US Virgin Islands

US Virgin IslandsSpectrum Enterprises has just been awarded a new contract by the Virgin Islands Housing Finance Agency (VIHFA) for compliance monitoring of their Low Income Housing Tax Credit (LIHTC) and HOME investment Partnerships Program (HOME) rental properties.  We have been doing LIHTC monitoring in the islands for many years and started monitoring their HOME rental program in 2005.

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Virgin Islands Contact

Lois Churchill, Director of State Monitoring Operations
(207) 767-8000 x207 or lois.churchill1@gmail.com

News

News

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.

Virgin Islands End Of Year

USVI EOY is due 3/01/2012

  • Spectrum Status Software XML (Version 3.5.2)

    All versions up to and including 3.5.1 have an issue with entering dates in 2011 for the Building Placed in Service date and the Reporting Period (From and To) on the Property screen. If you are currently using version 3.5.1 you don’t need to download 3.5.2. It’s OK to leave the Building Placed in Service date BLANK and leave the Reporting Period set to last year. Please read the End of Year Instructions (below) for complete details especially if you’re using the XML import feature.

  • End of Year Instructions (02-16-12) (please read first)
  • EOY 2011 Letter to Owners  (sent Jan. 3, 2012) (WORD)
  • LIHTC Owner’s Certification - (WORD) (PDF)
  • LIHTC Qualified Basis Tracking Sheet - (WORD) (PDF)

Memos and Notices

Virgin Islands Compliance Manual

  • The Compliance Manual is not currently available on the web. If you wish to ask any compliance-related questions, please direct your query to Lois Churchill.

Virgin Islands Required and Recommended Forms

  • Application for Housing (PDF)
  • Certification of Zero Income (PDF)
  • Interview Checklist (PDF)
  • Recertification Update (PDF)
  • Tenant Income Certification (EXCEL)
  • Tenant Income Certification (PDF)
  • Tenant Income Certification Instructions (PDF)

Recommended LIHTC Forms:

  • Annuity Verification (PDF)
  • Asset Income Verification (PDF)
  • Authorization to Release Information (PDF)
  • Certification Worksheet (PDF)
  • Child Support or Alimony Verification (PDF)
  • Employment Income Verification (PDF)
  • Financial Aid Affidavit (PDF)
  • Investment Verification (PDF)
  • Life Insurance Verification (PDF)
  • No Change In Income Statement (PDF)
  • Pension Verification (PDF)
  • Public Assistance TANF Verification (PDF)
  • Real Estate Asset Worksheet (PDF)
  • Real Estate Verification (PDF)
  • Section 8 Income Verification (PDF)
  • Self Employment Affidavit (PDF)
  • Self-Certification of Annual Income HHFDC (PDF)
  • Social Security / SSI Verification (PDF)
  • Student Status Household Verification (PDF)
  • Student Status Household Verification Additional Use (PDF)
  • Student Verification (PDF)
  • Telephone Verification (PDF)
  • Unable to Obtain Third Party Verification (PDF)
  • Unemployed Status Affidavit (PDF)
  • Unemployment Verification (PDF)
  • Verification of Terminated Employment (PDF)
  • Veteran’s Pension Verification (PDF)

Income Limits


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State News!

2012 Income Limits Posted

The new 2012 income limits have been posted. Please use this link.

Income Limits Posted

2011 income limits, effective 5/31/11, have been published. Use this link. Please be reminded that you must have the new limits in place within 45 days - no later than 7/15/11. If your state allocating agency typically sends us more detailed limits, those will be posted once received.

Demographic Data Collection

Tax credit properties must collect demographic data on all tenants!  Be sure you’re using the newly revised Tenant Income Certification because you will have to complete the required fields when you submit your 2010 databases next year.