reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 6 - Program Administration › Section 330:36-6-5 - Applicant and/or Owner responsibilities

Current through Vol. 41, No. 20, July 1, 2024
(a) An Applicant and/or Owner under the OAHTC
				Program shall be responsible for:
(1) Taking
				all action necessary to enforce the terms of the Regulatory Agreement against
				any private or public Owner that fails to comply with applicable provisions of
				the Regulatory Agreement or any subcontract or documents resulting from it, and
				to recover on behalf of OHFA, all costs and expenses incurred by or on behalf
				of OHFA. Nothing in this subsection shall restrict OHFA's right to
				independently enforce the terms of the Commitments made to OHFA in the
				Application and/or the Regulatory Agreement or in any subcontracts or documents
				resulting from either of them, or to recover any sums that may become due to
				OHFA as the result of a breach of any of the Commitments made to OHFA in the
				Application and/or the Regulatory Agreement, or in any such subcontracts or
				documents.
(2) Complying with all
				applicable provisions of the Code, State and federal regulations, guidelines,
				circulars, rulings and notices, these Rules, the AP, the Application, the
				Regulatory Agreement between the Applicant and/or Owner, and/or in any
				subcontracts or documents resulting from either of them, and OHFA or other
				Program requirements that may be released by the Internal Revenue Service or
				OHFA from time to time.
(3)
				Maintaining records and accounts, including, but not limited to, property,
				personnel, financial and tenant records that properly document and account for
				all Development funds and compliance with the tenant Income Certification
				requirements of the Code, these Rules, the AP, and the application and the
				Regulatory Agreement. All records required by the Code or
				26
				CFR 1.42-5, as presently effective or as may
				be amended in the future, must be kept and retained by the Owner. Additional
				requirements of OHFA respecting said records may be included in the Regulatory
				Agreement. OHFA may require specific types and forms of records. All such
				records and accounts shall be made available upon request by OHFA for the
				purpose of inspection and use in carrying out its responsibilities for
				administration of the tax Credits.
(4) Retaining all books, documents, papers,
				records, and other materials involving all activities and transactions related
				to the Owner's Commitments to OHFA found in the Application and in the
				Regulatory Agreement, as required by the Code, State and federal regulations,
				the AP, the Application and the Regulatory Agreement.
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 6 - Program Administration › Section 330:36-6-6 - RESERVED

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 18 Ok Reg
				  1003, eff 3-14-01 (emergency); Reserved at 18 Ok Reg 3055, eff
				  7-12-01
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 6 - Program Administration › Section 330:36-6-7 - OHFA monitoring procedures

