1. 2017 AHMA Conference
Mini-Case Studies

2. DOUBLE CHECK!!! The 2 most important Certifications
Move In Certification
First Annual Re-Certification
Review Move In Cert at 1st Recertification
Compare and evaluate
Question Inconsistencies
Document file with explanation of outcome

3. Case Study #1 Application for Move In to a new tax credit property
60% Income Limit = $30,420

5. What about Social Security benefits?
1,285
6/1/16
n/a 40 x
Income:
Pension - $1,285 x 12 = $15,420
Merrill Lynch - $1,000 x 12 = $12,000
What about Social Security benefits?
Assets:
Checking - Need 6 month average
Savings - $7,199.84; interest rate?
Estimated Earnings 1.44 x 12 = $17.28
Money Market - $22,669.66; interest rate?
Estimated Earnings x 12 =
Income limit = $30,420; Qualify?

6. Case Study #2
2016 MI REA X

7. Case Study #2 – Cont. 2017 1st Re-Certification REA X
Second Household Member
Airline Pilot
7/1/1990
80,000 X
66,660
1/1/16
10/31/16 10
N/A 40
1. Is there an issue?
2. What should we do?

8. Case Study #3 QUESTION: How do we calculate this income?
Move In Tenant just started a new job as an on-call worker. VOE from employer states “0-40 hours per week”. Further clarification with employer states “Hours per week dependent upon the acceptance of on-call assignments by employee.” Employee also has another full time job, which will limit the tenant’s acceptance of on-call assignment hours.
QUESTION:
How do we calculate this income?
RESPONSE:
The Owner may want to practice due diligence and obtain more information from the resident. Possibly a written statement from the resident. Possibly wait another pay period or two and obtain pay stubs to determine an average amount of hours the Tenant is working.

9. Case Study #4
Property has been approved for an alternate utility allowance. The annual review is due each January. The review was not done until April and the utility allowances went up for each bedroom size. The property rents were at the limit with the old utility allowances. What do we need to do?
QUESTION:
What happens if a resident is overcharged rent?
RESPONSE:
Overcharging rent constitutes non-compliance. The Commission will ask that you refund the overage to the residents and provide documentation of the refunds. If the rent charged exceeded the limit at the Federal set-aside or and the property is within the initial 15 year period, an 8823 is required to be issued to the IRS. It is our understanding that the IRS will consider the unit out of compliance for the entire credit year even if overcharged only one month and the overage is refunded.

10. Case Study #5 QUESTION: What should you count?
Current Support: 76 x 12 = 912
Payments in last 12 months:
1, ( arrears)
Most recent payments:
100 x 26 = 2,600 ( ,688)
Only 1,432 in arrears left, so max would be ,432 or 2,344
RESPONSE:
The most conservative approach is to count the highest possible payment. We will accept payments in last 12 months.

11. Feel free to call your Portfolio Analyst with any questions!