• New software for audits will be used beginning this year. The software integrates with DevCo Online. The new software will allow OHFA PC to move toward becoming a paperless department, work more efficiently and improve consistency. Owners/ managers will also be able to view all of the review reports for projects that they have access to in DevCo. More information on how owners/managers will begin utilizing the new software on their side will be sent out soon.

• Effective immediately, owners/managers will be required to update all tenant and project data in DevCo each month. Also, once an owner/manager is notified of an upcoming OHFA audit, the data will need to be updated within 10 days in order for OHFA to conduct the audit accurately. It is especially important that owners/ managers are correctly designating HOME and Market units in DevCo.

• OHFA will begin to conduct re-inspections on projects to determine if non-compliance has been corrected after an audit has been completed. OHFA will perform re-inspections on a percentage of all audits conducted.

• OHFA will continue to give an original 60-day response period when conducting audits. Beginning 1/1/2019, an additional 30-day extension will be given. if requested. Please be sure to request an extension should you need it; OHFA will not automatically provide an extension and will not automatically reach out to you to ask if you need one. After 90 days, OHFA will only give extensions for good cause (as cited in the IRS 8823 guide 2-1).

• Backdating in any form is prohibited. An example of prohibited backdating is a TIC printed on 6/1/2018 with signatures dated 5/15/18.

• OHFA’s Student Status Certification (SSC) form was updated effective 1/1/2019: the “certification date” at the top has been removed. The date that OHFA will use to satisfy compliance will be the date that the form is signed. The old form has been removed as of 1/1/2019.

• If your property has Project-Based Section 8 and is not using HUD’s model lease, you must provide OHFA with the letter from HUD approving your use of an alternative lease. 

• If your project has HOME funds and you float your HOME units, please remember to verify all HOME households in accordance with HOME regulations.

• Please remember that owners/managers are required to submit Utility Allowance Requests for approval in accordance with OHFA policy.

• OHFA does not permit quotes, bids or any other documentation of future work to be completed as a cure for non-compliance. All non-compliance must be cured within the allowable response period. An example of this can be found in the IRS 8823 guide 6-7 (example 1).

• Attend the webinar covering the Annual Owner Reporting Process on February 5 at 2:00 PM.