HOME Funded Multi-Family Projects
Once a HOME funded Multi-Family construction project is complete we must monitor for compliance during the affordability period of the project.
On-going Monitoring Requirements and Record Keeping
- Compliance with applicable property standards
- Annual Tenant Rent Roll and Occupancy
- The income and number of persons occupying HOME assisted units
- The rent levels must be consistent with the terms of the Regulatory Agreement for HOME assisted units.
- Annual Financial Reports
- Annual Audit
- Board Member Review for compliance with 1/3 Board Members meeting income and Low-Moderate income households
- Tenant Lease Agreements and HOME Rider
- Affirmative Marketing Plan
- HQS (Housing Quality Standards) Inspection
- Compliance with relocation requirements, if applicable
- Equal opportunity and fair housing practices