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 Annual Certification of Continuing Program Compliance (Exhibit K) and the Annual Occupancy Report (Exhibit H) must be provided (in hard copy format) no later than close of business on March 31.

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. (See Sec. 3.16 of the HOME Rental Housing Program Compliance Manual.)

Annual reporting for HOME Program properties with LIHTC is required to be done through the Certification On-Line (COL) System in accordance with the Seasonal Reporting Schedule which is based on the Placed-In-Service dates. The original, executed copy of the Exhibit K must still be provided in the hard copy format along with the current utility allowance. Utilize Exhibits L and J for COL access.