Monitoring

We are committed to helping AHP recipients succeed, therefore prior to project completion, we require semi-annual reports that show the progress of the project.

 

2017 Projects and Newer – submit documentation via AHP Online: Click here to access the AHP Online User Guide-Semi-Annual Reporting.

 

Owner Occupied Project Monitoring
All projects are required to complete Initial Monitoring (IM) within 18 months of notifying FHLBank of project completion. Project completion is defined in the Affordable Housing Program Implementation Plan (IP).

Staff will conduct a final review of the project commitments and requirements. To document completion of the IM process, the project member must submit a certification to support the following:

 

  1. Satisfactory progress has been made toward occupancy by eligible households,
  2. AHP subsidy was used for eligible purposes according to the commitments made in the AHP Agreement,
  3. Household incomes comply with the income targeting commitments made in the AHP Agreement,
  4. Project’s actual costs were reasonable in accordance with FHLBank’s Project Cost Guidelines,
  5. AHP subsidy was necessary for project completion as currently structured,
  6. Commitments in the AHP Agreement have been provided in connection with the project, 
  7. Each AHP-assisted unit is subject to AHP retention agreement as required by Regulations.
     

FHLBank will notify the project member and sponsor of receipt of the certification which completes the IM process.

 

Rental Project Monitoring

All projects are required to complete Initial Monitoring (IM) within 18 months of notifying FHLBank Topeka of project completion. Project completion is defined in the Affordable Housing Program Implementation Plan (IP).

During the IM process, the project is reviewed for compliance of three categories:

  1. Tenant- projects will need to submit documentation to verify income, targeting and rent affordability for randomly selected tenants. Read more.
     

  2. Commitments-verification of scoring commitments agreed to in the AHP Agreement or most recent modification, and documentation that show commitments were completed. Read more.
     

  3. Feasibility-this includes completing a feasibility workbook that demonstrates a need for the AHP subsidy and project viability. In addition, documentation that the AHP funds were transferred from the member to the project, and final retention documentation. Read more.

If the project will be monitored by a tax credit allocating agency, monitoring requirements are satisfied with Initial Monitoring. Projects that did not receive Low Income Housing Tax Credits (LIHTC) will be monitored on an annual basis with tenant files due on a set schedule. This is referred to as Long Term Monitoring (LTM). For information on the LTM process, click here

 

 

 

Address:

500 SW Wanamaker Road
Topeka, KS 66606

Phone:

785.233.0507

Share:

     
 

© 2018 FHLBank Topeka | Please see legal disclaimer. | Sitemap