Property Owners, Managers, & Other Partners
IHDA-Assisted Multifamily Rental Housing
IHDA and its Asset Management department welcome you to this page which outlines key information and helpful resources for the management of IHDA-assisted multifamily rental housing.
Asset Management Department Overview
Scope
The Asset Management department is responsible for ensuring effective and efficient program administration and long-term compliance for the largest portfolio of affordable multifamily rental housing in the state of Illinois. This work encompasses physical, financial, and operational compliance oversight for properties that utilize a variety of financial instruments including debt, equity, and operating subsidy. The Asset Management department works in partnership with property developers, owners, and managers as well as other funders, interagency groups, and stakeholders.
Structure
The following teams comprise the Asset Management department:
- Executive (EXEC): Establishes strategic direction to inform organizational structure, scope of work, tactical approaches, and special initiatives; advises and empowers operationalizing through a positive and productive team culture.
- Strategic Solutions (SS): Serves as a proactive and responsive strategy driver through cross-functional leadership and consultative support.
- Portfolio Analysis (PA): Ensures viability of property portfolio through financial analysis, insurance oversight, reserves administration, loan servicing, and asset repositioning.
- Program Administration and Physical Inspections (PAPI): Develops, administers, and monitors ongoing rental subsidy programming, as well as oversees physical conditions compliance.
- Project Operations Compliance (POC): Monitors operations for applicant/tenant/unit/property levels for rental projects assisted with bonds, grants, loans and/or tax credits.
Mission
Ensure effective and efficient program administration and long-term compliance for the largest portfolio of affordable multifamily rental housing in Illinois.
Vision
Take a structured and strategic approach to preserve the IHDA investment in and to achieve optimal benefits for residents in partnership with property owners/agents.
Values
Principles of communication, accountability, and consistency inform decision-making, shape culture, and drive work.
Additional Informational Resources
FY 22-24 Strategic Plan and Appendix
2024 Compliance Connection Resource Portal
IHDA and its Asset Management department are excited to announce the 2024 Compliance Connection resource portal which outlines annual compliance requirements and options for our valued partners – property owners and managers. Please check out the link below to access related information and documentation including guidance on use:
2024 Compliance Connection
Funding Opportunities
None at this time.
Policy and Procedures
Property Emergencies
It is the responsibility of the Owner/Agent of an IHDA development to provide timely and proactive communication to IHDA regarding property emergencies, specifically those that constitute an exigent health and safety risk to tenants, result in sudden operational or financial losses, and/or render a unit or building uninhabitable, even if temporary.
To that end, within five (5) business days of a casualty loss event, such as a fire or flood, that renders unit(s) uninhabitable, the Owner/Agent must submit a completed Notice of Casualty Loss to their Asset Manager.
Once repairs of the damages are completed, the Owner/Agent must submit a completed Notice of Completed Repairs-Casualty Loss along with an updated Certificate of Occupancy from their municipality dated after the repairs are completed.
