November 20, 2023

OHFA-Sponsored NSPIRE Training

January 18, 2024 (9 a.m. - 4 p.m.)

The Ohio Housing Finance Agency (OHFA) and Ohio Capital Corporation for Housing (OCCH) is proud to sponsor a US Housing Consultants in-person National Standards for the Physical Inspections of Real Estate (NSPIRE) training. Whether you're managing a U.S. Department of Housing and Urban Development (HUD) or Low-Income Housing Tax Credit program (LIHTC) property, NSPIRE is now the universal inspection standard. USHC is offering a first-of-its-kind comprehensive NSPIRE certification course for all funding programs and applications. US Housing Consultants offers you a thorough analysis of every NSPIRE standard and how to recognize deficiencies, conduct inspections, and understand the operational implications of the change to NSPIRE.

Registration is now open.

Use Discount Code OHFA24NSPIRE for the early bird rate which ends December 19, 2023 and then the regular rate begins. Seating is limited so don’t miss out! 

Contact Betsy Krieger at bkrieger@ohiohome.org with questions or problems with registration. 

New HUD Passbook Rate

HUD’s Housing Opportunity Through Modernization Act of 2016 (HOTMA) Notice PIH 2023-27 (Section F.5, pages 54-55) changes the passbook rate effective January 1, 2024. The new rate will be 0.40% and will change every year. This applies to Public and Indian Housing (PIH) and Multifamily Housing (MFH) programs, including the LIHTC, HOME and NHTF programs. 

MFH owners/management agents must use the new passbook rate when calculating imputed asset income for net family assets for qualifications on or after January 1, 2024. OHFA is currently working on updating the OHFA Tenant Income Certification (TIC) to reflect this new rate. Questions should be directed to OHFA's Helpdesk. 

OHFA’s Tenant Selection Plan (TSP) Guidelines

Owners/Management agents are reminded that a project’s Tenant Selection Plan (TSP) must be compliant with OHFA’s Tenant Selection Plan Guidelines. Compliance with the mandatory elements listed in the TSP Guidelines is a requirement for all projects funded by OHFA. TSPs will be reviewed as part of OHFA’s Compliance Next Steps (CNS) Process for projects initially placed in service and when OHFA auditors conduct file audits. Importantly, owners/property management agents must update TSPs by March 31, 2024, to reflect the HOTMA rule as instructed by HUD’s MFH Office Notice PIH 2023-27. OHFA will provide additional guidance on updating TSPs within the next several months.  

811 File Audits Are Coming!

Beginning January 2024, OHFA will schedule file audits for all 811 program units. Owners/Management agents will receive a notification letter 15 days in advance of the scheduled audits. Audits will be conducted via file uploads into DevCo. Information on which documents will be reviewed may be found in this checklist. The checklist is subject to change and lists only required audit documents. The checklist should not be used as a tenant file checklist. 

Please refer to this guide as a refresher course on how to upload documents.

Email Compliance 811 Auditor Caitlin Milsted with any questions.

Uploading Tenant Files in OHFA Inspection - Important Reminder

 OHFA auditors continue to find that owners/property management agents are incorrectly uploading tenant files. Owners/Property management agents must: 

• Upload only what is asked for and only one file at a time.
• Label each file you upload with the BIN# and Unit #.
• Once the required files are uploaded, send an email to the OHFA auditor assigned to the project letting him/her know that the files have all been uploaded. Please ensure the project name and project number is notated in the subject line of the email.

Failure to follow these instructions may result in uploads being rejected by the auditors.

Stay Informed! 

Subscribe to OHFA’s Constant Contact email distribution list at Join our Email List, which allows you to receive important notifications concerning regulatory and policy changes, development updates, and much more. Please forward the subscription link to all those on your staff that may benefit from this type of information.