Current through Vol. 41, No. 20, July 1, 2024
(a)
General.
Section 42(m)(1)(B)(iii) of the Code mandates that state housing Credit agencies monitor all Placed-In-Service tax Credit projects for compliance with the provisions of Section 42. The Code also mandates that the Internal Revenue Service be notified, by the state housing agencies, of any instances of noncompliance, this includes failure to comply with the Code and federal regulations and these Chapter 36 Rules, as well as failure to pay all compliance fees in a timely manner. OHFA will also monitor for compliance with the Regulatory Agreement provisions which contain additional Owner Commitments made to secure points in the project selection process, e.g. additional Low-Income Units or an Extended Use Period. OHFA has assembled and will make available to the Development Owners, a Compliance Manual explaining the OAHTC monitoring process in detail. An Owner representative and a management agent representative will be required to successfully complete a compliance training session conducted by OHFA or approved by OHFA and submit proof thereof with the first Quarterly report. OHFA will monitor the documents and Certifications set forth in 330:36-6-7(b) and (c)  for compliance with the Code.
(b)
Record keeping and record retention provisions.
(1) The Owner of a low-income housing project is required to keep records for each qualified low-income Building in the project showing:
(A) The total number of residential units in the Building (including the number of bedrooms and the size in square feet of each residential rental unit);
(B) The percentage of residential rental units in the Building that are Low-Income Units;
(C) The rents charged on each residential rental unit in the Building (including any utility allowances);
(D) The number of occupants in each Low-Income Unit;
(E) The Low-Income Unit vacancies in the Building and information that shows when, and to whom the next available units were rented;
(F) The initial Income Certification of each low-income tenant per unit, and any additional recertification that may be required;
(G) Documentation to support each low-income tenant's Income Certification;
(H) The Eligible Basis and qualified basis of the Building at the end of the first year of the Credit period;
(I) The character and use of the nonresidential portion of the Building included in the Building's Eligible Basis under Section 42(d) of the Code (e.g. tenant facilities that are available on a comparable basis to all tenants and for which no separate fee is charged for use of the facilities, or facilities reasonably required by the project); and
(J) Copies of all correspondence with the IRS.
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 7 - Compliance Monitoring › Section 330:36-7-1 - Code compliance monitoring [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 10 Ok Reg 3925,
				  eff 6-25-93 (emergency); Added at 11 Ok Reg 3199, eff 7-15-94; Amended at 12 Ok
				  Reg 1083, eff 4-5-95 (emergency); Amended at 13 Ok Reg 2965, eff 7-12-96;
				  Amended at 14 Ok Reg 2642, eff 6-26-97; Amended at 15 Ok Reg 1995, eff 5-26-98;
				  Revoked at 17 Ok Reg 1239, eff 10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 7 - Compliance Monitoring › Section 330:36-7-2 - Enforcement and remedies [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 10 Ok Reg 3925,
				  eff 6-25-93 (emergency); Added at 11 Ok Reg 3199, eff 7-15-94; Amended at 12 Ok
				  Reg 1083, eff 4-5-95 (emergency); Amended at 13 Ok Reg 2965, eff 7-12-96;
				  Amended at 15 Ok Reg 1995, eff 5-26-98; Revoked at 17 Ok Reg 1239, eff
				  10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 8 - Qualified Contract › Section 330:36-8-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
Pursuant to 42(h)(6) of the Code, after the end of the 14th
				  year of the Compliance Period, the Owner of a LIHTC Development can request
				  OHFA as the allocating agency to find a buyer at the Qualified Contract Price
				  (QCP). If a buyer cannot be located within one year, the Extended Use
				  Commitment will terminate. This process provides the procedures for the
				  submittal and review of the Qualified Contract requests.
Added at 23 Ok Reg 2980,
				  eff 7-13-06; Amended at 28 Ok Reg 1658, eff
				  1-1-12
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 8 - Qualified Contract › Section 330:36-8-3 - Authority

Current through Vol. 41, No. 20, July 1, 2024
In the Omnibus Budget Reconciliation Act of 1989 (1989 Act),
				  Congress modified the LIHTC Program by creating an Extended Use Period which
				  lengthened the affordability period of Credit Developments from 15 years to 30
				  years. However, the 1989 Act also provided an option for Owners to exit the
				  LIHTC Program at the end of the 15-year Compliance Period by requesting that
				  the state allocating agency either purchase the Development or assign the
				  agency's purchase right to another entity for a formula price pursuant to a
				  "Qualified Contract".
Added at 23 Ok Reg 2980,
				  eff 7-13-06; Amended at 28 Ok Reg 1658, eff
				  1-1-12
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 8 - Qualified Contract › Section 330:36-8-5 - Policies and Procedures

Current through Vol. 41, No. 20, July 1, 2024
(a) LIHTC
				Developments that received an Allocation of Credits between 1990-2018 are
				eligible to submit a Qualified Contract Preliminary Application (QCPA) after
				the end of year 14 of the Compliance Period. This is available unless the Owner
				voluntarily waives the right to a Qualified Contract in the Application.
(b) OHFA will develop a Qualified
				Contract Application (QCA) process to administer requests from eligible Owners
				for a Qualified Contract pursuant to Code Section 42(h)(6)(E)(i)(II).
(c) In keeping with the clear
				purpose of IRS Code Section 42, OHFA will resolve every case of doubt or
				interpretation in determining the Qualified Contract Price (QCP), both with
				regard to the overall process and for particular properties, in favor of a
				lower value.
Added at 23 Ok Reg 2980, eff 7-13-06; Amended at 28 Ok Reg
					 1658, eff 1-1-12; Amended at 30 Ok Reg 2003, eff
					 1-1-14
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 8 - Qualified Contract › Section 330:36-8-7 - Eligibility

Current through Vol. 41, No. 20, July 1, 2024
(a) In determining
				the eligibility of a Development with multiple Allocations or Credit periods,
				OHFA will only consider the last Allocation. Owners may not submit a QCPA or
				QCA until after the 14th year of the Compliance Period:
(1) for the last Building Placed-In-Service
				(Developments with Buildings that were Placed-In-Service in different years),
				or
(2) for the last Allocation to
				the Development or any Building therein (Developments with multiple
				Allocations).
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 8 - Qualified Contract › Section 330:36-8-9 - Three-year Period

