Owner, General Partner & Management Company Changes
- Owner Management Company Change Policy (264 KB Adobe PDF File) – revised 10/3/16
- PC-E40 Owner Capacity Review (2.15 MB Excel File) – effective 10/3/16
- PC-E39 Management Change Form (159 KB Excel File) – revised 8/31/16
- PC-E38 Management Capacity Review (1.79 MB Adobe PDF File) – revised 8/31/16
- PC-E37 OHFA Disposition of Property Form (201 KB Adobe PDF File) – revised 8/31/16
Qualified Contract Requests
Certain Housing Tax Credit properties can seek a buyer through the qualified contract process. Review the restrictive covenant for your project to determine if it qualifies.
If you have any questions about qualified contract requests, contact your regional representative.
- LIHTC Property Sales
- Qualified Contract Request Instructions and Worksheets (113 KB Excel File)
Restrictive Covenant Release/Modification
Recently, OHFA has witnessed an increased number of requests for the release or modification of restrictive covenants. OHFA's Qualified Allocation Plan (QAP) after 1996 required owners to waive the right to request a qualified contract which is one means available to sell the low income portion of a project, but often a path to a covenant release. Therefore, many owners have been requesting a full release of the restrictive covenant. In many instances, a modification to the restrictive covenant rather than a full release of the covenant is more appropriate. This entails increasing the number of "market units" (units with no rent or income restrictions) or increasing the rent and income limits.
Requests for project modifications or releases should be sent to Todd Carmichael, Compliance Manager, Office of Program Compliance at Todd Carmichael or by mail to 57 East Main Street, Columbus Ohio 43215.
- Restrictive Covenant Release/Modifications Policy – Updated 1/3/14 (146 KB Word File)
- Covenant Release Template (44 KB Word File)
- Covenant Modification Template (43 KB Word File)
- Restrictive Covenant – Sample Proforma (21 KB Excel File) – updated 2/24/14
- PC-E41 Restrictive Covenant Release Questionnaire (515 KB Adobe PDF File) – posted 5/16/11