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Multifamily management

Essential maintenance reminder for multifamily properties

VHFA will start requiring multifamily properties provide proof property owners/managers have filed annual compliance statements with the Vermont Department of Health regarding essential maintenance practices (EMP).

In an effort to reduce exposure to harmful lead, owners and managers must complete EMP in all rental housing built before 1978 and file annual compliance statements with the Vermont Department of Health.

HUD revises income limits, rents

The U.S. Department of Housing & Urban Development (HUD) recently updated its Section 8 Income Limits and released income limits for tax credit and tax-exempt bond projects.

One major change: HUD has eliminated its hold-harmless policy in the 2010 limits. Projects placed in service after May 14 will be affected.

VHFA Assistant Director of Multifamily Programs Kim Roy has written a memo on the changes for owners and managers of Low-Income Housing Tax Credit properties. The new limits are also attached to the memo.

Attorney General works to reduce lead in homes

bill sorrell

The Office of Vermont Attorney General Bill Sorrell (pictured) recently contacted nearly 30 landlords requesting they demonstrate compliance with Vermont's lead law.

The letters, mailed to 27 landlords in Chittenden and Washington counties, are just the latest round of requests Sorrell has sent.

HUD publishes property inspection scores online

The U.S. Department of Housing and Urban Development (HUD) has started publishing information regarding the physical condition of public housing and multifamily units.

The data can be downloaded state-by-state as PDF documents, or nationwide as a comma-delimited text file at the HUD site.

The initiative is part of President Obama's initiative of making government more open and transparent.

Updated > Subsidized housing certification application

The 2010 Subsidized Housing Certification Application (PDF) is now available for download from VHFA.

This document is required for owners/managers of subsidized housing who wish to have their buildings taxed at the lower "homestead" rate.

Deadline for the application is Feb. 22, 2010.

Multifamily managers: List your vacancies

data site logoQuick reminder that the Directory of Affordable Rental Housing (DoARH) Web site lets all managers of subsidized housing in Vermont post their vacancies for free.

Visited by hundreds of people each week, the DoARH is an easy-to-use, central location to publicize your vacancies, and it helps meet your Fair Housing posting requirements.

Budget docs available for multifamily properties

VHFA Director of Multifamily Programs Sam Falzone reminds owners and managers of VHFA-financed multifamily properties, "It's that time of year again: Summer is coming to an end, kids are headed back to school and it’s budget time."

We've placed the documents you need for your 2010 operating budgets on our Web site.

Vermont to receive $2.6 million for affordable housing

Representatives from Vermont Housing Finance Agency (VHFA), Vermont Housing & Conservation Board (VHCB) and Central Vermont Community Land Trust (CVCLT) announced Vermont will receive $2.6 million from the MacArthur Foundation.

The foundation's investment — a $600,000 grant to VHCB and a $2 million loan to VHFA — recognizes Vermont’s longstanding commitment to the preservation of rental housing.

Used in conjunction with other investments, the funding will preserve thousands of affordable apartments in Vermont over the next decade.

New documents for LIHTC property owners

We've posted online a handful of new documents for owners of Low Income Housing Tax Credit (LIHTC) properties.

In a memo being sent today, Assistant Director of Multifamily Programs Kim Roy details a number of annual obligations LIHTC property owners must meet, including submitting:

Important reminder for multifamily properties

Director of Multifamily Programs Sam Falzone reminds all owners, managers and auditors of VHFA-financed multifamily properties of the March 1 deadline for audited financial statements. Meeting the deadline this year is more important than ever, since VHFA will be using your statements to make decisions about our portfolio and to update ratings agencies prior to issuing bonds to finance affordable housing later this year.


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