Asset Management Compliance Monitoring

The Asset Management Team is responsible for the loan servicing and financial analysis functions of multifamily projects for the Kentucky Housing Corporation (KHC).

The Compliance Team monitors recipient compliance with governmental regulations in order to meet federal and state program requirements. Programs monitored include Housing Credit, HOME, Emergency Shelter Grant, Supportive Housing, Housing for Persons with AIDS, Risk Sharing, SMAL, Recovery Kentucky and the Affordable Housing Trust Fund.

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Recent Policy and Procedure Changes

• Housing Credit Income/Rent Limits 
• Financial Statement Evaluation Policies   

Multi-Family Rental Program Reporting

• Rental Program Annual Reporting Forms

Compliance Monitoring Resource Tools

• Fair Housing Compliance Checklist 
• Guide for Completing IRS Form 8823 (Revised October 2009)   
• HUD Handbook 4350.3 REV-1 Chg 2 (Chapter 5 Determining Income and Calculating Rent) 
• Summary of Changes to HUD Handbook 4350.3 REV-1 Chg 2 
• Verification Forms
• Procedures for Requesting Changes to Project Design
• Compliance Certificate for Lead-Safe Renovation, Repair and Painting (RRP) Rule 

Asset Management Resource Tools

• Management Information Update Form  
• Reserve for Replacement Form 
  • Reserve for Replacement Policy 
  • Reserve for Replacement Authorization Form HUD-9250 
  • Reserve for Replacement Management Certification 
  • Reserve Replacement Authorized Signature Form  

  • TCAP/EXCHANGE Reserve for Replacement Draw Approval Request Addendum 

    
    
• Project Owner's/Management Agent's Certification Form HUD-9839-B  
• Annual Financial Statement and Compilation Requirements 
• Example of Compilation Accounts
• HUD Multifamily Chart of Accounts List 
• HUD Multifamily Chart of Accounts Descriptions  

Housing Credit Program

• Compliance Monitoring Fee Schedule 
• Revisions to Compliance Monitoring Requirements due to H.R. 3221  
• Request for Issuance of Low-Income Housing Credit Allocation and Certification (IRS Form 8609)  
• Qualified Contract Request Process  
• Section 42 Qualified Contract Provisions 
• Compliance - 2007 Affordable Housing Conference 8823 Guide PowerPoint Presentation  
• Verification of Special Needs by Quailfied Service Provider  
• Compliance Requirements after Year 15 
• Notification of Removal of Unit(s) for Resident Manager, Maintenance or Security Officer 
• Tenant Release and Consent for Utility Information  
• Utility Allowance Rules for Housing Credit and/or Home Properties  
• KHC Utility Allowance Option 9 Spreadsheet  
• LIHTC General Partner Transfer of Ownership Interest Form 
• LIHTC Limited Partner Transfer of Ownership Interest Form
• LIHTC Sale to Tenant Owner Certification

HOME Rental Program

• HOME Income Limits 
• HOME Rent Limits  
• Determining HOME Rents at Re-certification   
• Compliance in HOME Rental Projects: A Guide for Property Owners      

HOME Homeownership Programs

• Homeownership Monitoring Process 
• Home Buyer Compliance Checklist 
• Home Buyer Site Review Checklist 
• Homeowner Rehab Compliance Checklist 
• Homeowner Rehab Site Review Checklist 
• HUD Monitoring Handbook

Risk Sharing Program

• Affirmative Fair Housing Marketing (AFHM) Plan - Multifamily Housing 
• Management Review for Multifamily Housing Projects (HUD Form 9834) 
• Asset Management Policies and Procedures 

Specialized Housing Resource Tools

• Defining Chronically Homeless  NEW! 
• Drug Free Workplace Requirements 
• Homeless Eligibility Form 
• Non-Profit Procurement Policy 
• Sample Time Sheet 
• Contractor Debarment and Suspension Certification Form  NEW!
• Sub-Contractor Debarment and Suspension Certification FormNEW!

Emergency Shelter Grant (ESG)

• 2007 ESG Compliance Guidelines 
• ESG Site Review Checklist  UPDATED!

Supportive Housing Program (SHP)

• 2007 Supportive Housing Compliance Guidelines 
• SHP Site Review Checklist  UPDATED!
• HUD Inspection Book 52580-A 

Shelter Plus Care Program (S+C)

• S+C Site Review Checklist  

Weatherization Assistance Program

   

KY HEARTH 

• HPRP Housing Status: Eligibility Determination and Documentation Requirements
• HPRP Income: Eligibility Determination and Documentation Requirements
• HPRP Homeless Certification Template
• HPRP Self-Declaration of Housing Status Template
• HPRP Self-Declaration of Income Template

Other Programs

• AHTF or SMAL Compliance Monitoring Policy - Revised 11-2007 
• AHTF Habitability Standards 24 CFR 574.310(2) 

KHC Utility Charts

Effective January 2008

• East Region  
• West Region  
• Central Region  

Effective January 2009

• East Region  
• West Region  
• Central Region 

Effective January 2010

• East Region  
• West Region 
• Central Region