What you’ll learn:
- An overview of the blended program
You will receive a thorough overview of the basic mechanics of all three programs to begin the blended discussion. Learn about program design and administration, affordability periods, source of funds, eligibility requirements and key compliance documents in order to better understand them in a blended context. Students are introduced to the Compliance and Management Matrix and a case study that will help them understand how the fundamentals work in a real-life scenario.
- Preparing for and renting the units – beware of the compliance gaps.
While there are areas where the HUD, Tax Credit, and HOME rules are identical or complement each other, there are also instances of conflict. It is the conflicting areas that threaten to create compliance gaps. You will learn how to manage your way through these difficulties by delving into issues such as Fair Housing law, tenant selection plans, and leases. In addition, we will tackle the challenges of determining household income, making student eligibility determinations, conducting proper verifications, and setting rents between the programs to master management of blended tenant eligibility. This section of the course deals with the eligibility discrepancies between programs and gives a great opportunity to fine-tune your decision-making capabilities when qualifying applicants for these properties.
- Managing the unit mix and maintaining compliance
Two of the most significant challenges at blended properties are achieving the correct unit mix and maintaining compliance. You will learn the nuances of ongoing eligibility including annual and interim recertification requirements, HUD’s Enterprise Income Verification (EIV) requirements, and how to deal with household status changes after initial certification.
It’s difficult to keep a clear head and respond professionally during an audit – unless you are well-prepared before the audit hits. With BOS, you will also know what to expect when your blended property is audited by multiple regulatory entities and how to respond to findings professionally.
Regardless of the program type, being out of compliance can cost time and money. By the conclusion of this course, you will have the compliance strategy skills needed to successfully save both at their blended properties.
Special note – a Prerequisite is Necessary
BOS is an advanced course that focuses on the management of multiple compliance-related functions. For this reason, COS or TCS certification or its equivalent is required for registration.