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HOTMA Clarification
As a reminder, HOTMA is delayed until 7/1/25. However, HUD required the Tenant Selection Plan and EIV Policies and Procedures be updated to comply with the provisions of HOTMA by May 31, 2024.
During an MOR, KHRC will be looking for 2 Tenant Selection Plans (TSP) and 2 EIV Policies and Procedures. Both versions of each policy will be reviewed.
- The first version of each will not contain any provisions of HOTMA as management must continue using these versions until HOTMA goes live.
- Management must also have a TSP and EIV Policies and Procedures that incorporate the provisions of HOTMA. These must be set aside until HOTMA goes live.
- If you have updated your current policies, but did not save the pre-HOTMA versions, you will need to find a way to recreate or retrieve them.
HOTMA Update
HUD issued draft versions of the HOTMA-compliant leases and forms for review. The forms have not been officially issued, but it does mean HUD is inching closer to going live with HOTMA. As of now HOTMA goes live 7/1/2025, all certifications effective on or after 7/1/2025 must be HOTMA-compliant. That means in March when you begin processing your July certifications you must apply the HOTMA provisions. HUD is hoping to have the forms approved and officially issued and the software specifications to the vendors.
Please NOTE: LIHTC-only properties should continue implementing HOTMA changes based on the 1/1/2024 LIHTC compliance manual update.
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