Compliance Monitoring for Long-Term Affordability
Most affordable housing developed, constructed, substantially rehabilitated or redeveloped with resources administered by the department have a compliance requirement to ensure the long-term affordability of those units. Procedures for this compliance can be found here, contingent upon the financing program that was used in the development, construction, rehabilitation or redevelopment of those units.
Below you will find two separate compliance manuals, each addressing specific compliance issues unique to the specific funding program(s). These two manuals are: the HOME Compliance Manual and the “State Housing Manual”. In addition, some units were financed subject to contract specific requirements and in conjunction with “other governmental financing”, for which a manual is not available. Those projects are monitored in strict compliance with those contractual requirements and the compliance obligations of the “other governmental financing”.
The HOME Compliance Manual applies to any/all affordable housing that was funded under the provisions of the federal HOME Investment Partnerships Program. The State Housing Manual is currently being revised, but a copy of the latest draft is available here. These procedures apply to all State-financed housing developed under the following Programs (Statutes): Affordable (Low Income) Housing (Sec. 8-119bb to 8-119jj); Congregate Housing for the Elderly (Sec. 8-119d to 8-1191); Rental Housing for the Elderly (Sec. 8-112a to 8-119c); Limited Equity Cooperative Housing (Sec. 8-214f to 8-214h); and Moderate Rental Housing (Sec. 8-69 to 8-76).
Owing to variations in programs, it may be necessary to review the specific contractual documents signed by the Developer for the project under review. These agreements outline the overall management requirements of the project, including specific reference to: maintenance of the project, insurance requirements, financial responsibility, tenant selection and occupancy requirements, maintenance of books and records, reporting obligations, affirmative action requirements, and establishment of bank accounts.
These documents, along with Program Regulations, and the State Housing and DECD Accounting Manuals, incorporate the specific requirements and procedures to be followed during the operational phase of the project. Department staff will provide and review these documents with the Developer to ensure a knowledge and understanding of all requirements.