The tax credit compliance staff monitors
tax credit properties with over 60,000 tax credit units scattered
across 86 of Ohio's 88 counties. An initial inspection for all new buildings must be
conducted no later than the end of the second taxable year after
each building is placed in service. All properties, new and existing,
must be inspected on a three-year cycle for the duration of the
compliance period (15 years).
Each inspection consists of a
physical inspection (Uniformed Physical Condition Standards) and
a file review on 20% of all low-income units. The Tenant Income
Certification (TIC), supporting documents and rent restriction are
the focal points for each file review. Properties selected for inspection
are assigned by size (number of units), management company and geographic
area to a tax credit staff member. The inspections are conducted
to ensure the properties are in compliance with IRS regulations
and state/owner agreements.
In addition to site inspections, the staff is also responsible
for receiving and logging Annual Owner Certifications and Annual
Owner Reports. Once received, all certifications and reports are
entered into a database, which also tests for compliance. |
