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State News:

February 25, 2019

On 2/26/19 the Treasury Department will officially publish significant changes to LIHTC monitoring requirements. A copy of the publication can be found HERE

* Advance notice of file reviews and inspections will be limited to no more than 15 days.

* Same day notification of the particular units and files to be reviewed.

* The number of units and files reviewed will increase for properties with 100 or fewer units, decrease for properties with more than 100 units.

The IRS has severely limited the amount of advance notice monitoring agencies are allowed to give LIHTC property owners of upcoming file reviews and physical inspections. This is presumably because some owners have used the advance notice to make deferred repairs and improvements they otherwise would have put off. As a result, the conditions noted at the time of the inspections do not accurately reflect the conditions the tenants experience on a regular basis. The IRS believes giving Owners no more than 15 days advance notice of an inspection and/or file review will help eliminate this gaming of the system. By using same-day notice of which units/files in particular will be reviewed, the IRS believes the results of the reviews will better reflect actual conditions.

These changes present significant logistical issues for Owners, Managers, and Monitoring Agents. Allocating Agencies are required to implement these changes no later than 12/31/2020. You should review your policies and procedures now as these changes can be put in place any time before then.

January 16,2019

The February 4 seminar is nearly at capacity! If you haven't signed up yet do it soon. If you signed up via email and didn't receive a confirmation please double check to make sure we received your request. Email either lois.churchill1@gmail.com or htucker@spectrumlihtc.com

January 2, 2019

A free one-day seminar will be conducted on February 4, 2019 at the Alohilani Resort Waikiki Beach. This seminar will be an introduction to Hawaii Housing Finance and Development Corporation’s Affordable Housing Programs. Registration starts at 8:00 a.m., and workshop begins at 9:00 a.m.

For more information please see the seminar brochure.

October 11, 2018

The Social Security Administration has announced the Cost-of-Living Adjustment (COLA) for 2019. The COLA will increase 2.8 percent beginning on December 29, 2018.www.ssa.gov

October 8, 2018

The 2018/2019 QAP has been published by the HHFDC. You will find it under LIHTC Qualified Allocation Plans (QAP).

June 5, 2018

HOME/NSP annual reports are due by 7/15/18. Please be sure to include utility allowance and current County rent approvals with your submissions. Thank you for your cooperation.

May 14, 2018

The 2018 HOME income limits have been published. They are effective 6/01/2018 and must be put in use immediately. Limits may be found below under the Income Limits tab.

May 8, 2018

The HHFDC 2018 Income Limits have been published. They are effective 4/1/2018 and must be in use no later than 5/15/2018. Limits may be found below under the Income Limits tab. Please remember these are only to be used as a guide.

April 2, 2018

HUD has released the 2018 income limits. They are effective 4/1/18 and must be in use no later than 5/15/18. Rents will be posted from the HHFDC within the next 45 days. Please continue to check for updates.

To find your 2018 income limits visit: https://www.huduser.gov/portal/datasets/mtsp.html

January 18, 2018

An updated LIHTC Compliance Manual has been posted to the LIHTC Compliance Manual section below. Section 29 has been added and is effective immediately. This new section addresses HUD's Violence Against Women Act (VAWA) requirements. Please download, print this section and add to your current compliance manual.

October 13, 2017

The Social Security Administration has announced the Cost-of-Living Adjustment (COLA) for 2018. The COLA will increase 2.0 percent beginning on December 29, 2017. www.ssa.gov

 


Welcome!

In Hawaii Spectrum Enterprises performs compliance monitoring for six of the Hawaii Housing Finance and Development Corporation’s (HHFDC) affordable housing programs:

  • Low Income Housing Tax Credit (LIHTC)
  • Tax Credit Assistance Program (TCAP)
  • Grants in Lieu of Low Income Housing Allocations (Section 1602)
  • HOME Investment Partnerships Program (HOME)
  • Rental Housing Revolving Fund (RHRF)
  • Neighborhood Stabilization Program (NSP)
  • Rental Assistance Program (RAP)
  • Rental Assistance Revolving Fund (RARF)
  • Hula Mae Multifamily Fund (HMMF)

We also conduct a one-day training seminar every February called “Introduction to Hawaii Housing Finance and Development Corporation’s Affordable Housing Programs.”