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Bond Compliance Procedures Manual
Designed
to give property owners and managers step-by step instructions on how to fulfill
compliance requirements if Commission-issued tax-exempt bonds financed a
property.
For more information or questions, property managers and owners should contact
their Portfolio Analyst. Subscribe to
E-NEWS Email and you will be notified when there are changes to this manual.
Bond property reporting requirements can be obtained by reviewing the Regulatory
Agreement and Project Description or by contacting the property
Portfolio Analyst. See
Bond Compliance Reports page for report
descriptions and instructions.
Bond-Financed Properties, Compliance Procedures Manual – Revisions Memo #1-2018
Cover Sheet (PDF) Rev: 08/14/2024
Table of Contents (PDF) Rev 10/2019
Chapter and Appendix
1 | 2 | 3 | 4 | 5 | A | B | C| D | E | F |
Chapter 1
Introduction (PDF) Rev
10/2018
(1.1) General Overview
Chapter 2
General Property
Information (PDF) Rev 10/2018
(2.1) Bonds vs. Tax Credits
(2.1) Bonds are Income Restricted Only
(2.1) Bond Closings and the Minimum Set-Aside
(2.2) Federal Minimum Low-Income Set-Aside
(2.3) Consequences of Non-Compliance
(2.3) Property & Resident Manager Guidelines
(2.3) Income Set-Asides and Your Residents
(2.4) Discrimination Prohibited
(2.5) Full-Time Students
(2.5) Student Status Documentation
(2.7) Special-Needs Housing Commitments/Set-Asides
(2.7) Persons with Disabilities Commitments
(2.8) Large Household Commitments
(2.8) Housing for the Elderly Commitments
(2.8) Double Counting
(2.9) Marketing and Good Faith Efforts
(2.10) Minimum Rental Agreement and Physical Requirements of Set-Aside Units
(2.11) Inspections
(2.11) Qualified Vacant Units
(2.11) Allowable Fees
(2.11) Rents
Chapter 3
Rental
Process & Reporting Procedures (PDF) Rev 10/2019
(3.1) Rental Process
(3.1) Proportionate Lease-Up Requirement - New Construction Properties
(3.1) Counting Vacant Units to Meet Set-Aside Requirements
(3.2) Move-Ins
(3.2) Move-Outs
(3.2) Record Keeping and Retention Period
(3.2) Reporting Dates
(3.3) Income Recertification
(3.3) If a Resident Moves Within a Project
(3.3) Qualifying a Resident After Move-In
(3.3) Available Unit Rule (140%)
(3.4) Required Forms and Documentation
(3.4) Authorized Signatories
(3.4) Submitting Reports
Chapter 4
Income & Asset
Certification (PDF) Rev 10/2018
Calculating Assets 101- Part 1 & Part 2 Training
Videos May 2008
(4.1) Summary
(4.1) HUD Occupancy Handbook 4350.3, Chapter 5
Chapter 5
Property Transfers (PDF) Rev
03/2021
(5.1) Summary
(5.1) Types of Transfers or Assignments Requiring Commission Consent
(5.3) Conditions and Consent
(5.3) Fees
(5.4) Timeframe and Completeness
(5.4) How to Submit Required Documents
(5.5) Required Document for All Transfers
(5.5) Specific Documentation Required for Sale of Property
(5.8) Specific Documentation Required for Changes to General Partner or Managing
Member
Attachments:
IRS
Form SS-4 Application for Employer Identification Number (PDF)
Financial Solvency and Litigation Form (PDF)
Rev 10/2019
Appendix A
Glossary (PDF) Rev 08/2014
Appendix B
Differences Between Tax Credits and Bonds (PDF) Rev 11/2014
Appendix C
Bond Property Income Limits (PDF) Rev 08/2019
Appendix D
Income & Asset Verification Summary Chart (PDF) Rev 07/2016
Appendix E
HUD Occupancy Handbook 4350.3, Change 4 (Excerpts) Rev 11/2014
Chapter 5:
Determining Income and Calculating Rent (PDF)
Chapter 5, Appendix
3: Acceptable Forms of Verification (PDF)
Chapter 5,
Exhibit 1: Income Inclusions and Exclusions (PDF)
Chapter 5, Exhibit 2: Assets (PDF)
Appendix F
Bond-Financed Properties Frequently Asked Questions (PDF) Rev 10/11/2021
08/14/2024