Current through Vol. 41, No. 20, July 1, 2024
(a) If
				OHFA fails to present a Qualified Contract (QC) before the expiration of the
				1YP as described herein, the Development will remain subject to the Three-Year
				Period requirements of Code Section 42(h)(6)(E)(ii).
(b) The Three-Year Period will commence with
				the recording of a Release of the Regulatory Agreement.
(c) During the Three-Year Period the Owner
				may not evict or terminate a tenancy of an existing tenant of any Low-Income
				Unit except for good cause. During the Three-Year Period the Owner may not
				increase the Gross Rent with respect to any Low-Income Unit except as permitted
				under Section 42 of the Code.
Added at 23 Ok Reg 2980,
				  eff 7-13-06; Amended at 28 Ok Reg 1658, eff
				  1-1-12
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 8 - Qualified Contract › Section 330:36-8-11 - Qualified Contract

Current through Vol. 41, No. 20, July 1, 2024
(a) Under IRC
				§42(h)(6)(E)(i)(II), OHFA's only obligation is to present to the Owner a
				bona fide Qualified Contract to acquire the Development for the Qualified
				Contract Price. There is no requirement in the IRS Code that the prospective
				buyer actually purchase the Development. Whether or not the Owner and the
				prospective buyer execute a contract and close the transaction is beyond the
				responsibilities and control of OHFA.
(b) Presentation of a Qualified Contract by
				OHFA terminates any future possibility of terminating the Extended Use Period
				set forth in the Regulatory Agreement whether or not the Qualified Contract is
				executed and the transaction closed.
Added at 23 Ok Reg 2980, eff 7-13-06; Amended at 28 Ok Reg
					 1658, eff 1-1-12; Amended at 30 Ok Reg 2004, eff
					 1-1-14
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 9 - Procedures for Inspecting and/or Copying Public Records › Section 330:36-9-1 - Purpose [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 12 Ok Reg 1083,
				  eff 4-5-95 (emergency); Added at 13 Ok Reg 2965, eff 7-12-96; Revoked at 17 Ok
				  Reg 1239, eff 10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 9 - Procedures for Inspecting and/or Copying Public Records › Section 330:36-9-2 - Record Custodian [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 12 Ok Reg 1083,
				  eff 4-5-95 (emergency); Added at 13 Ok Reg 2965, eff 7-12-96; Revoked at 17 Ok
				  Reg 1239, eff 10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 9 - Procedures for Inspecting and/or Copying Public Records › Section 330:36-9-3 - Hours of inspection [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 12 Ok Reg 1083,
				  eff 4-5-95 (emergency); Added at 13 Ok Reg 2965, eff 7-12-96; Revoked at 17 Ok
				  Reg 1239, eff 10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 9 - Procedures for Inspecting and/or Copying Public Records › Section 330:36-9-4 - Procedures for inspection of records [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 12 Ok Reg 1083,
				  eff 4-5-95 (emergency); Added at 13 Ok Reg 2965, eff 7-12-96; Revoked at 17 Ok
				  Reg 1239, eff 10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 9 - Procedures for Inspecting and/or Copying Public Records › Section 330:36-9-5 - Procedures for copying records [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 12 Ok Reg 1083,
				  eff 4-5-95 (emergency); Added at 13 Ok Reg 2965, eff 7-12-96; Revoked at 17 Ok
				  Reg 1239, eff 10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 9 - Procedures for Inspecting and/or Copying Public Records › Section 330:36-9-6 - Copying and reproduction fees [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 12 Ok Reg 1083,
				  eff 4-5-95 (emergency); Added at 13 Ok Reg 2965, eff 7-12-96; Revoked at 17 Ok
				  Reg 1239, eff 10-1-00
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The purpose of this Subchapter is to outline OHFA's
				  procedures for implementing new funding resources specifically identified for
				  use in connection with the OAHTC Program. The American Recovery and
				  Reinvestment Act (ARRA), enacted on February 17, 2009 provides new federal
				  stimulus programs for eligible Owners of Credit Developments. The purpose of
				  this Subchapter is to outline OHFA's procedures for implementing the stimulus
				  programs of the ARRA and future programs which may be authorized and funded
				  federally or at the State level.
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff 7-1-10; Amended at 28 Ok
				  Reg 1658, eff 1-1-12
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-2 - Other Enactments of Law

