Bond Compliance Procedures Manual

For Renters

For Property Managers

Be the first to know!
E-News monthly newsletter

info

These procedures provide owners and managers of properties financed with Commission-issued tax-exempt bonds with step-by step instructions on how to fulfill compliance requirements.

For more information or questions, property managers and owners should contact their Portfolio Analyst. Bond property reporting requirements can be obtained by reviewing the Regulatory Agreement and Project Description or by contacting the property Portfolio Analyst.

Bond Compliance Reports

View applicable reports and submission procedures for bond compliance.

Visit Reports Page

Chapter 1 - Introduction

Introduction (PDF) Rev 02/27/2025
(1.1) General Overview

Chapter 2 - General Property Informaton

General Property Information (PDF) Rev 02/27/2025
(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

Rental Process & Reporting Procedures (PDF) Rev 02/27/2025
(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

Income & Asset Certification (PDF) Rev 02/27/2025
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

Property Transfers (PDF) Rev 02/27/2025
(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:
Im SS-4 Application for Employer Identification Number (PDF)
Financial Solvency and Litigation Form (PDF) Rev 10/2019