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Overview

COVID 19 - ASSET MANAGEMENT GUIDANCE

 

HCR's Asset Management / Low-Income Housing Credit Compliance Monitoring Program is designed to ensure that limited housing resources are used for the purpose which they were originally funded and benefit the population they were intended to serve.

The program requires annual certification by project owners and certification compliance review by HCR, collection and processing of compliance monitoring fees, on-site compliance monitoring of each project-every three years, resolution and reporting of all non-compliance issues, and technical assistance to project owners.

As of January 2021, the 9% affordable portfolio consists of 1,225 projects with 5,023 buildings and 66,077 units.

As of January 2021, the 4% affordable portfolio has 686 properties comprised of 3,060 buildings and 121,246 units.

 

COVID 19 IRS Regulation 2020-53 Guidance

The IRS issued Notice 2020-53 in regards to annual recertifications and State Compliance Monitoring requirements through 12/31/2020.  Below is NYSHCR’s guidance in regards to this new regulation.  

 

irs notice 2020-53

 

COVID 19 IRS Regulation 2021-12 COVID-19 Relief Measures

The IRS issued Notice 2021-12 in regards to annual recertifications and State Compliance Monitoring requirements through 9/30/2021.  Below is NYSHCR’s guidance in regards to this new regulation.  

 

IRS Notice 2021-12

NCSHA Notification

File a Complaint

If you live in a 9% Low-income Housing Credit property under the jurisdiction of the New York State Division of Housing and Community Renewal (DHCR) Asset Management Unit and are having issues, you may file a complaint with this agency.

 

If you live in a Mitchell Lama property you may file a complaint at https://hcr.ny.gov/mitchell-lama-program

 

If you live in a rent controlled or rent stabilized property you may file a complaint at  https://hcr.ny.gov/tenant-owner-forms 

 

Please be advised, the property owner may be contacted regarding this complaint.

 

9% Low-income Housing Credit Property Complaint Form

LIHTC Projects for Sale Under Qualified Contract

For 9% Tax Credit Allocation Developments:

Margaret Feml, Asset Management Unit
Phone (518) 486-6273; Fax (518) 486-3366
NYS Homes & Community Renewal
The Hampton Plaza
38-40 State Street, Albany, NY 12207

 

9% Developments for Sale through Qualified Contract:

None at this time

 

For 4% Tax Credit Allocation Developments:

Kathryn Marnell, Vice President

OHP/ Statewide Asset Management
Phone: (212) 872-0483 Fax: (212) 917-0483
NYS Homes & Community Renewal
641 Lexington Avenue – 4th Floor
New York, New York 10022

Qualified Allocation Plan

Part 2040 Low-Income Housing Credit Qualified Allocation Plan

  • LIHC Qualified Allocation Plan (effective 11/20/2013)

  • Previous LIHC Qualified Allocation Plan 


Section 2040.14 New York State Low-Income Housing Tax Credit Program

  • SLIHC Regulations (effective 11/20/2013)

  • Previous SLIHC Regulations


If you have any questions about these documents or their applicability to a specific project, please feel free to contact your DHCR Regional Office or Arnon Adler, Director, Low-Income Housing Credit Program at (518) 486-5044.

Qualified Contracts

Violence Against Women Act (VAWA) Bulletins and Forms

For forms and guidance regarding the Violence Against Women Act (VAWA) visit:

HCR VAWA Page

 

HCR Fair Housing Guidance and Materials

To obtain the guidance and materials you require, please visit Fair Housing below:

Fair Housing

Forms

Forms and documents.

  •  

    Lease HOME

    Lease for project units with HOME funds - this is a residential lease between the owner and tenant.
     

    Download

Online Forms

SRDI Program Monitoring

Notices/Bulletins

  •  

    2023 Utility Allowance Memo

    The 2023 Utility Allowances have been released and notification should be sent to the Owners and Managing Agents of your respective properties within the 5 boroughs of New York City no later than Friday, 1/27/23. For those projects located outside of the 5 boroughs please see the notification that should be sent to those Owners/Agents this week for them to comply by Friday, 1/27/23.
    Please click for details and instructions.
     

    Download
  •  

    2022 Utility Allowances

    HCR-HFA 2022 Annual Utility Allowances and annual notification. 

    HCR-HFA Notification – effective 1/7/2022

     

    Projects located outside of New York City:

    For Projects located outside of New York City , (except as otherwise provided in IRS Regulation ‘1.42-101) the project owner or management must obtain and furnish to HFA a copy of the local public housing authority’s utility allowance schedule in effect as of January 1, 2022. This schedule must be attached to a cover letter sent to the attention of the HFA Asset Manager assigned to the project. The cover letter must propose adoption of the new Utility Allowances based on such schedule, and state that the new Utility Allowances will become effective after January 1, 2022. The new utility allowance must be implemented within 90 days of receiving HFA approval.

     

    The revised utility allowances are effectuated following the 30 day notice period to all tenants.

    Please send the utility allowance schedule on or no later than Friday January 28, 2022.

    ***********************************

    In connection with its monitoring of compliance with federal Low-Income Housing Tax Credit (“LIHTC”) program requirements, the New York State Housing Finance Agency (“HFA”) implemented certain procedures, set forth below, to ensure compliance with the applicable provisions of IRS Regulation '1.42-10 (Utility Allowances), which provides in part that if at any time during the building’s compliance period, inclusive of the extended use period, the applicable utility allowance for a unit changes, the new utility allowance must be used to compute net rents of rent-restricted LIHTC units.

    ***************************************

    PROJECTS LOCATED IN NEW YORK CITY:

    For projects located in New York City, HFA has obtained the latest utility allowances from the New York City Housing Authority. Except as otherwise provided by HUD PHA or in IRS Regulation ' 1.42-10, such utility allowances shall be effective with respect to low-income units in New York City projects after January 1, 2022.

     

    The revised utility allowances are effectuated following the 30 day notice period to all tenants.

    See attached schedule for reference and also can be on the below hyperlink  found:

     

    https://www1.nyc.gov/assets/nycha/downloads/pdf/section8-hcvp.pdf

    Voucher Payment Standards VPS Utility Allowance Schedule - NYCHA

     

    Please note, the 2022 Utility Allowance Chart as well as this notification can be found on the Agency’s website by using this link to the Asset Management Module.

    https://hcr.ny.gov/asset-management

    Then scroll down to the “Notices/Bulletins” segment to locate the document titled 2022 Utility Allowance to download.

     

    Download

Asset Management Unit Transactions