Current through Vol. 41, No. 20, July 1, 2024
In the event any federal or State assistance/stimulus programs benefiting the OAHTC Program become available to the State through OHFA, OHFA shall immediately implement such procedures as OHFA deems necessary, in its sole discretion, to access these funds for the purpose of Allocating, granting, awarding, etc. to Qualified Owners of Tax Credit Developments. The process developed for the current economic stimulus programs available and future enactments of law will be consistent with the goals of the Qualified Allocation Plan (QAP), the Chapter 36 Rules, Section 42 of the Code and any relevant rules, regulations, rulings or other guidance issued by the IRS and, as relevant the regulations of the HOME Program and guidance from HUD. The Application process and procedures developed will be reviewed by OHFA through normal procedures.
Reserved at 26 Ok Reg
				  1369, eff 4-24-09 (emergency); Reserved at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-3 - Authority

Current through Vol. 41, No. 20, July 1, 2024
OHFA has been designated as the State's housing credit agency
				  responsible for the Allocation of Credits made available to the State. This
				  authority provides that OHFA shall administer any funding resources directed to
				  the OATHC Program. Both the "Tax Credits: Exchange" and the "Tax Credit
				  Assistance Program (TCAP)" sections of ARRA provide that these funds shall be
				  administered by the "State Housing Credit Agency".
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-4 - RESERVED

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 26 Ok Reg
				  1369, eff 4-24-09 (emergency); Reserved at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-5 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
Reference is made to
				  330:36-1-4 and the
				  Section 42 of the Code for any words or terms used in this
				  Subchapter.
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-6 - RESERVED

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 26 Ok Reg
				  1369, eff 4-24-09 (emergency); Reserved at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-7 - Tax Credits: Exchange

Current through Vol. 41, No. 20, July 1, 2024
(a) The ARRA provides that OHFA has the
				option of exchanging certain Credit Allocations to the State for a cash payment
				to OHFA. The cash payment received by OHFA may be used by OHFA to make ARRA
				sub-awards to selected Applicants who qualify under the QAP for a Credit
				Reservation and Allocation.
(b)
				OHFA shall develop an Application process for applying for ARRA funds. The
				Application process will be consistent with the QAP and Section 42 of the Code
				and any regulations provided by Treasury as to the use of the funds made
				available under ARRA for sub-awards.
(c) At the time of the Application for an
				ARRA sub-award, the Applicant must demonstrate a good faith effort to obtain
				investment commitments for Credits previously allocated to the Owner.
(d) The Owner of the Buildings(s) identified
				in the Carryover Allocation Agreement and/or Regulatory Agreement receiving an
				ARRA sub-award must maintain said Building(s) as Qualified Low-Income
				Building(s) during the Development Compliance Period. Failure to maintain the
				Building(s) as Qualified Low-Income Building(s) shall result in the recapture
				of the ARRA sub-award.
(e)
				Recipients of ARRA sub-awards will be required to enter into such agreements
				and documentation as OHFA, in its sole discretion, deems necessary to ensure
				that the provisions of any requirements of the U.S. Department of the Treasury,
				these Chapter 36 Rules, the Code, any relevant rules, regulations, rulings or
				other guidance issued by the IRS and terms of the ARRA sub-award are met
				throughout the Development Compliance Period. Required agreements and
				documentation may include without limitation, loan documentation, an amended
				Carryover Allocation Agreement and/or Regulatory Agreement and Owner
				guarantees.
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff 7-1-10; Amended at 28 Ok
				  Reg 1658, eff 1-1-12
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-8 - RESERVED

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 26 Ok Reg
				  1369, eff 4-24-09 (emergency); Reserved at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-9 - Tax Credit Assistance Program (TCAP)

