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Every year, owners and managers of affordable rental housing funded through Kentucky Housing Corporation (KHC) are asked to prepare and submit an Annual Performance Reporting (APR) packet by April 01 for the previous calendar year.

To decrease costs for partners and KHC, the Owner's Annual Certification of Compliance, tenant data and Annual Operating Expense/Income Information is required to be submitted through KHC's Tenant Data Certification System (TDCS).

The electronic submission affects all affordable rental housing programs that are required to submit annual performance reports to Kentucky Housing's Compliance Department. This includes projects allocated Housing Credits and funding from the Section 1602, TCAP, Risk-Sharing, HOME Investment Partnerships, National Housing Trust Fund, Small Multifamily Affordable Loan programs and Affordable Housing Trust Fund and RHS 515 and RHS 538.

KHC no longer requires an Electronic Signature Authorization Form to be submitted to the compliance department. Current Electronic Signature Authorization Forms must be maintained at the project/management office. KHC compliance officers will be auditing the form during annual monitoring visit.

The form can be located by access the KHC website

1. Click Compliance
2. Click Annual Performance Reporting Tools
3. Click Electronic Signature Authorization Form

TDCS Marketing Demand - NEW item

Starting with the 2017 Owner's Annual Certification of Compliance we will capture the property management company's opinion on the current marketing demand for the property. There are four options and one selection is required for the submission of the certification.

1. Select year and Complete questionnaire for each funding source.
2. Click save.
3. Review answers before submitting.
4. Click Submit.

Once information is submitted, no additional entries can be made.

Please ensure all current tenant information is up to date for each household in the TDCS system and the Building Status Report is current.

If changes need to be made after submission, please contact the Multifamily Compliance and Asset Management department by email; toll-free in Kentucky at (800) 633-8896; or TTY 711.

Please be advised that all Annual Certifications for each Funding Source associated with the project must be completed along with the Operating Expense/Income & Rental Rate Information prior to submission to KHC. Any certifications electronically submitted with missing or incorrect documentation will be considered late and may be subject to a late fee.

Operating Expenses/Income are required to be submitted before the owner certification forms can be submitted.

Operating Expense/Income for reporting year

1. Select year.
2. Select Annual for reporting period.
3. Complete each section for project expenses/income.
4. Click submit.

Additional Financial Instructions:

Once you have entered your financial information the system allows you to attach supporting documentation. All; Risk Sharing, TCAP, Exchange (TCEP), and Recovery Kentucky projects are required to attach their audits. Projects with KHC surplus cash loans are required to attach financials as required per their loan agreements. While not required, all other projects are encouraged to attach a copy of the financial statement used in completing this section of the APR.

Current Year Budget:

1. Select year
2. Select Budget for reporting period
3. Complete each section for budgeted expenses/income
4. Click submit

The budget report is no longer required unless requested by KHC staff.

If changes need to be made after submission, please contact the Multifamily Compliance and Asset Management department by email; toll-free in Kentucky at (800) 633-8896; or TTY 711.

To avoid late fees, please ensure all items are correct and completed prior to submission. Once you have submitted the APR report, exit the TDCS system, log back in to confirm the report was submitted. For confirmation, please note, under the Annual Certification tab you will see the date, time and name of the person that submitted the report. This is conformation that your report was submitted.

Online Invoice & Payment:

1. Click the Online Bill Pay tab.
2. Select fees to be paid.
3. Click Print Invoice to generate an invoice for your records.
4. Click Pay Now and complete billing information.
5. Click Next and complete payment information.
6. Click Submit Payment.

Checks will no longer be accepted without prior written consent from KHC. Request for submission of a check will need to be submitted to the Multifamily Compliance and Asset Management department by email and would need to be requested and approved prior to April 1st deadline in order to avoid late fees. Should this request be approved there will be a check processing fee of $25.00 per check to be added with the APR fees. When submitting check for payment, you must include the printed invoice from TDCS.

Electronic Signature Authorization Form - No Additional Paper or Data Entry Fee Applies

A copy must be maintained at the project/management company office.

Electronic Submission (PDF format)

Current Management Agreement (if applicable) - No Additional Paper or Data Entry Fee Applies

NOTE: If there has been a change in the management company since last notification to Compliance, please go to the Compliance website to complete the change in management company and submit a copy of the current Management Agreement will need to be submitted to the Multifamily Compliance and Asset Management department by email. To complete the change, please access TDCS and Update company and/or contact information in Property Details of TDCS. Failure to submit this document may preclude KHC from releasing project information to the new Managing Company. FYI, always remove contacts from TDCS that have access if they no longer are associated with the project.

Annual Monitoring Fee Rate - Compliance Period (Years 1 - 15):

• RHS Section 515 in Initial Reporting Year: Number of Units x $40 = Total $ Due
• RHS Section 515 in Years 2 through 15: Number of Units x $25 = Total $ Due
• RHS Section 515 in Years 1 through 15 w/blended funding (HOME, AHTF, RD 538, etc.): Number of Units x $40 = Total $ Due
• Non-RHS: Number of Units x $40 = Total $ Due

Annual Monitoring Fee Rate - Projects electing Average Income Set aside per 8609 election:

• All Reporting Years: Number of Units x $50 = Total $ Due

Annual Monitoring Fee Rate - Compliance Period for Risk Share is determined by the Mortgage Term.

