The implementation date has been pushed back to 1/1/2027 as many expected.
Spectrum Compliance, as the LIHTC Compliance Agent for EOHLC, is encouraging Section 42 properties to begin using the HOTMA standards as soon as they are capable. This is not a requirement until 1/1/2027.
If Ownership and Management choose to incorporate the HOTMA standards, they must be incorporated in full. The focus continues to be on anticipated income for the next 12 months. Historical information can be helpful in this regard. As always, due diligence sometimes requires follow up and more than minimum documentation.
Please reach out with any questions and we’ll try to help.
Edward Clark
Director- MA monitoring
