1. Managing Property with Multiple Funding Sources
Mountain Plains/ Colorado NAHRO
May 16, 2018

2. Agenda Introductions Alphabet Soup What are the regs? Tips
What can we do to help YOU?
Send sign-up around the class.

3. Introductions CHFA CDOH Participants Name Title Organization
Experience with compliance
What you hope to learn today

4. Alphabet Soup What are they? LIHTC HUD HOME CDBG CDOH HTF
All the others

5. Rule Number 1…
Always go with the most restrictive compliance requirement

6. What Are The Regs? Which program is more RESTRICTIVE?
CDOH – Beneficiary and Rent Use Covenant (becoming Regulatory Agreement)
LIHTC – Land Use Restriction Agreement (LURA)
Policies and Procedures
Know the rules of each program
Determine if there are conflicts
Know which units are affected
Tracking mechanisms – Have in place for compliance
Attend training

7. Income and Rent Limits
Residents must income qualify at or below the program Income Limits.
CHFA Income Tables
DOH Income Levels
HERA limits do not apply to CDOH units
Residents must pay rents at or below program rent limits.
CHFA Rent Tables
DOH Rent Levels
HCV and other voucher programs have payment standards rather than rent limits.
DOH Payment Standards (Set every October)

8. Income and Rent Limits
Funding Source
Rent Table
Income Table
LIHTC
CHFA
CDBG (HUD)
CDOH HOME
HOME (HUD)
NHTF (HUD)
HTF
CDBG-DR (HUD)
NSP (HUD)
NSP
HSP (State)
HDG (State)
HDLF (State)
CHIF (State)
This CDOH link is for the HOME program only and it is outdated, this is the link for HCV income and payment standards which the majority of CDOH housing programs use. - KD
CHFA – (multifamily loan and low income housing tax credits rent and income limits by year)
CDOH -
(scroll down to Income and Rent Limits)

9. Utility Allowance Schedules
LIHTC, HUD, CDOH funded before
Local PHA schedule
HUD Utility Schedule Model
Local Utility Company – actual project specific allowances
Energy Consumption Model – Certified Engineer
HOME units funded on or after
HUD Utility Schedule Model, or
The local PHA schedule is no longer allowed for HOME
HUD will issue further guidance on other models

10. Max Rents for Units with Vouchers
LIHTC UNITS
The owner MAY NOT charge over the max rent if the resident has a Housing Choice Voucher
Lease must include language stating that, in the event of termination of HCV, the owner will not charge a gross rent amount in excess of tax credit max rent limit.
CDOH UNITS:
Housing Choice Voucher – Voucher holder is restricted. Landlord rents are not prescribed, rather voucher holder may agree to a lease for a unit where rent and utilities exceed the payment standard (there is no “max rent” in this program), but the voucher holder is not allowed to pay more than 40% of their monthly income towards their portion of rent.
Project Based Voucher – May charge over max rent up to limit set by voucher program.
HCV – That is not true. Landlords can charge whatever they want, the voucher holder is restricted. The voucher holder may agree to a lease for a unit where rent and utilies exceed the payment standard (there is no “max rent” in this program), but the voucher holder is not allowed to pay more than 40% of their monthly income towards their portion of rent.

11. Initial Certifications
All programs require all households to meet certain restrictions and income qualify to qualify for the program
All programs require that income is calculated based on HUD rules (HCV guidebook Chapter 5 & 24 CFR Part 5, Subparts E and F and DOH Administrative Plan)
The differences
Assets over $5,000
Full-time student rule - HOME now follows HCV requirements
Tenant Income Certifications
Lease terms

12. Recertifications
Recertifications are required for both programs, however, there are differences:
100% LIHTC properties must complete annual certifications; the first annual must be 3rd-party verified; thereafter self-certifications (Does not apply to mixed income)
HOME units – Minimum 6th year requirement based on the start date of the affordability period (if using self-certifications)
LIHTC units – apply the 140% rule for over-income households at recertification
CDOH units – re-designate another unit if the household is over income

13. Property Inspection Standards
Units must be suitable for occupancy
To determine this the State HFA must:
Use local health, safety and building codes OR
Use the Uniform Physical Condition Standards (UPCS) established by HUD in 24 CFR 5.706
HCV uses Federal HQS standards
NOTE ~ UPCS does not supersede the local health, safety and building codes so owners must comply with both

14. Cannot Discriminate
No program can deny a resident solely because they have a Housing Choice Voucher
LIHTC properties with HOME funds are required to follow the Fair Housing requirements and laws including Section 504 of the Rehabilitation Act of 1973

15. REMEMBER…
Always go with the most restrictive compliance requirement

16. QUESTIONS?
What do you still need to know?

17. Contact Us www.chfainfo.com www.colorado.gov/dola Davina Ray
Program Compliance Officer II
CHFA
1981 Blake Street
Denver, CO 80202
direct
Kim Snetzinger
Lead Asset Manager
Colorado Division of Housing
1313 Sherman Street, Room 500
Denver, CO
Kimberley Dickey
Housing Choice Voucher Contract Manager
Colorado Division of Housing
1313 Sherman Street, Room 320
Denver, CO

18. Thank you!