Current through Vol. 41, No. 20, July 1, 2024
(a) The ARRA provides funds through the HOME
				Investment Partnership Program (the "HOME Program") for awards to certain
				Owners of Credit Developments. These funds have been designated Tax Credit
				Assistance Program (TCAP) by HUD.
(b) OHFA will develop an Application process
				for awarding TCAP funds to eligible Credit Development Owners. The Application
				process will be consistent with the QAP and Section 42 of the Code and any
				regulations provided by Treasury or HUD as to the use of funds made available
				under the ARRA for awards.
(c) The
				Application for the TCAP funds will include a competitive component. Evaluation
				Criteria will be developed, but will include, without limitation, a priority
				for Developments expected to be completed and Placed-In-Service by February 17,
				2012.
(d) Any Owner failing to
				expend awarded TCAP funds within the time period specified in the TCAP Award
				Agreement between the Owner and OHFA shall return the funds to OHFA for
				redistribution.
(e) Recipients of
				ARRA TCAP funds will be required to enter into such agreements and
				documentation as OHFA, in its sole discretion, deems necessary to ensure that
				the provisions of any requirements of the U.S. Department of the Treasury, HUD,
				these Chapter 36 Rules, the Code, any relevant rules, regulations, rulings or
				other guidance issued by the IRS and terms of the ARRA TCAP are met throughout
				the Development Compliance Period. Required agreements and documentation may
				include, without limitation, loan documentation, an amended Carryover
				Allocation Agreement and/or Regulatory Agreement and Owner
				guarantees.
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff 7-1-10; Amended at 28 Ok
				  Reg 1658, eff 1-1-12
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-10 - RESERVED

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 26 Ok Reg
				  1369, eff 4-24-09 (emergency); Reserved at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-11 - Asset Management

Current through Vol. 41, No. 20, July 1, 2024
(a) OHFA
				shall perform asset management functions to ensure compliance with section 42
				of the Code and the continued long term viability of Building(s) funded by
				either form of assistance identified in this Subchapter. OHFA may sub-contract
				this function to another entity (ies).
(b) Any Building(s) receiving funds pursuant
				to the Grant Program of the TCAP shall be subject to all restrictions and
				regulations of the OAHTC Program, Section 42 of the Code and, as applicable,
				the HOME Program.
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-12 - RESERVED

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 26 Ok Reg
				  1369, eff 4-24-09 (emergency); Reserved at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-13 - Fees

Current through Vol. 41, No. 20, July 1, 2024
(a) Fees will be
				calculated based on original Tax Credit award and shall comply with Subchapter
				4, Section 4-3. All Fees as set out in these Chapter 36 Rules will be due and
				payable at such times as OHFA instructs Applicants.
(b) An annual Asset Management Fee shall be
				due and payable at such times as OHFA instructs Applicants for each year of the
				Development Compliance Period. The Fee shall be subject to Oklahoma Department
				of Central Services Central Purchasing guidelines.
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-14 - RESERVED

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 26 Ok Reg
				  1369, eff 4-24-09 (emergency); Reserved at 27 Ok Reg 1812, eff
				  7-1-10
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 10 - Credit Assistance/Stimulus Legislation › Section 330:36-10-15 - Other Enactments of Law

Current through Vol. 41, No. 20, July 1, 2024
In the event additional federal or State assistance/stimulus
				  programs benefiting the OAHTC Program become available to the State through
				  OHFA, OHFA shall immediately implement such procedures as OHFA deems necessary,
				  in its sole discretion, to access these funds for the purpose of Allocating,
				  granting, awarding, etc. to Qualified Owners of Tax Credit Developments. The
				  process developed for the current economic stimulus programs available and
				  future enactments of law will be consistent with the goals of the Qualified
				  Allocation Plan (QAP), the Chapter 36 Rules, Section 42 of the Code and any
				  relevant rules, regulations, rulings or other guidance issued by the IRS and,
				  as relevant the regulations of the HOME Program and guidance from HUD. The
				  Application process and procedures developed will be reviewed by OHFA through
				  normal procedures.
Added at 26 Ok Reg 1369,
				  eff 4-24-09 (emergency); Added at 27 Ok Reg 1812, eff 7-1-10; Amended at 28 Ok
				  Reg 1658, eff 1-1-12
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 1 - General Provisions › Section 330:40-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
These Chapter 40 rules have been adopted for the purpose of
				  complying with the provisions of the Administrative Procedures Act, 75 O.S.,
				  Sections 250, et seq. The Oklahoma Housing Finance Agency ("OHFA") is
				  authorized under its Amended Trust Indenture and the Bylaws of the Oklahoma
				  Housing Finance Agency and the Oklahoma Homeless Prevention Act, 74 O.S. §
									2900 et
				  seq., to make available to local government agencies, local housing authorities
				  or nonprofit agencies, certain State funds as same are mandated by the Stewart
				  B. McKinney Homeless Assistance Act of 1987. These State funds are to be
				  utilized in providing housing or housing assistance to homeless persons or
				  families or mentally ill persons in need of housing. In furtherance thereof,
				  OHFA has adopted this Chapter 40 for the implementation of a Pilot Program
				  respecting utilization of said State funds. As funds are made available, Grants
				  will be made to local government agencies, local housing authorities or
				  nonprofit agencies to lease vacant housing units which are subject to
				  government control, which have been donated by any public or private entity, or
				  which have been purchased by any local government agency, local housing
				  authority or nonprofit agency by for use by homeless individuals or families
				  and mentally ill persons in need of housing.
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff 7-26-93; Amended
				  at 20 Ok Reg 2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 1 - General Provisions › Section 330:40-1-2 - Statutory definitions

