Compliance

Diamond & Associates’ commitment to affordable housing does not end at the settlement table. We understand that managing affordable housing units is a demanding full-time pursuit, and that very specific skills and knowledge of legal requirements are needed to do the job properly. To help our clients comply with the complicated legal requirements, we offer problem-solving and advisory services regarding Low Income Housing Tax Credit and HOME/CDBG programs compliance issues.

Our staff member Andi Sheaffer is a certified Low Income Housing Tax Credit compliance professional, with designation from the National Affordable Housing Management Association as a Certified Professional of Occupancy, and a member of the National Compliance Professional Membership Group with a designation as a National Compliance Professional.

What does this mean for you?
Diamond & Associates will:

  • Provide training for your staff.
  • Review and sign-off on the eligibility of resident move–ins.
  • Review and sign-off on the re-certifications of residents for eligibility purposes.
  • Assist you in preparing and submitting tax credit program annual reports to the relevant Housing Finance Agency.
  • Assist you in preparing a file audit checklist for staff prior to inspections.
  • Inform you of changes in compliance regulations.
  • Determine and outline the time frame for the annual recertification process.
  • Attend the relevant Housing Finance Agency inspections at your request.
  • Assist you in responding to your receipt of a 90-day notice of non-compliance IRS 8823 form.
  • Provide you with general advice and guidance on compliance issues.

Andi and our staff can train and advise property management staff in the intricacies of HUD’s rules and regulations as they apply to developers of Affordable Housing.

Our clients have come to rely on us to help them with ongoing tax credit compliance services. Click here to receive more information on how we may help you.