February DevCo Release Update 

 

On February 5, OHFA implemented new changes to income and rent verification on events in DevCo online. These changes will ensure that income and rent checks are working properly on all Housing Tax Credit (HTC) properties. The changes also improved how limits are selected for units with HOME funds, properties with project-based assistance and resyndicated properties.

  • Events with Income Checks:
    • On All Properties: Move-Ins
    • HTC with Market-Rate Units: Recertification/Recertify, Composition Updates and Transfer-Ins.
  • Events with Rent Checks:
    • On All Properties: Move-Ins, Rent Updates, Recertify, Composition Updates and Transfer-Ins.

DevCo was experiencing technical difficulties with the updates on Part V of Tenant Income Certifications (TICs), but these issues have been resolved. Changes in the TICs were not fully implemented until February 16. In this intervening period from February 5 to February 16, some TICs were displayed with -999 number in income or rent limit-related fields. The issue primarily occurred for recertification events on properties without market-rate units, although a few other properties were impacted as well.

 

Moving forward from this release, TICs will have the following changes based on funding and project characteristics.

 

HTC Properties That Have No Market Rate Units

  • These properties do not require income verifications due to the Housing and Economic Recovery Act of 2008 on recertification, composition update and transfer-in events. Therefore, the "HH Meets Income Restriction at" and "Maximum Income Limit for Household" fields are marked "not applicable" on these TICs in Part V. Additionally, Part V will display this message, "Income Verification not Required: no market rate units on HTC award."
  • The following message was posted in DevCo on Property Listings Message Board:

HTC properties that have no market-rate units listed on the project do not require income verifications on recertification, composition update and transfer-in events and will not be implemented through DevCo Online.

 

New Properties without 8609s or Placed-In Service Dates

  • Income limit and rent limit-related fields will be blank. This is due to the placed-in service dates or other award information not being entered into DevCo correctly. If you experience this issue, please contact the Project Administration Analyst or the DevCo Help Desk for assistance. Once the needed information is entered by OHFA staff, the limits will display correctly.

Properties with HOME or Ohio Housing Trust Fund Only

  • Income limit and rent limit related fields will be blank. Later in 2018, income and rent limit checks will be fully implemented in DevCo for HOME, Ohio Housing Trust Fund (OHTF) and National Housing Trust Fund (NHTF). If the property has an HTC award, the limits will display for the tax credits.

For any TICs that were printed with -999 numbers or other issues in the income or rent limit related fields, an OHFA Clarification Record should be included in the tenant file showing the correct income or rent information. If you have any questions or experience additional issues, please contact the DevCo Help Desk.

 

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