Current through Vol. 41, No. 20, July 1, 2024
(a) The
				following term is defined in 43A O.S. §1-103: "mentally ill
				person".
(b) The following terms
				are defined in 74 O.S., §2900.1:
(1)
				"Comprehensive Case Management"
(2)
				"homeless individual or family"
(3)
				"self-sufficiency program"
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 1 - General Provisions › Section 330:40-1-4 - Compliance with Applicable Laws

Current through Vol. 41, No. 20, July 1, 2024
Applicants and Recipients must comply with all applicable
				  federal, state and local laws, rules, regulations and ordinances, including but
				  not limited to, the Oklahoma Landlord Tenant Act, the Titles VI and VII of the
				  Civil Rights Act of 1964, as amended and Title VIII of the Civil Rights Act of
				  1968, as amended. No Recipient shall discriminate on the basis of race, creed,
				  religion, national origin, ethnic background, age, sex, familial status or
				  disability or handicap in the lease, use or occupancy of any Project, or in
				  connection with the employment or application for employment of persons for the
				  operation and/or management of any Project. Applicants must execute an
				  assurance of compliance with Fair Housing Standards in a form to be provided by
				  OHFA.
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff 7-26-93; Amended
				  at 21 Ok Reg 2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 1 - General Provisions › Section 330:40-1-5 - Conflicts of interest

Current through Vol. 41, No. 20, July 1, 2024
No person who is an employee, agent, consultant, officer, or
				  elected or appointed official of any Recipient, and who exercises or has
				  exercised any functions or responsibilities with respect to assisted
				  activities, or who is in a position to participate in a decision-making process
				  or gain inside information with regard to such activities, may obtain a
				  personal or financial interest or benefit from the Pilot Program or have an
				  interest in any contract, subcontract, or agreement with respect thereto, or
				  the proceeds thereunder, either for him or herself or for those with whom he or
				  she has family or business ties, during his or her tenure or for one (1) year
				  thereafter.
Amended at 21 Ok Reg
				  2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 3 - Application Procedures › Section 330:40-3-1 - Application

Current through Vol. 41, No. 20, July 1, 2024
Applicants must utilize an Application in a form to be
				  provided by OHFA, in applying for assistance under the Pilot Program. The Staff
				  will assist Applicants in completing an Application; however, an Application
				  will not be reviewed until a complete Application, including all exhibits, is
				  filed with OHFA. Incomplete Applications will be returned to the Applicant.
				  Eligibility to participate in the Pilot Program does not mean an Applicant will
				  automatically receive funding. Each Recipient must still meet the requirements
				  set forth in this Chapter, including demonstrating a proven capacity to operate
				  and supervise the Project.
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff 7-26-93; Amended
				  at 21 Ok Reg 2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 3 - Application Procedures › Section 330:40-3-2 - Summary

Current through Vol. 41, No. 20, July 1, 2024
The Application requires a narrative description of the
				  overall proposed use of funds, a statement of objectives, the Applicant's
				  expertise in property management, the Applicant's ability to inspect and
				  monitor property, as well as the Applicant's ability to carry out the stated
				  objectives. Certifications respecting eligibility and compliance with state and
				  federal law are also required. Applicants are referred to the Application for a
				  complete description of requirements in completing the
				  Application.
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 5 - Selection Process › Section 330:40-5-1 - General

Current through Vol. 41, No. 20, July 1, 2024
Due to limited revenues available for the Pilot Program,
				  applications will be ranked for purposes of selecting Recipients. The ranking
				  criteria for the Pilot Program will address the applicant's relative capacity
				  to carry out Pilot Program activities; the applicant's ability to ensure that
				  the properties are maintained as safe and sanitary housing; the extent to which
				  the applicant will provide Comprehensive Case Management and coordinate the
				  provision of a Self-sufficiency Program and other supportive services; the
				  reasonableness and effectiveness of the Applicant's proposal; the Applicant's
				  prior experience in property management; and the Applicant's ability to monitor
				  the Project and the Property(ies).
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff 7-26-93; Amended
				  at 21 Ok Reg 2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 5 - Selection Process › Section 330:40-5-2 - Ranking criteria