Training
Affirmative Fair Housing Marketing Plan (AFHMP)
Rent Schedule and Utility Allowance
Other Rental Compliance Documents
Sending Checks for Loan Payments
Capital Bill Preservation Program: Limited Rehabilitation
Draw Request Signature Authorization Form
Capital Bill Preservation Program: Limited Rehabilitation Webinar Invitation
Capital Bill Preservation Program: Limited Rehabilitation Compliance Memorandum
Capital Bill Preservation Program: Limited Rehabilitation Webinar Presentation
Capital Bill Preservation Program: Limited Rehabilitation FAQs
Relocation
Portfolio Analysis
Financial Analysis
Financial Reporting and Audit Guidelines
Exhibit A – Single Year Schedule of Financial Performance (Excel)
Project Operations Compliance (POC)
Annual Certifications
Consolidated Certificate of Compliance
Tenant Profile Compliance Report (HOME, CDBG, NHTF, NSP)
Section 8 Income Targeting – Extremely Low-Income (30%)
Ownership Structure Certification (Exhibit C)
Certification of Incumbency for Document Execution Authorization
HOME Annual Student Certification
Rental Schedules/Worksheets-Section 8
Instructions for Rent and Utility Allowance Request
AAF Rent Comparability Study (RCS) Worksheet
AAF Rent Increase Worksheet for New Construction and Substantial Rehabilitation
Appendix 3: Sample Format for Owner’s Certification of Compliance with the Requirements of Notice
Rental Schedules/Worksheets-All Other Programs
Instructions for Rent and Utility Allowance Request
Rent and Utility Allowance Request
Management Agreement Extension
Management Agreement Extension and Amendment
Tenant Management
Tenant Selection Plan – Other Programs
Tenant Selection Plan – Other Programs – Exhibits and Addendums
Tenant Selection Plan – Section 8 Programs
Tenant Selection Plan – Section 8 Programs – Exhibits and Addendums
Tenant Selection Plan – Section 8 Moderate Rehabilitation Developments
Affirmative Fair Housing Marketing Plan (AFHMP) Initial and Ongoing
Management Plan Requirement Guidelines
Addendum to Management Plan Average Income Test Commitments
Section 8, Mod-Rehab Tenant File Guidance
HOME, NHTF, CDBG, NSP, IAHTC Tenant File Guidance
LIHTC, TCAP, 1602 Tenant File Guidance
Quarterly Occupancy and Waitlist Reporting
HUD Fair Housing Poster – English
HUD Fair Housing Poster – Spanish
VAWA Model Emergency Transfer Plan – PDF Version
VAWA Emergency Model Transfer Plan – Word Version
Tax Credit
Acceptable Forms of Income and Asset Verification
TC Under $5K Asset Certification
Tax Credit Annual Compliance Fee Payment and Mailing Instructions
Project Operations Compliance (POC) - Management Changes
If you are in the process of changing management agents or company for an active IHDA-funded development, please know that the following documents below need to be completed and submitted to IHDA for approval.
To begin the process, please download and complete the following documents which are required by IHDA for a management agent change. Please fill them out and submit them to the Compliance Analyst assigned to your development. If you do not know your Compliance Analyst, please submit the documents to ComplianceConnection@ihda.org
- Contact Directory Change Form
- Affirmative Fair Housing Marketing Plan (AFHMP)
- Tenant Selection Plan (For Other Non-Section 8 Program Developments)
- Management Plan Requirement Guidelines
- A copy of the lease and lease addendum(s) that will be used by the management agent.
- Some developments may also require the submission of a Management Agreement. If it is required, your Compliance Analyst will provide you with the format appropriate for your development.
Please make sure that all documents are signed by managing agents and owners prior to submitting.
Please submit one email for each individual development containing the documentation. Once the documents have been reviewed and approved by the IHDA Asset Management department, IHDA will send a notification letter confirming the approval of these documents that coincide with the change of property management.
Please direct any questions to your Compliance Analyst or to ComplianceConnection@ihda.org if you do not know your Compliance Analyst.
Program Administration and Physical Inspections (PAPI)
Rental Housing Support Program
Consolidated Certificate of Compliance
Acceptable Forms of Verification
Rental Assistance Contract Amendment
Rental Assistance Contract Checklist
Tenant Income Certification Form
Long-Term Operating Support Program
Consolidated Certificate of Compliance
Amendment for Development Units
Section 811 Program
811 Project Rental Assistance Lease Supportive Housing for Persons with Disabilities
Statewide Referral Network
Limits and Allowances
2023 Income/Rent Limits (without NSP)
- Note: This does not include NSP limits.
2023 Income/Rent Limits (NSP only)
- Note: This file is only for the 2023 Neighborhood Stabilization Program (NSP) limits.
IHDA Active Portfolio Property and Feedback Options
Management Bulletins
111 E. WACKER DRIVE,
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