Special Edition

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NCHFA Staff Programs Funding Sources File Reviews Physical Inspections Team A Team B

NCHFA Staff Question for 5 Points Who do you contact if you have a question about NCHFA Compliance workshops? Show Answer

NCHFA Staff Answer for 5 Points Karen Williams Back to Board

NCHFA Staff Question for 10 Points If you have a question about a Key tenant’s file or payment request, who do you call? Show Answer

NCHFA Staff Answer for 10 Points Linda Summa or Sandy Harris Back to Board

NCHFA Staff Question for 15 Points Who do I contact if I have a question about Utility Allowances (process or approval)? Show Answer

NCHFA Staff Answer for 15 Points Tanya Clark Back to Board

NCHFA Staff Question for 20 Points Who do I contact if I have a question about Rent Increases (process or approval)? Show Answer

NCHFA Staff Answer for 20 Points Sandy Harris Back to Board

NCHFA Staff Question for 25 Points Who do I contact with questions about findings on a file review or physical inspection? Show Answer

NCHFA Staff Answer for 25 Points The staff person who conducted the review Back to Board

Programs Question for 5 Points What is the primary program used for the production of affordable rental housing? Show Answer

Programs Answer for 5 Points LIHC Low Income Housing Credits, aka: Tax Credits Back to Board

Programs Question for 10 Points What is the program designed to provide gap financing on affordable rental properties? Show Answer

Programs Answer for 10 Points RPP Rental Production Program Back to Board

Programs Question for 15 Points What is the newest program used to replace the state tax credit program? Show Answer

Programs Answer for 15 Points WHLP Workforce Housing Loan Program Back to Board

Programs Question for 20 Points What is the program designed to provide housing for special needs populations? Show Answer

Programs Answer for 20 Points SHDP Supportive Housing Development Program Back to Board

Programs Question for 25 Points What is the name of the program that a tenant must participate in to receive rental assistance from NCHFA? Show Answer

Programs Answer for 25 Points DHHS Targeting Program Back to Board

Funding Sources Question for 5 Points How does a developer convert LIHC into funds that can be used to build affordable housing? Show Answer

Funding Sources Answer for 5 Points Investors purchase the credits up front to use on their future tax returns Back to Board

Funding Sources Question for 10 Points What agency determines whether tax credits are recaptured as a result of noncompliance? Show Answer

Funding Sources Answer for 10 Points IRS Internal Revenue Service Back to Board

Funding Sources Question for 15 Points If a property is financed with this funding source, it will receive tax credits without having to compete. What is this source? Show Answer

Funding Sources Answer for 15 Points Tax Exempt Bonds Back to Board

Funding Sources Question for 20 Points What is North Carolina’s only state-funded and state-designed resource for affordable housing? Show Answer

Funding Sources Answer for 20 Points HTF Housing Trust Fund Back to Board

Show Answer Funding Sources Question for 25 Points What federal funding is provided to states, counties and cities to produce affordable housing?

Back to Board Funding Sources Answer for 25 Points HOME

File Reviews Question for 5 Points If you find noncompliance and fix it before we send our notification letter, will it be reported to the IRS? Show Answer

File Reviews Answer for 5 Points No Back to Board

File Reviews Question for 10 Points What is the name of the system that NCHFA requires tenant files to be uploaded in? Show Answer

File Reviews Answer for 10 Points RCRS Rental Compliance Reporting System Back to Board

File Reviews Question for 15 Points How often does the utility allowance need to be updated? Show Answer

File Reviews Answer for 15 Points Every Year! Don’t forget to upload into RCRS, even if approved by HUD or RD Back to Board

File Reviews Question for 20 Points What are the 3 types of findings you can have during a File Review (or Physical Inspection)? Show Answer

File Reviews Answer for 20 Points 1)Noncompliance 2)Concern 3)Observation Back to Board

File Reviews Question for 25 Points Name the five staff members who conduct tenant file reviews. Show Answer

File Reviews Answer for 25 Points Lisa Alston, Deborah Simmons, Lisa White, Amy Barnes, and Theresa McSorley Back to Board

Physical Inspections Question for 5 Points What is the inspection standard used by NCHFA Staff when inspecting your property? Show Answer

Physical Inspections Answer for 5 Points UPCS Uniform Physical Conditions Standards Back to Board

Physical Inspections Question for 10 Points True or False NCHFA staff will inspect the unit even if mgmt does not go in. Show Answer

Physical Inspections Answer for 10 Points False NCHFA staff are not allowed to be in the unit without an escort Back to Board

Physical Inspections Question for 15 Points True or False: NCHFA will allow all noncompliance items to be repaired to avoid having a ‘finding’. Show Answer

Physical Inspections Answer for 15 Points False Staff will allow “1” item to be fixed, if it can be fixed quickly, but it will be listed as an observation Back to Board

Physical Inspections Question for 20 Points The tenant changed the locks to the apartment and NCHFA staff can’t enter the unit to inspect. Is this noncompliance? Show Answer

Physical Inspections Answer for 20 Points Yes. Another unit will be chosen to replace this one, but this one will be listed out of compliance. Back to Board

Physical Inspections Question for 25 Points Name the five NCHFA staff who conduct physical inspections. Show Answer

Physical Inspections Answer for 25 Points Denise Brooks, Louise Gardner, Carlos McLeod, Vickie Spencer, and Russ Griffin Back to Board

Show Question

“Big Points” Question What are the current requirements to manage properties financed by NCHFA? Show Answer

Big Points Answer for Big Points The management agent must have at least: a)have at least one similar property, & b)be requesting Key Program assistance timely and accurately (if applicable), & c)be reporting in RCRS timely and accurately, & d)have at least one staff person in a supervisory capacity who has attended at least one Agency sponsored training within the past 12 months, & e)have at least one staff person serving in a supervisory capacity who has been certified as a tax credit compliance specialist. (see Appendix C) None of the persons or entities serving as management agent may have in their portfolio a project with material or uncorrected non-compliance beyond the cure period unless there is a plan of action to address the issue(s). Back to Board

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