Due to a complication with the latest DevCo software update,
the most recent update to the passbook rate from 2% to .06% was
unsuccessful. OHFA is working on correcting the issue and expects to have
a resolution on or around February 12, 2015.
For any tenant income certifications (i.e. move-ins,
transfers, recertifications, or household composition updates) with effective
dates between February 1, 2015 through February 12, 2015 and completed in
DevCo before Feb 12, 2015, property managers will need to correct the
Tenant Income Certification (TIC) to reflect the income from assets using
the new .06% passbook rate once OHFA indicates the correction has been
made in DevCo.
The TIC correction should be initialed and dated by the
property manager and the resident. The property manager should also
complete an OHFA clarification record (PC-E20 Clarification Record)) stating that the
TIC contained the incorrect passbook rate and that a corrected TIC was
completed using the new .06% passbook rate.
information on the new .06% passbook rate update please review OHFA's Memo - Housing Tax Credit (HTC) and/or
HOME Program Updates or HUD Notice H 2014-15 - Change to Passbook Rate.
issue another memo when the new .06% passbook rate is operational in
DevCo. We apologize for the inconvenience. Please direct any questions to
the DevCo help desk at DevCohelp@ohiohome.org.