ADFA Acceptance of RD Certification and Recertifications Clarification and Instructions on implemented new procedures.

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Presentation transcript:

ADFA Acceptance of RD Certification and Recertifications Clarification and Instructions on implemented new procedures

ADFA, may except building financed by the Rural Housing Service (RHS) under the section 515 program from the annual income recertification as part of its certification and review provisions. Under this exception, owners are not required to perform annual income recertifications specific IRC §42.

ADFA will review the information provided by RHS and determine whether the owner is in compliance with the income limitations and rent restrictions. All certifications and recertifications must include a Student Status Affidavit Form that will be attached to the RD certification for ADFA’s review.

Currently this new adopted policy does not include the HOME units in these projects. HOME units must be monitored as they always have been. In the future, ADFA intends to include the HOME units in this process.

Owners or managers are required to update tenant data online using ADFA’s web-based computer reporting system (WCMS) at every certification, recertification/interim if they are only utilizing RD certifications. If owners choose not to utilize RD certifications only and continue to recertify using the Tax Credit TIC only annual reporting is required for WCMS.