modernizing asset management...training • policies and procedures –lihtc manual • dms •...
TRANSCRIPT
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MODERNIZING ASSET
MANAGEMENT
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Agenda
• Introductions• Contact Lookup• 2019 Compliance Guide• Training • Policies and Procedures – LIHTC Manual• DMS • Rental Assistance Program Access/Usage• Financial Process Improvements• 2017 Operating Expense Report • Ask IHDA Q/A
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Poll #1
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Introductions
Asset Management Department
Tim Veenstra, Director
Long-term compliance & operations of 1,298 properties / 131K affordable units
5 Assistant Directors & 70 staff
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Introductions
Policy, Strategy, Analytics Team
Jennifer Miller, Senior Advisor
Policies/Procedures, Training, Data/Systems, Business Development
5 staff
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Introductions
Rental Compliance Team
Patricia Williams, Assistant Director
Operational, Occupancy, & Physical Conditions: Loans/Grants & Tax Credits
3 supervisors & 32 staff
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Introductions
Rental Assistance Team
Liz Smith, Assistant Director
Program Administration for Section 8, Mod/Rehab, LTOS/RHS, SRN, Section 811
1 manager & 9 staff
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Introductions
Financial Analysis & Servicing Team
Joanne Ryan, Assistant Director
Audits, Escrows, Budgets, Loan Servicing
2 supervisors & 11 staff
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Introductions
Portfolio Risk Management Team
Steve Gladden, Assistant Director
Preservation and Workout Strategies
3 staff
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Contact Lookup
Senior Asset Manager orAsset Manager
Compliance Analyst
Physical Inspector
Financial Analyst
www.ihda.org/property-managers/
http://www.ihda.org/property-managers/
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Contact Lookup
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Poll #2
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Contact Update
New Link
http://survey.constantcontact.com/survey/a07eg40g25ejs6hgfih/a00rjslzqnq0/questions
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2019 Training Schedule
Upcoming WebinarsLIHTC Basics March 12 9:30 – 11:30 am
Student Rules March 14 9:30 – 11:00 am
Fair Housing for Maintenance March 20 9:30 – 10:30 am
Fair Housing April 10 2:00 – 4:00 pm
HOME Funds April 17 2:00 – 4:00 pm
Rental Housing Compliance April 30 10:00 – 12 noon
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Poll #3
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New LIHTC Manual
• Issued for review/comment this week
• Clarifies requirements/options for:
o8823 Filing
oStudent Rule
oAnnual Recertification
oIncome Verifications
oExisting Tenant Rule in Acquisition / Rehab
oGeneral Public Availability
oPost Year 15 Monitoring
oIncome Averaging (if permitted)
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Rental Compliance
Key Initiatives
• DMS: Online tax credit compliance portal – 80% of all properties are registered!
– Annual Owners Certification and Tenant Events
• Shift from Desk Reviews to More On-Site Reviews
• 8823 Changes in Reporting
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New 8823 Process
• Timing of filing
• Reportable non-compliance vs. imperfections
• Physical Inspection changes
• Corrections during inspection
• UPCS Level 1 Deficiencies Only
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Rental Assistance
Key Initiatives
• IL Housing Search Usage/Features
• Section 811/SRN Updates
• Re-entry Demonstration
• Preview of Panel on Rental Assistance
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New Website Design
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Financial Analysis & Servicing
Key Initiatives
• Electronic Escrows Withdrawal Requests
• Loan Confirmations
• Operating Expense Report
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2017 Operating Expense Report
Total Units
#Prop
Total Income
Total Exp
Exp/IncRatio
State of IL 37,694 543 $9,080 $6,020 66.3%
Elderly 11,444 146 $8,491 $4,590 54.1%
Non-Elderly 26,250 397 $8,166 $4,980 61.0%
City of Chicago 13,638 151 $9,580 $6,671 69.6%
Metro Chicago 4,337 54 $9,294 $4,870 52.4%
Other Metro 8,230 115 $7,336 $4,570 62.3%
Rural 7,912 137 $5,555 $3,610 65.0%
All dollars are reported as the median of the average per unit per year for FY 2017
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2017 Operating Expense Report
Total
Units
#
Prop
Total
Income
Total
Exp
Exp/Inc.
Ratio Admin Operat Maint Salary Supply Utility Taxes Ins.
State of IL 37,694 543 $9,080 $6,020 66.3% $1,280 $200 $920 $1,210 $160 $810 $820 $520
Elderly 11,444 146 $8,491 $4,590 54.1% $1,021 $128 $672 $923 $91 $693 $714 $345
Non-Elderly 26,250 397 $8,166 $4,980 61.0% $1,150 $153 $773 $981 $79 $756 $598 $490
City of Chicago 13,638 151 $9,580 $6,671 69.6% $1,413 $195 $1,106 $1,464 $123 $1,059 $775 $536
Elderly 2,716 26 $9,123 $5,120 56.1% $1,010 $128 $787 $951 $115 $755 $1,012 $362
Non-Elderly 10,922 125 $9,785 $6,270 64.1% $1,741 $168 $682 $1,490 $122 $811 $700 $552
Metro Chicago 4,337 54 $9,294 $4,870 52.4% $1,045 $123 $685 $975 $62 $613 $958 $409
Elderly 1,802 27 $9,125 $4,910 53.8% $1,080 $138 $625 $919 $78 $585 $1,135 $345
Non-Elderly 2,535 27 $10,098 $4,900 48.5% $1,018 $100 $738 $1,007 $46 $653 $821 $520
Other Metro 8,230 115 $7,336 $4,570 62.3% $1,055 $133 $734 $859 $54 $687 $600 $447
Elderly 2,351 21 $8,399 $4,470 53.2% $1,083 $72 $528 $827 $92 $707 $824 $334
Non-Elderly 5,879 94 $7,284 $4,530 62.2% $1,034 $149 $741 $863 $46 $678 $569 $451
Rural 7,912 137 $5,555 $3,610 65.0% $880 $136 $464 $709 $72 $477 $490 $377
Elderly 2,014 35 $5,028 $3,270 65.0% $864 $137 $391 $553 $77 $518 $425 $308
Non-Elderly 5,898 102 $5,704 $3,730 65.4% $887 $135 $486 $754 $67 $466 $491 $440
All dollars are reported as the median of the average per unit per year for FY 2017
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Poll #4
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ASK IHDA Q/A
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THANK YOU!