Check out the latest compliance updates from OHFA.

 

June 12, 2019

Volume: 3

 

 

Update

The new Compliance Audit Report (CAR) is coming! Be on the lookout for the CAR if you have had an OHFA audit this year. The new report will be the only way to receive the results of the OHFA audit and upload the corrections to audit findings. 

 

Review the DevCo Inspection guide to get started with audit responses.

 

·     IMPORTANT – In order to receive a CAR, you must be a registered DevCo user for the project. If you are not already a registered DevCo user for the project, please review the following: 

·     View the Register in DevCo for Access video or sections of the DevCo Compliance User Guide to review registering or adding properties. 

·     OHFA grants access to Owners for DevCo Compliance and Inspection.

 

·     Syndicators – If you want to receive audit alerts and the ability to view the CAR for a project, contact the owner for DevCo access. 

 

·     NOTE - Google Chrome is the only browser that supports the CAR If you try to use another internet browser, you will not be able to view or respond to the report. 

 

·     If you experience any issues using DevCo Inspection use the DevCo Helpdesk to report the problem. 

 

Rent and Income Limits

2019 Rent & Income Limits have been posted on the OHFA website. 

 

RD Utility Allowances

Information regarding RD utility allowances for 515 properties is below, taken directly from 1.42-10 (RHS assisted building……RHS assisted tenant). Note – this does not apply for RD 538 properties, since they are a loan guarantee through a lender. The RD UA is not generally used unless the property has 515 funding, as well.

 

 

(b)Applicable utility allowances - 

 

(1)Buildings assisted by the Rural Housing Service. If a building receives assistance from the Rural Housing Service (RHS-assisted building), the applicable utility allowance for all rent-restricted units in the building is the utility allowance determined under the method prescribed by the Rural Housing Service (RHS) for the building (whether or not the building or its tenants also receive other state or federal assistance). 

 

(2)Buildings with Rural Housing Service assisted tenants. If any tenant in a building receives RHS rental assistance payments (RHS tenant assistance), the applicable utility allowance for all rent-restricted units in the building (including any units occupied by tenants receiving rental assistance payments from the Department of Housing and Urban Development (HUD)) is the applicable RHS utility allowance.

 

 

Monthly DevCo Tenant Data

It is mandatory that you correctly designate all LIHTC, HOME, trust, manager and market rate units correctly in Devco. OHFA’s new software system requires monthly updates in DevCo for all units. Below are screenshots on how to update DevCo: