Compliance Policies

  • Compliance Policies

As regulations and programs evolve, OHFA makes updates to the compliance rules and procedures associated with our various projects and programs. As a manager or owner of an OHFA-funded property, it's your responsibility to ensure that your properties comply with all applicable local, state, and federal laws and regulations. We've provided the following forms, documents, and information to help with compliance to OHFA's policies and ensure your project's success.

If you have any questions about these updates or resources, contact your regional representative.

Additional forms can be found under our Compliance Forms and Project Requests & Changes webpages.

Tax Credits

The Internal Revenue Service and Internal Revenue Code regulate the Housing Tax Credit (HTC) program. Qualified Allocation Plan (QAP) documents describe OHFA's procedures and policies for distributing Ohio's allocation and basic requirements for compliance of housing credits that support quality affordable rental housing.

Please see the Qualified Allocation Plan webpage for a QAP for a particular allocation year.

Please see the IRS & HUD Guidance webpage for more information on the HTC program.

HOME and Other Gap Financing

The goal of HUD's HOME Investment Partnerships Program (HOME) is to provide formula grants to state housing agencies to provide financing for eligible affordable housing developments to expand, preserve, and/or improve the supply of decent, safe, affordable housing for very low- to moderate-income persons and households in the State of Ohio. In addition to HOME funds OHFA has offered several other types of gap financing including Ohio Housing Trust Fund (OHTF), Tax Credit Assistance (TCAP), Tax Credit Exchange (TCE), and the Neighborhood Stabilization Programs (NSP), and Financial Adjustment Factor (FAF) funds.

Please see the IRS & HUD Guidance webpage for more information on the HOME program.

Asset Management

To ensure the long term financial viability of projects developed with the use of ARRA (TCAP, RTCAP, TCE) program resources, multifamily loans, projects that contain 10 or more HOME assisted units and any project for which OHFA requires ongoing asset management oversight. Long term viability will be evaluated through the analysis of quarterly and annual financial statements and approved annual budgets.

Affirmative Fair Housing Marketing

Utility Allowance

On July 29, 2008, the IRS issued final regulation 1.42-10 (Utility Allowances). The final regulation revises and expands the methods available for calculating utility allowances, in addition to outlining other changes. The OHFA Utility Allowance Guidelines describe how owners of Housing Tax Credit projects should implement final regulation 1.42-10.