• Risk-Sharing ONLY project: Number of Units x $40
• Risk Sharing combined with HC Projects: Number of Units x $40

Annual Monitoring Fee Rate - Extended Use Period (Years 16 - 30):

• HC projects ONLY combined with RHS Section 515: Number of units x $15 = Total $ Due
• RHS Section 515 in Years 16 through 30 w/blended funding (HOME, AHTF, RD 538, etc.): Number of Units x $25 = Total $ Due
• Non-RHS: Number of Units x $25 = Total $ Due

American Recovery and Reinvestment Act of 2009 (ARRA) Project(s) - Asset Management (AM) Fee

• Annual Monitoring Fee does not apply to Section 1602 Exchange and/or TCAP due to the pre-established Management Fee Escrow accounts.
• However, late submission of the electronic APR packet (Owner’s Annual Certification of Compliance and Annual Operating Expense Information) will be assessed a late fee that will be deducted from the project’s Management Fee Escrow account.

** APR Late Fee:

All properties that have not submitted all required Annual Performance Packet items or have submitted an incomplete certification by April 01 will be assessed a $25.00 per/unit late fee. An additional $25.00 per/unit late fee will be assessed if the Annual Performance Packet has not been received within 90 days (June 30) of the deadline.

KHC reserves the right to NOT cap the late fee assessment. KHC will consider if a project has demonstrated a pattern of late submittals when determining if the late fee should have a maximum cap.

Paper Submission Fee:

An additional $100 fee per project must be submitted with any paper submission of the Owner’s Annual Certification of Compliance. (Recovery Centers are not subject to fee) If this fee is not submitted with the report, then the certification will be considered incomplete and will be subject to late fees until paid.

Data Entry Fee - Tenant Data Collection System (TDCS):

(In addition to Paper Submission Fee)

For owners of multifamily rental housing electing to submit tenant data on the Building Status Report (BSR) via email or paper, an additional fee of $10 per unit or $100 per project - whichever is greater must be submitted. (Recovery Centers are not subject to this fee) If this fee is not submitted with the report, then the certification will be considered incomplete and will be subject to late fees until paid.

Fee(s) in Addition to Annual Monitoring Fee Rates: (Applicable to All Rental Programs)

Follow-up Compliance Review or Physical Inspection Fee

• $200.00 per project visit

A follow-up or physical inspection fee will be assessed to a project if a KHC Compliance Officer or Inspector has to reschedule a follow-up unit and/or site inspection for the following reasons:

• Selected unit(s) were not able to be accessed during scheduled review time,
• Tenants were not provided proper notification to allow entrance to the unit for inspection by KHC staff,
• Owner / property manager failed to meet KHC staff at property on the day of the confirmed compliance review, and
• Any other reason by fault of the owner / property management company that would cause KHC staff to have to reschedule required reviews/inspections.

Qualified Contract Request Fees (Housing Credits only):

Owners requesting a Qualified Contract must submit a $3,500 non-refundable administration fee with the request. In the event that additional third-party reports are required by a potential buyer or KHC, the Qualified Contract process may be suspended during the time needed to prepare the reports. The cost of the additional reports will be at the expense of the property owner. All payments for service must be made within a timely manner. Non-cooperation by the property owner to respond to reasonable third-party report requests by KHC or a potential buyer will lead to the termination of the Qualified Contract process. Non-cooperation or excessive delays by the property owner on any issues of the Qualified Contract process will also result in the termination of the process and will result in the owner being required to comply with the property low-income usage requirement for the remaining extended use period.

Change in Ownership Fee:

• $100 per affordable housing unit/Housing Credit unit up to a maximum of $2500

Note: Any type of change in ownership control, either complete change in Ownership Entity or change in entities that form the GP, will result in this fee. For Housing Credit projects in which the limited partner is removing the GP due to poor performance, KHC reserves the right to waive this fee. In addition, KHC reserves the right to waive this fee if it presents a financial hardship to an assuming nonprofit. This fee does not apply to changes in the Limited Partner.

Change in the Project Design Fee:

This fee will be charged if an owner requests a change to a significant project design element that was originally pledged in the funding application and/or for which points were awarded. The fee must be paid at the time of the request and is not refundable. The fee primarily covers staff research and analysis which are required regardless of the outcome, rejection or approval, of the request.

This fee is normally not applicable to temporary waiver requests on such set asides as homeless units or units set aside for special needs population. However, KHC reserves the right to require fees in these cases if researching and/or granting such a request requires significant staff time.

Those considering making a design change request are welcome to discuss this with their KHC Portfolio Analyst in the Asset Management Department. All such conversations are preliminary with no guarantees, but the Analyst may be able to provide insight to help the potential applicant decide whether or not they wish to submit a request and pay the fee.

LIHTC SINGLE UNIT SALE TO HOMEBUYER

In certain circumstances, regulations and KHC policy allow the sale of a single LIHTC unit to an income qualified homebuyer. Fees required in this process are:

• $250 per request to sell a specific LIHTC unit to a specific qualified homebuyer.
• $100 per request for approval to market a specific unit directly to qualified homebuyers rather than a current tenant.
• $100 per request to extend the approved timeframe for direct marketing of a specific unit.