter Agency contact information Funding Requirements: Navigation Steps Setup > Codes > Agency –Funding Requirement types: Income Age Rent Special

12. 12 2. Section 42 Layer: Funding Source Funding Source Information > Funding Source –Add Funding Source. Information listed on LURA. Funding source name Funding source type

13. 2. Section 42 Layer: Funding Source General Tab –Choose Agency –Enter County/MSA –Bin Number –Bin Type New Construction Acquisition/Rehab –Comparable Unit –Minimum Lease Term –Restrictions Minimum Set asides Federal Deep Rent Skewed Pre 1990 Rule Full Time Student Rule –Dates and Basis are informational only –Applicable Fraction 100% Tax Credit Site: target not needed

14. 14 2. Section 42 Layer: Funding Source Continued Income Limits Tab –Enter 50% AMI Income Limit –Copying from other sources –System will auto calculate the rest of the income percentages Verify Amounts Match Agency’s published limits Notices Tab –Just like HUD Contracts, ManagementPLUS uses default letters for Tax Credit Recertification –If you created your own letters make sure the path points to your letter Applicable Faction History –ManagementPLUS will calculate applicable fraction monthly during month-end –Fractions can also be manually entered

15. 2. Section 42 Layer Funding Requirements Tab –This is where additional non-program restrictions are added –Choose Agency that oversees this requirement –Is the requirement mandatory? –% of households that must follow the requirement –Choose requirements from dropdown menu Taken from Funding Requirements screen –Repeat until all additional requirements are entered Units Tab –Add units to the contract Classification Utility Allowance Gross Rent Floor Section 42 property is now setup 15

16. 16 3. Certifications Certifications –Tenants need a certification on file to become a subsidized tenant Move-in cert for a new tenant Initial cert for a current tenant that now receives subsidy or will now be included on a Section 42 funding source –Qualification and Rent Screen Determines tenant rent and household status Based on setup

17. 4. Compliance Reporting Helpful Reports –50059 History Report w/ Move In Income Levels –Compliance Report –Follow-up Notices –Compliance Summary Report –Tenant Listing by contract –Household Statistics Report –Comprehensive Rent Roll 17

18. 18 4. Compliance Reporting Compliance Snapshot –This puts compliance information and reports at the tip of your fingers. Helpful snapshot info – Upcoming recertification's – Pending Tracs files – Last HAP run – Compliance Alerts –Information about your Tax credit funding requirements

19. 19 Questions?