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Instructions for Monthly and Annual LIHTC Reports

The following instructions are to be followed for projects receiving Low Income Housing Tax Credits (LIHTC) and/or Tax Exempt Bond Financing from HFA.  There are separate Monthly Project Occupancy Reports for the LIHTC and Tax Exempt Bond Financing programs.  However, if your project has both LIHTC and Tax Exempt Bond Financing, please utilize the LIHTC form for both programs.  Once submitted to the Agency, these reports will be processed electronically to validate data integrity and ensure compliance with regulatory requirements.  These reports are protected Excel documents; project personnel should never 1) unprotect the sheets, 2) change the format or formula of any cell, 3) insert rows and columns into or delete rows and columns from a sheet, or 4) add sheets to or delete sheets from a workbook.  Making changes in the sheets or putting improper information in cells (e.g. entering comments or notes in a numeric field) will result in your report failing during import and you will be requested to resubmit the data with corrections.   

Monthly Project Occupancy Report

This report should be completed monthly and e-mailed to the following HFA staff members:  Anthea.Martinez@nyshcr.org, Arundhati.Kamath@nyshcr.org and Gerard.Wickham@nyshcr.org .  Monthly reports are due by the 20th of the following month.  Please send all e-mailed reports to all three addresses to ensure that their receipt is recorded and the information is processed promptly.

Complete the form as indicated recording the occupancy information in the appropriate month.  The entire project will be reported in one workbook.  Do not complete separate workbooks for each building in the project. 

Note that the prior months’ occupancy information will remain in the workbook, so that by the end of the year the occupancy information for all 12 months will be recorded in one workbook.

The Monthly Project Occupancy Report workbook includes five sheets for the various AMI options appropriate to our portfolio: 40% AMI, 50% AMI, 60% AMI, 80% AMI and Other.  The tabs located on the bottom of the workbook permit you to move between sheets.  Please report occupancy information on the sheet which applies to your project.  For instance, if your project’s regulatory requirement for tax credits is that 20% of the units must be filled by households meeting the 50% AMI standard, then you would report on the 50% AMI sheet.  Some projects have multiple reporting requirements which would mean that more than one sheet in the workbook should be filled in.  As another example, a deep rent skewed project would report on both the 40% and 50% AMI sheets.  Any percent of AMI requirement other than the four standards provided should be reported on the sheet entitled “Other”.

Following are detailed instructions for each field on the monthly reports:

Month of Compliance Period:  Select the latest month for which data is provided on the report.

Report Year:  Select the appropriate year.

Legal Name of Owner / Address of Building/Project:  Please abbreviate this information, if the data will not fit in the space provided.

Project Name:  Entry is restricted to 34 characters in length.  Abbreviate, if necessary.

HFA Project Number:  Use the four digit number assigned the project by HFA.

(A)Total Units in Project:  Exclude non-rental units (such as a superintendent’s unit, a model unit or an office) if they were designated as such in the application for Low Income Housing Tax Credits.  When reporting on multiple project requirements, this information should be the same on every sheet completed.

Items (A) and (B) of this Report are fixed numbers and will not change throughout the program. 

(B) Minimum # of Income Qualified Units Required:  This information will be available in the project’s regulatory agreement. If the project has multiple reporting requirements, this information can be different on each sheet completed.  For instance, deep rent skewed projects have 50% and 40% AMI requirements, but usually mandate far fewer 40% units than 50% units.

(C) Income Qualified Occupancy:  Columns (C), (D) and (F) should represent occupancy data as of the last day of the month.  Please count all units occupied by income qualified households meeting the AMI standard indicated on the sheet.  If the Next Available Unit Rule is applicable and has been properly conformed to, over-income units, still occupied, should be included in the count.  Keep in mind that these over-income units must remain rent restricted.

(D) Income Qualified Vacant Units:  Include in your count only units vacant as of the month’s end that were last occupied by income qualified households meeting the AMI standard indicated on the sheet.

(F) Total Number of Units Occupied/Previously Occupied for Current Month:  Count all units, both income qualified and market, that have been rented-up ever, regardless of whether they are occupied or not at the month’s end.  Therefore, once every residential unit is rented-up at a project, this number will be equal to “(A) Total Units in Project”, regardless of subsequent vacancies.

The bottom section of the form which serves to certify this information must be filled out completely and dated as of the date when the latest monthly information was added.  If the same individual is preparing and reviewing the data, please enter that individual’s name in both fields.

Annual Income Qualified Unit Report

This report should be completed annually for both LIHTC and Tax-Exempt Bond projects and e-mailed to the Anthea Martinez, Arundhati Kamath and Gerard Wickham (whose e-mail addresses are listed above) no later than March 1st of the year following that for which you are reporting.  The data on the form should reflect occupancy as of December 31st of the year being reported.  The document is 2 pages wide and will expand lengthwise to handle large projects.   

