HUD Compliance Topics June 28, 2012 Michael Hollar Senior Economist U.S. Department of Housing and Urban Development

HUD Compliance Topics LIHTC Data Collection  The Data Request  Illustration of Data Problems  Feedback 2.SADDAs 3.Income Limits

2012 LIHTC Data Request 1.Property Data: All properties placed into service in Tenant Data: All tenants in LI units on Dec. 31, Updated Property Data: Significant updates/revisions: include in property submission. Significant updates/revisions: include in property submission. Minor updates/revision: me. Minor updates/revision: me. includes properties no longer monitored. includes properties no longer monitored.

Illustration of Data Problems 1.Address 2.BINs 3.Income and Rent

Illustration of Data Problems 1.Address  Need complete geocodable addresses.  What not to submit:  Street: “13 through 16” “Scattered Sites”, “Various--See Below MNGR.” “2043/2045/2047 East 44th St.” “State Road 2 Km 57.2”  Typical errors:  No street address.  Lack of Street Number.

Illustration of Data Problems 2.BINs  IRS Format: ST  What not to submit: ST ST ST ST ST ST ST ST

Illustration of Data Problems 3.Income and Rent  Income: Income Restriction for Unit (%) Applicable Income Limit Total HH Income  Rent: Rent Restriction for Unit (%) Max Rent for Unit Tenant Paid Rent Gross Rent Rental Assistance

Illustration of Data Problems 3.Income and Rent  Income Restriction for Unit Restriction required by LIHTC set-aside. Restriction required by LIHTC set-aside. 50% or 60% for most units. 50% or 60% for most units. Accepted Values: Integer from “0” to “60”. Accepted Values: Integer from “0” to “60”. Missing = “9”

Illustration of Data Problems 3.Income and Rent  Income Restriction for Unit

Illustration of Data Problems 3.Income and Rent  Applicable Income Limit Maximum income limit for household size. Maximum income limit for household size. FY2010: Ranged from $8,200 to $99,600. FY2010: Ranged from $8,200 to $99,600.

Illustration of Data Problems 3.Income and Rent  Applicable Income Limit

Illustration of Data Problems 3.Income and Rent  Total HH Income:  Errors mostly due to misplaced decimals.

Illustration of Data Problems 3.Income and Rent  Total HH Income:  New validation:  Maximum value: $200,000.  Missing = “9”

Illustration of Data Problems 3.Income and Rent  Unit Rent Restriction Restriction required by LIHTC set-aside. Restriction required by LIHTC set-aside. 50% or 60% for most units. 50% or 60% for most units. Accepted Values: Integer from “0” to “60”. Accepted Values: Integer from “0” to “60”. Missing = “9”

Illustration of Data Problems 3.Income and Rent  Unit Rent Restriction

Illustration of Data Problems 3.Income and Rent  Rent: Max Rent for Unit Tenant Paid Rent Gross Rent Rental Assistance  Errors due to misplaced decimals.  New validation:  Maximum value: $3,000.  Missing = “9”

Illustration of Data Problems 3.Income and Rent  Maximum Allowable Gross Rent for Unit Max in FY10: $205 - $2,490 Max in FY10: $205 - $2,490

Illustration of Data Problems 3.Income and Rent  Tenant Paid Rent Max in FY10: $2,490 Max in FY10: $2,490

Illustration of Data Problems 3.Income and Rent  Gross Rent Max in FY10: $2,490 Max in FY10: $2,490

Illustration of Data Problems 3.Income and Rent  Rental Assistance:  General Maximum of 110% of FMR  Max in FY10: $2,833 * 110% = $3,116

HUD Compliance Topics LIHTC Data Collection  Feedback: Abt AssistanceAbt Assistance User Interface for Direct InputUser Interface for Direct Input 2.SADDAs  HUD will use SADDA concept for 2013 DDAs.  Expected publication in August. 3.Income Limits  Publication date moved to Dec. 1.

Questions?  HUD:Mike Hollar  Abt:Carissa Climaco