HOME Program Compliance

The Asset Management Department is responsible for ensuring the ongoing compliance of rental housing that has been financed by MHDC using federal HOME funds. This includes ensuring that the owners of such housing are complying with the income limits, rent restrictions, physical condition standards and other compliance issues specified by federal HOME guidelines to meet the housing needs of low and very low income Missouri households.

MHDC’s Asset Management Department is responsible for promoting the financial health of participating properties by monitoring and enforcing the compliance of program requirements as outlined in the Regulatory Agreement for the HOME and/or MHDC Fund Balance properties.  The sections identified below will provide further details regarding MHDC’s policies and procedures.  Each section will include instructions, required forms, frequently asked questions, and explanation of MHDC policy.

The annual reporting requirements for rental housing financed through federal HOME financing differ from the requirements of a property financed with both HOME and Low Income Housing Tax Credits (LIHTC).

For properties financed with HOME funds without Low Income Housing Tax Credits, the Certification of Continuing Program Compliance HOME Program (Exhibit K) and the Annual Occupancy Reports for Non-Internet Reporting (Exhibit H) must be provided no later than close of business on March 31. If the document is not part of an Ownership Change/Transfer of Physical Assets (TPA), please complete and submit the form via upload in MHDC’s Asset Management Reporting System AMRS.

In addition, an accurate utility allowance is required to be updated and submitted to MHDC on an annual basis in conjunction with these annual reports. (For reference, see Chapter 5 of the MHDC HOME Manual.)

If the property also participates in the LIHTC Program, the information compiled on the Exhibit H must be submitted through the Certification Portal (CP) system utilizing the seasonal reporting schedule . In this instance, only the signed Exhibit K must be uploaded into AMRS, no later than the last day of the month following the CP submission.

• MHDC HOME Manual