​​ CHFA eNews: Multifamily
chfa enews - multifamily loan compliance 
March 30, 2016

2016 hud limits an​​​d chfa lihtc program compliance manual updated

2016 hud limits

The US Department of Housing and Urban Development (HUD) released income limits for 2016 on March 28, 2016. We will be updating CHFA’s rent and income limit tables online by April 15th, and will send an eNews when complete.

In the meantime, to review 2016 limits for LIHTC and CHFA loan projects, visit HUD’s website at www.huduser.gov/portal/datasets/il/il2016/select_Geography_mtsp.odn or Novogradac’s rent and income limit calculator at www.novoco.com/products/rentincome.php.

To review the 2016 Section 8 limits for your county, visit HUD’s website.

chfa lihtc program compliance manual updated

CHFA’s Low Income Housing Tax Credit Program Compliance Manual has been updated as of March 2016. Please use this version for questions regarding procedures, rules, and regulations.

With the March 2016 update, the following sections were revised:
  • 1.5 Required Submissions
  • 2.17 Violence Against Women Act (VAWA)
  • 3.16 Calculating Annual Employment Income
  • 3.17 Acceptable Forms of Income Verification, paragraphs A & B only
  • 3.19 Military Pay Differences
  • 3.30 Live-in Aides
  • 3.31 Completion of the Tenant Income Certification (TIC)
  • 4.2 Management Reviews
  • 4.3 Physical Inspections
  • 4.12 Reporting and Submission Requirements
To view and access a list of the forms included in the compliance manual, please click here.

As always, please contact your Program Compliance Officer with any compliance-related questions.

chfa ​​​

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