OHFA 2023 First Quarter Agency at a Glance

OHFA UPDATE - PAGE 7 - 2023 FIRST QUARTER OFFICE OF MULTIFAMILY HOUSING: DEVELOPMENT DIVISION UPDATE ATHENA LUNSFORD COMPLIANCE OPERATIONS SECTION CHIEF OHFA AUDITS Audit season is in full swing, and the Compliance team has begun assessing 2023 projects. Please ensure there are sufficient staff members to accompany auditors on their audits, and all tenant door keys are available. With an increased volume of audits this year, we ask for your patience as we work to respond to your inquiries. ANNUAL OWNER REPORTING The Compliance team has started processing and reviewing almost 1,800 Annual Owner Reports (AORs) that were due March 1, 2023. OHFA appreciates all of our partners who worked to get their AORs completed and submitted on time! COMING CHANGES There are many changes coming to compliance over the next year. On January 31, 2023, the United States Department of Housing and Urban Development (HUD) published a draft of the Housing Opportunity Through Modernization Act of 2016 (HOTMA) final rule. The new final rule can be found here . HOTMA will impact the Low-Income Housing Tax Credit (LIHTC), HOME, and National Housing Trust Fund (NHTF) programs that use HUD regulations — specifically Sections 102 and 104 of the final rule — and will be effective January 1, 2024. More information can be found on HUD’s HOTMA webpage . On October 1, 2023, the National Standards for the Physical Inspection of Real Estate (NSPIRE) protocol will replace uniform physical condition standards (UPCS) and housing quality standards (HQS) as the inspection protocols for HUD. LIHTC program projects will be affected by this change although we do not know when the IRS will make this change effective. As soon as that date is available, we will share it with you. Owners and management agents should begin preparing for NSPIRE now. Steps should be taken to update company policies/procedures, train staff, and revise inspection software to follow NSPIRE. Please review the NSPIRE model link . The Compliance office will provide more information as it becomes available, so stay tuned. 2023 TRAININGS Don’t miss out! The 2023 training calendar has been updated and we are excited to announce that some trainings will be IN PERSON! Webinars will also be offered for participant flexibility. Please visit our website to sign up . Also, check out OHFA’s Training Resources and On-demand Courses . OHFA HELP DESK If you have questions about compliance, Devco, or OHFA inspection issues, the fastest way to get a resolution is to direct those inquires to the OHFA Help Desk . COMPLIANCE STAFF The Compliance team is growing! We recently hired an 811 auditor and are combing through applicants for five housing examiner trainees. You will begin to see many new faces in the field soon. Thank you for your continued partnership, and happy spring, everyone!