Every year, owners and managers of affordable rental housing funded through Kentucky Housing Corporation (KHC) are asked to prepare and submit an Annual Performance Report (APR) packet by April 1 for the previous calendar year. The APR packet submission deadline is April 1. All packets should be received by this date to avoid penalties being assessed.
To decrease costs for partners and KHC, the Owner’s Annual Certification of Compliance, all tenant data, and the Annual Operating Expense Form is now required to be submitted through KHC’s Tenant Data Certification System (TDCS).
These requirements affect all affordable rental housing programs that are required to submit APRs to KHC’s Compliance Department. This includes projects allocated Housing Credits and funding from the Section 1602 Exchange, TCAP, Risk-Sharing, HOME Investment Partnerships, and Small Multifamily Affordable Loan (SMAL) Programs, Affordable Housing Trust Fund (AHTF), and the National Housing Trust Fund (HTF).
Tenant Data Certification System (TDCS)
The Annual Operating Expense Information, Owners Annual Certification of Compliance, Rental Program Building Status Report, and Vacancy Rate Calculation will no longer be accepted via email attachment or attached paper copy unless additional fees are submitted, as outlined in the Compliance Monitoring Fee Schedule. Owners/managers must now provide tenant and project data via TDCS.
Tenant data must be updated and maintained in TDCS each month by the 15th of the following month.
Exemption To Data Entry Fee: Currently, TDCS is unable to accommodate projects that consist entirely of Single Room Occupancy (SRO) units and their unique unit structure. Therefore, these projects cannot use TDCS to enter tenant data. However, these projects must use TDCS to submit the current Annual Performance Reporting Packet and pay the APR fees. Please follow instructions outlined in the Submission Instructions.
APR reports cannot be submitted with missing information, including but not limited to tenant certifications. Missing household certifications will create an issue when submitting the APR report, which could result in late fees.
For receipt confirmation of APR submission: Once you have submitted the report, please log out of TDCS and log back in to confirm the report was submitted by viewing your name and date of submission.
Management Company Information
Changes in management company information must be submitted through the Management Update Information Form, which is located within TDCS.
Note: Failure to submit changes in management company information may prevent KHC releasing project information to the new managing company.
Electronic Signature Authorization Form
(No Additional Fee Assessed)
KHC no longer requires an Electronic Signature Authorization Form to be submitted to the Compliance Department. Current Electronic Signature Authorization Forms must be maintained at the project/management office. KHC compliance officers will audit these forms during their annual monitoring visit.
Fee Structure
Compliance Monitoring Fee Schedule includes instructions for payments to KHC. The Annual Monitoring Fee is only applicable to projects with an allocation of Housing Credit or Risk Sharing.
The following fees are in addition to any Annual Monitoring Fee due, regardless of funding source:
Late Fee – Applies to any APR packet, regardless of funding source, submitted after April 1st. No exceptions.
Date Entry Fee – Applies to any packet in which the Rental Building Status Report, Annual Operating Expense Information, and/or Vacancy Calculation forms are submitted via electronic email attachment or paper copy.
Paper Submission Fee – Applies to any packet in which the Owners Annual Certification of Compliance, Rental Building Status Report, Annual Operating Expense Information, and/or Vacancy Calculation forms are submitted via paper copy.
Caution
The Annual Performance Reporting packet is accepted by KHC as the owners' signed sworn affidavit of certification that information being submitted is accurate and true. Please be aware, a desk review of Annual Performance Reporting packets may be conducted. Should non-compliance be noted during the desk review, the owner/management company will be notified of such findings and given a correction period to respond to the findings. Once the correction period has expired, failure to adequately respond to a finding may result in the Internal Revenue Service being notified of non-compliance and the recapture of funds, freezing of current allocations, or denial of future funding requests.