Complete the information on the top of the Report.  Project Number is the 4 digit HFA number assigned to your project.  All fields in the top section should be filled in.  “Total # of Units in Project” should match the information provided on the monthly report.  “Minimum Required # of Income Qualified Units” includes all requirements regardless of % of AMI option. 

For the balance of the Report, complete each applicable column for each income qualified unit.  The information requested will provide both a historical record for each household’s unit occupancy, as well as a snapshot of current information which is contained on the Tenant Income Certification form. 

Following are detailed instructions for each field on the annual report:

Bldg #:  Each building in the project must have a unique identifier.  Even if a project is comprised of only a single building, a building # must be entered in this field.

Unit #:  Enter the unit number in the column provided.

# Bdrms:  Enter a whole number only.  Studios/efficiency units should be indicated by a “0”.

Tenant Name:  Enter the tenant’s first and last name.

Initial Certification Date:  Enter the effective date of the tenant’s initial certification.  Please note that for new move-in tenants (yet to be recertified by the end of the reporting year), the columns for “Current Household Size”, Current Certification Date”, “Current Gross Income” and “140/170% of Adjusted Current Income Limit” should not be filled in.

For Preservation Projects which generally have an existing tenant population at the time of  the issuance of tax credits, this date should be the effective date of the tenant’s first tax credit certification (not the tenant’s move-in date).  Accordingly, all other fields which contain information applicable to the tenant’s move-in should be filled with information from the initial tax credit certification.

Household Size at Move-in:   Total number of occupants in the unit at time of move-in.

Gross Income at Move-in:  Enter the gross annual income anticipated to be received by the tenant inclusive of wages, social security, pensions, public assistance, support payments, benefits and income from assets.  This information should be taken from the tenant’s initial certification and should remain consistent on future reports (unless the tenant transfers and must re-qualify for the program).

AMI Limit at Move-in:  Enter the applicable income limit per family size that was in effect on the tenant’s move-in date.  Project-specific income limit and maximum rent arrays are provided to our portfolio by New York State Housing Finance Agency whenever HUD publishes new income limits.

% of AMI at Move-in:  Please indicate the income restriction that the household meets according to the required set-aside(s) for the project.  For instance, if a project is required to fill 20% of its units with households with incomes meeting the 50% AMI requirement, then for all income qualified tenants “50%” should be entered in this column.  Note: you would enter 0.50 to have “50%” to appear in the cell.

Current Household Size:   Upon recertification, enter the total number of occupants in the unit as of the current effective date.  Please note that even projects not required to recertify tenants must fill in “Current Household Size”, “Current Certification Date”, “Tenant Rent Paid”, “Utility Allowance” and “Maximum Allowable Unit Rent” so that HFA can determine that the project is not exceeding the maximum rent restrictions.

Current Certification Date:  Enter the effective date of the current recertification.  The effective date should be no later than one year from the effective date of the previous (re)certification.  Projects with recertification waivers should enter the date of the latest annual lease renewal with the tenant.

Current Gross Income:  Enter the gross annual income anticipated to be received by the tenant inclusive of wages, social security, pensions, public assistance, support payments, benefits and income from assets as of the Current Certification Date.  This information should be taken from the tenant’s current certification (the certification in effect on December 31st).  Please note that White Hat projects, projects granted recertification waivers by the IRS and other projects not required to recertify tenants should leave “Current Gross Income” and “140/170% of Adjusted Current Income Limit” blank.

140/170% of Adjusted Current Income Limit:  For recertifications only, enter the current income limit applicable to the current household size multiplied by 140%.  Deep rent skewed projects should use 170%.

Tenant Rent Paid:  Enter the amount the tenant pays toward rent (not including rent assistance payments such as Section 8).

Utility Allowance:  Enter the utility allowance.  If the owner pays all utilities, enter zero.

Maximum Allowable Unit Rent:  Enter the applicable Maximum Allowable Unit Rent that was in effect as of the effective date of the current tenant certification. Project-specific income limit and maximum rent arrays are provided to our portfolio by New York State Housing Finance Agency whenever HUD publishes new income limits.  Please note: Tenant Rent Paid plus the applicable Utility Allowance cannot exceed the Maximum Allowable Unit Rent.

Move-out Date:  If a unit is vacated before the last day of the year, and remains vacant on the last day of December, leave in each column the information that applied to the last certification prepared for the vacated tenant and simply indicate the Move-out Date in the appropriate column.  Retaining information on the vacated tenant will allow us to verify that the last tenant in the unit did indeed meet “income qualified” standards and will ensure that we correctly count the vacant unit in the proper percentage.  When the unit is refilled by an income qualified tenant before the end of the reporting year, this information will no longer be significant; you can enter the next tenant’s information over the vacating tenant’s record and remove the move out date.  If the unit is re-rented to a market rate tenant, you should remove the prior tenant’s information from the report; the unit will no longer count towards your income qualified requirement.  

Please contact the Asset Manager assigned to your project if you have any questions concerning this reporting format.  To  have the forms e-mailed to you in Excel format, please contact the Compliance Monitors at the e-mail addresses previously listed.