Interest Rates LHFA's: HOME/MRB: 4.85%
Low-Rate: 5.95% Assisted: 6.3%
Teachers': 6.25%  
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Compliance
Compliance

The Compliance Division serves as the monitoring agency for LHFA. The staff monitors properties financed with housing tax credits, HOME funds, Section 8, as well as Federal Deposit Insurance Corporation projects. The Compliance Division ensures the long-term preservation of affordable housing and ensures that federal laws and LHFA requirements are followed. To achieve these objectives, the Compliance staff employs a training, education, and technical assistance approach with its owner and property manager partners.

Federal regulations require all properties to be inspected. The frequency of inspections is dictated by the project's source(s) of funding. In addition to site inspections, the staff also reviews tenant files to ensure program requirements are met. The staff receives and reviews annual compliance certifications and submissions due every year on February 15th.

Compliance training is required for the receipt of IRS forms 8609 and the release of HOME funds. Throughout the year, LHFA staff conducts training sessions that assist owners and managing agents of rental properties in maintaining compliance with the federal regulations and state requirements that govern their properties.

Agency training emphasizes specific state interpretations and uniform minimum procedures based on our monitoring experiences. We recommend that new supervisors, on-site managers and leasing personnel, experienced staff seeking a program update and persons responsible for completing LHFA reports attend our training. Training by nationally recognized trainers, several of whom offer tax credit certification designations, is also acceptable.


Assistance is available on an equal basis regardless of race, color, familial status, national origin, religion, sex or handicap.

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