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++ Sec. 42 Tax
Credits: Learning Program Basics
(4.0 Hrs of Real Estate CREs Applied for)
This course will be offered once each quarter in
2010 in Twin Cities and Greater Minnesota
locations.
Topics to be covered:
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Written agreements, deeds
and restrictive covenants (LURA)
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Compliance guidance
documents, policies and procedures
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Property standards
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Marketing and tenant
selection, including special populations to
be served; Fair Housing
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Lease terms and tenant
protections
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Reports, record keeping,
and monitoring
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Costs and penalties
associated with noncompliance
Space is limited to 40
registrants. This is an elective training
session intended for new staff or staff who want
a
“refresher” overview of key components of the
Sec. 42 tax credit program. (This course will be
offered once each
quarter in 2010 in Twin Cities and Greater
Minnesota locations).
++ Qualifying the Household
(4.0 Hrs of Real Estate CREs Applied for)
This course will be offered once each quarter in
2010 in Twin Cities and Greater Minnesota
locations.
Topics to be covered:
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Household composition and
definition of income; special concerns
related to student households
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Initial income-eligibility
verification requirements and guidance,
based on HUD Occupancy Manual 4350.3, Rev. 3
(Chapter 5)
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Income certification and
recertification requirements: focus on
following the Building Map, considerations
for projects with multiple funding sources
or special LURA restrictions
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Analyzing the tenant
application, clarifying and calculating
annualized household income, special
circumstances
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Red flags and best
practices for compliant documentation
methods and recordkeeping
Space is limited to 40
registrants. This is an elective training
session intended for new staff or staff whose
duties
are mainly contact with applicants and residents
to verify and certify income.
++ Preparing and Submitting
your Annual Compliance Report
(The Tax Credit "desk audit")
Date, Place and Time TBD
Registration Form
Topics to be covered:
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Preparing your 2010 annual
compliance report: ERP and other required
submissions
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Special report
considerations for the First Tax Credit Year
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How to respond to "desk
audit" review letters
Space is limited to 40
registrants. This is an elective training
session intended for "hands on" site and
property
management staff as well as for compliance staff
who review the work of others.
++ Preparing for Your Site
Visits and Project Files Review
Date, Place and Time TBD
Registration Form
Topics to be covered:
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Preparing for the Site
Visit
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Pre-visit paperwork
submission requirements
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The physical
inspection and how to respond to code
standards violations
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Preparing for the Project
File Review
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Paperwork submission
requirements for the project and for
tenant files subject to "desk audit"
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The project review
letter and how to prevent and respond to
noncompliance findings
Space is limited to 40
registrants. This is an elective training
session intended for "hands on" site and
property
management staff as well as for compliance staff
who review the work of others.
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