Current through Vol. 41, No. 20, July 1, 2024
(a)
Threshold criteria.
To be eligible for evaluation under the
				ranking criteria set forth herein, Applications must meet each of the threshold
				criteria described below. Applications that fail to meet all threshold criteria
				will not be eligible for assistance under the Pilot Program. The threshold
				criteria are:
(1)
Form, time, and
				adequacy of the Application.
The Application must be filed in the form
				prescribed by OHFA within the time period established by OHFA.
(2)
Applicant eligibility to receive
				assistance.
The Applicant must demonstrate that it is an Authorized
				Agency.
(3)
Applicant's
				financial responsibility.
Applicants must demonstrate the financial
				ability to carry out the Project. OHFA will, in making its determination of
				financial responsibility, consider factors such as the past financial history
				of the Applicant, its current and anticipated financial outlook, the amount of
				funding that is requested by the Applicant, and Applicant's other financial
				responsibilities.
(4)
Applicant capacity.
Applicant must demonstrate that it has the
				ability to carry out activities under the Pilot Program in a successful manner.
				In making this determination, OHFA will consider the extent and quality of the
				Applicant's past experience in establishing and operating housing. OHFA also
				will consider the ability of the Applicant's personnel to perform
				administrative, managerial, and operational functions necessary to the
				successful development and operation of the Project.
(5)
Applicant legal authority.
Each applicant must:
(A) Demonstrate that it
				has legal authority to participate in the Pilot Program and to carry out
				activities in accordance with Pilot Program requirements and the requirements
				of other applicable state and federal laws; and
(B) Certify that a resolution, motion or
				similar action has been duly adopted or passed as an official act by the
				governing body of the Applicant, authorizing the submission of the Application
				Packet.
(C) Nonprofit Organizations
				must provide proof of their nonprofit status.
(6)
Case Management and Supportive
				services.
Each Applicant should include a description of its
				Comprehensive Case Management supportive services including Self-sufficiency
				Programs available for the Residents.
(7)
Proposal feasibility.
Each
				Applicant must demonstrate that its proposal, when viewed as a whole, is
				operationally feasible and adequately serves the purposes of the Pilot
				Program.
(8)
Selection of
				Property(ies).
The Applicant must identify proposed Properties at the
				time of Application. Properties identified must meet the requirements set forth
				in subchapter 9 of theses Guidelines.
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 7 - Program Requirements › Section 330:40-7-1 - General

Current through Vol. 41, No. 20, July 1, 2024
The responsibilities for compliance with these Chapter 40
				  rules will be incorporated in a Grant Agreement between OHFA and the Recipient
				  and the Certifications required in the Application.
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff
				  7-26-93
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 7 - Program Requirements › Section 330:40-7-2 - Required recipient agreements

Current through Vol. 41, No. 20, July 1, 2024
Each Recipient of funding under the Pilot Program must
				  agree:
(1) To operate the Project in
				accordance with this Subchapter.
(2) To conduct an ongoing assessment of the
				needs of the Residents of the Property(ies), and assure that any supportive
				services represented as being available in the Application are being provided
				(Comprehensive Case Management);
(3) To provide such supervision of the
				Properties to ensure the Residents are being provided safe and sanitary
				housing, and to comply with all State and local housing codes and licensing
				requirements, if any;
(4) To ensure
				that in the operation of the Project:
(A) the
				use of alcohol or the illegal manufacture, sale, distribution, use or
				possession with intent to manufacture, sell, distribute, or use of any illegal
				drug or controlled substance in or around the Property will be prohibited;
				and
(B) any Resident, any member of
				the Resident's household, or a guest or other person under the Resident's
				control who violates such prohibitions may be expelled from the
				housing;
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 7 - Program Requirements › Section 330:40-7-3 - Insurance

Current through Vol. 41, No. 20, July 1, 2024
OHFA may require that Recipients obtain and maintain a
				  comprehensive general liability policy with a broad form endorsement, or
				  similar coverage, designed to hold OHFA and the State of Oklahoma
				  harmless.
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff
				  7-26-93
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 7 - Program Requirements › Section 330:40-7-4 - Required resident agreements

