January 31, 2024

Columbus, Ohio

It’s That Time Again:

Be Prepared for Annual Owner Reporting


2023 Annual Owner Reports (AORs) are due March 1, 2024. Owners/Management agents are able to submit AORs now rather than waiting until March. Below are a few reminders to help prepare for AOR submissions:


  • All tenant events need to be updated in DevCo no later than the 10th of each month for the previous month in preparation for submitting your AOR. You also need to update all tenant events when you are notified of a file audit.

  • Utility Allowance (UA) information must be updated in DevCo annually. Here are instructions (Section V) on how to update your project’s UAs.

  • Make sure the necessary staff members responsible for completing the AORs have access to DevCo. Here are instructions on how to get access to the DevCo database. If you need any assistance getting access, please contact the Compliance and DevCo Help Desk.

Annual Operating Survey

Part of the reporting process for Low-Income Housing Tax Credit (LIHTC) projects includes completing the Annual Operating Survey (Excel file). The survey must be completed for each project awarded tax credits between 2007–2020 (project numbers that begin with “07” and end through “20”) that has 10 or more units. Completed surveys must be submitted to PortfolioMailbox@ohiohome.org no later than Friday, March 1, 2024. Questions regarding the Annual Operating Survey may be directed to Kevin Clark at kclark@ohiohome.org.

Updates to Several OHFA Forms

OHFA’s policy is to make any necessary changes to forms and/or policies in January and June each year. The following forms have been updated on our website:

Owners/management agents must begin using the revised forms no later than March 1, 2024. 

OHFA’s Updated Average Income Policy

OHFA’s Average Income Policy has been updated to add and clarify compliance requirements as outlined in Treasury Regulation 1.42-19. Questions regarding the updated policy should be directed to OHFA’s Compliance and DevCo Helpdesk.

Does Your Project Have 811 Program Units?

If So, File Audits Are Here!

OHFA is now scheduling file audits for all 811 program units. Owners/Management agents participating in the 811 program will receive notification letters via email 15 days in advance of the scheduled file audits beginning on January 8, 2024. 

A new 811 file audit Management Questionnaire has been added to the Compliance Forms page on our website in addition to the 811 File Audit Upload Checklist. Both of these forms can be found on our website. In the coming weeks, all 811 forms and documents for property managers will be consolidated onto this page of the website, so please check routinely for updates.

Email Compliance 811 Auditor Caitlin Milsted with any questions. 

HOTMA Guidance

OHFA continues to receive many questions regarding Housing Opportunity Through Modernization Act of 2016 (HOTMA) implementation. To reiterate guidance issued in OHFA's December 2023 Industry Message and add additional guidance: 

  • All move-in certifications and recertifications effective prior to January 1, 2025, should be conducted using pre-HOTMA rules for OHFA-funded projects or until the owner’s software is HOTMA compliant. However, OHFA will not prohibit owners from implementing all or parts of the HOTMA rule prior to 2025. 

  • If an owner decides to implement some of the HOTMA final rule (i.e., hybrid approach) regarding income and asset calculations (Sections 102 and 104) prior to January 1, 2025, an OHFA clarification record must be placed in the tenant file explaining which parts of the HOTMA final rule were used to certify the tenant. 

  • If an owner decides to implement all of the HOTMA final rules prior to January 1, 2025, an OHFA clarification record must be placed in the tenant file stating certification was conducted using HOTMA final rules.  

Importantly, OHFA will not enforce HOTMA-related file errors (i.e., will not issue 8823’s) discovered prior to January 1, 2025.

  • Owners are reminded the U.S. Department of Housing and Urban Development’s (HUD’s) new passbook rate of 0.4% was to be implemented effective January 1, 2024. OHFA’s Tenant Income Certification (TIC) has been updated to reflect the new passbook rate. Owners must use the HUD-published passbook rate when calculating imputed asset income for net family assets. This rate will change every year according to HUD. 

  • Full compliance with the HOTMA final rule is mandatory effective January 1, 2025, for all OHFA-funded projects.

  • For HUD-funded projects, multifamily housing owners will not be penalized for HOTMA-related tenant file errors during Management and Occupancy Reviews. Instead, the contract administrator will issue observations with corrective actions.

Those who are entitled to child support or alimony are no longer required to pursue the full court-ordered amount. Only amounts actually received are counted. 

Any imputed return on an asset when net family assets total $50,000 or less (which amount HUD will adjust annually per the Consumer Price Index for Urban Wage Earners and Clerical Workers) and no actual income from the net family assets can be determined is excluded from income

Nonmonetary, in-kind donations, such as food, clothing, or toiletries, received from a food bank or similar organizations are excluded from annual income. However, periodic nonmonetary contributions from family and friends that are regular and periodic continue to be included as income.

Tenant Selection Plan Mandatory HOTMA Updates for HUD-funded Projects

Owners of HUD Multifamily Housing Programs (i.e., Section 8 PBRA, Section 202, 811) and Public and Indian Housing (i.e., public housing, housing choice vouchers, project-based vouchers) must update project Tenant Selection Plans (TSPs) to reflect HOTMA requirements. TSPs must be updated by March 31, 2024, along with Enterprise Verification Income (EIV) system policies/procedures.

Here is a helpful link for the HUD-mandated updates.

Note: the HOTMA-mandated TSP updates do not apply to LIHTC-, National Housing Trust Fund-, or HOME-funded projects. While owners of these projects must have a TSP per OHFA’s Tenant Selection Plan Guidelines, HOTMA updates are not required to be incorporated into the TSP.

Stay Informed! 

Subscribe to OHFA’s Constant Contact email distribution list at Join our Email List, which allows you to receive important notifications concerning regulatory and policy changes, development updates, and much more. Please forward the subscription link to all those on your staff that may benefit from this type of information.

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