Harold Tucker, Spectrum Compliance Analyst
(207)767-8000 x211 or htucker@spectrumlihtc.com
George Rapp, CHFA Senior Asset Manager
(860)571-7265 or george.rapp@chfa.org
Pat Gribko, CHFA Asset Management Technician
(860)571-4256 or pat.gribko@chfa.org
Compliance Manual
Cover (PDF)
CHFA Introduction (PDF)
CHFA Disclaimer (PDF)
CHFA Documents (PDF)
Table of Contents (PDF)
1. Introduction to the Manual (PDF)
2. Compliance Issues (PDF)
3. Determining Tenant Eligibility (PDF)
4. Recordkeeping & Retention (PDF)
5. Noncompliance (PDF)
6. Forms (PDF)
7. Compliance Monitoring (PDF)
8. General Explanation of the Tax Reform Act of 1986 – Blue Book (PDF)
9. IRS Section 42 (PDF)
10. IRS form 8609 with instructions (PDF)
11. IRS final regulations (PDF)
12. IRS revenue ruling 90-89 (PDF)
13. IRS revenue ruling 92-61 (PDF)
14. IRS revenue ruling 94-57 (PDF)
15. IRS revenue procedure 94-57 (PDF)
16. IRS revenue procedure 94-64 (PDF)
17. IRS revenue procedure 94-65 (PDF)
18. IRS notice 88-80 (PDF)
19. IRS advance notice 88-116 (PDF)
20. IRS form 8586; IRS form 8611; IRS form 8823 (PDF)
21. IRS 26 CFR part1 (PDF)
22. HUD 4350.3 REV-1 appendix 3 acceptable forms of verification (PDF)
23. HUD 4350.3 REV-1 chapter 5 determining income calculating and rent (PDF)
24. HUD 4350.3 REV-1 appendix 15 verification and consent (PDF)
25. IRS memo 200137028 (PDF)
26. IRS section 42-5 regulations (PDF)
With passage of the HR 3221, HUD is required to gather demographic information for LIHTC properties. It is optional on tenants’ past but management must make a ‘best guess’ if not provided. Please begin using this TIC immediately.
CHFA has established a policy regarding how properties will be monitored and consequences for noncompliance during the Extended Use Period. The purpose of this policy is to ensure compliance with the Extended Low-Income Housing Commitment (ELIHC).
All End of Year Documentation must continue to be submitted annually. This includes the End Of Year Database, Post 15 Year Owner Certification, and Utility Allowance. Please refer to the Policy below for more details. The documents below serve as Connecticut Housing Finance Authority’s Post Year-15 Compliance Monitoring Policy
- All end of year materials due April 1st, 2011.
- Spectrum EOY Software XML (Version 3.5.1)
- EOY Instructions (Please read first) (PDF)
- Post Year 15 Compliance Monitoring Policy(PDF) (WORD)
- Post Year 15 Owners Certification (WORD) (PDF)
LOW-INCOME HOUSING TAX CREDIT
INCOME LIMIT DISCLAIMER
These materials are intended to assist owners in meeting the requirements for complying with Internal Revenue Code Section 42 and Section 1.42-5 of the Regulations thereunder. However, it is important to note that compliance with IRC 42 and the Regulations is solely the responsibility of the owner of the building for which the Low-Income Housing Tax Credit is allowable, and the owner is solely responsible for the consequences of any non-compliance. CHFA shall not be liable for any loss or damage caused by any inaccuracies in the information contained herein, and suggest you review such information for accuracy prior to implementation.
Welcome to the Spectrum Enterprises Connecticut site. As the State Agency for Connecticut LIHTC monitoring we hope our website will help you find the resources you need. Spectrum maintains a complete understanding of the monitoring requirements, methods and procedures required by the state of Connecticut. Below you will find helpful links to contacts, end of year reporting, compliance questions, required forms and more. If you have any questions please do not hesitate to contact us.