Current through Vol. 41, No. 20, July 1, 2024
Each Recipient must secure an enforceable agreement, approved
				  by OHFA, from the Residents of each Property to maintain the Property and to
				  report the need for any repairs, servicing or maintenance to or related to the
				  Property to the Recipient immediately. The agreement must be in a form
				  acceptable to OHFA and must state in clear and simple terms that violation of
				  the agreement may result in termination of the agreement and eviction from the
				  Property pursuant to 41 O.S., Section 132. The Residents must also agree to
				  maintain the Property in a drug-free environment.
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 9 - Selection of Properties › Section 330:40-9-1 - Inspection

Current through Vol. 41, No. 20, July 1, 2024
Upon approval of an Application, OHFA and the Recipient will
				  inspect all proposed Properties.
Amended at 21 Ok Reg
				  2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 9 - Selection of Properties › Section 330:40-9-2 - Final approval

Current through Vol. 41, No. 20, July 1, 2024
(a)
				Applicants shall identify proposed Properties for their Project in their
				Application. Final approval by OHFA of all Project Properties is required
				before funding. Properties must meet:
(1) the
				minimum housing quality standards adopted by HUD and set forth at 24 CFR
				882.109, which housing quality standards are specifically adopted herein by
				reference; and
(2) comply with all
				state and local zoning requirements.
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 9 - Selection of Properties › Section 330:40-9-3 - Miscellaneous [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Revoked at 21 Ok Reg
				  2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 11 - Limitations › Section 330:40-11-1 - Funding

Current through Vol. 41, No. 20, July 1, 2024
An Application Packet will be rejected if the proposed budget
				  exceeds $ 3,500 per Property per year, absent a waiver by OHFA to be granted
				  only upon showing of extreme circumstances. A written waiver request and the
				  reasons therefore must accompany the Application. Further, no Project may
				  receive assistance for more than five (5) Properties.
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff 7-26-93; Amended
				  at 21 Ok Reg 2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 11 - Limitations › Section 330:40-11-2 - Eligible activities

Current through Vol. 41, No. 20, July 1, 2024
Funds received by a Recipient shall be used to guarantee
				  coverage of utility costs, repairs, insurance, property taxes and building and
				  yard maintenance of the Properties. The funds in the Pilot Program may be used
				  to provide housing assistance in conjunction with the lease of any eligible
				  Property. However, no funds received under the Pilot Program may be used for
				  repairs on Properties temporarily donated by a private entity for use
				  hereunder.
Amended at 10 Ok Reg
				  971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff 7-26-93; Amended
				  at 21 Ok Reg 2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 11 - Limitations › Section 330:40-11-3 - Ineligible activities

Current through Vol. 41, No. 20, July 1, 2024
Funds received under the Pilot Program may not be used for
				  administrative or operating expenses of the Recipient, nor to provide
				  assistance not directly related to leased Properties.
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 11 - Limitations › Section 330:40-11-4 - Term of commitment [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Revoked at 21 Ok Reg
				  2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 13 - Funding › Section 330:40-13-1 - Obligation of funds

Current through Vol. 41, No. 20, July 1, 2024
When OHFA selects an Application for funding and notifies the
				  Recipient, OHFA will obligate funds to cover the amount of the Grant and enters
				  into a Grant Agreement with the Recipient.
Amended at 21 Ok Reg
				  2295, eff 7-12-04
Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 40 - Guidelines for Housing Pilot Program › Subchapter 13 - Funding › Section 330:40-13-2 - General

Current through Vol. 41, No. 20, July 1, 2024
A Project will be funded only after the Recipient enters into
				  a Grant Agreement with OHFA. Grant Agreements will have a term of one (1) year.
				  OHFA will then turn over to the Recipient, in accordance with the final
				  approved Budget for each approved Property, a sum equal to any Rehabilitation
				  cost, initial utility deposits, if any, and utility and maintenance costs for
				  the Property for the previous month of occupancy. Subsequent funding will be on
				  a monthly or quarterly basis only, unless OHFA, in its sole discretion,
				  approves additional funding. Due to possible future reductions in State or
				  federal appropriations (or other funding), OHFA cannot guarantee the continued
				  availability of funding. In the events funds obligated to finance the Pilot
				  Program or any Grant Agreement become unavailable, either in total or in part,
				  OHFA may reduce or deobligate all or a portion of any Grant.
Amended at 21 Ok Reg
				  2295, eff 7-12-04