The Asset Management Division has updated its Asset Management page with the new rules effective January 5, 2017, and has also updated its Post Award Activities Manual and several related form packets. Changes in 2017 include but are not limited to the following items:
The introduction of a HOME/NSP/NHTF Rent Approval process (due by January 30, 2017). HOME properties that were committed funds after August 23, 2013, and on which construction has been completed, must submit HOME rents for approval to their Asset Manager by January 30, 2017. Forms and instructions have been placed on the Post Award Activities Manual page for use: http://www.tdhca.state.tx.us/asset-management/pca-manual.htm
Construction Status Reports (which all Developments must submit) have been included in the extensions process and fees schedule. Construction Status Reports due April 4, 2017, or later, will need to request extensions 30 days in advance of the deadline for submission in order to avoid paying a $2,500 extension fee. Extension requests submitted later than 30 days after the deadline or late reports must remit a $2,500 fee. Note that the Texas Government Code requirement for Housing Tax Credit Developments to submit Minority Owned Business Reports on a quarterly basis has now been added into the Construction Status Report and a reporting form is available on the Post Award Activities Manual page: http://www.tdhca.state.tx.us/asset-management/pca-manual.htm
The Fee Schedule for Asset Management activities has been updated. Please see the Post Award Activity Fees page: http://www.tdhca.state.tx.us/asset-management/activity-fees.htm for the updated list of fees.
Amendment processes have been updated to reflect a new notification process for limited changes as published in the updated Asset Management rule, new fees related to Amendment requests on the same applications, and new hearing and notification timelines for Material LURA Amendment requests. In addition, submission deadline calendars have now been posted to the Post Award Activities Manual page: http://www.tdhca.state.tx.us/asset-management/pca-manual.htm to create additional convenience for Owners and Agents.
The Ownership Transfer form packet, 10% Test Form packet, and Cost Certification packet have been updated to consolidate forms, correct identified issues, and reflect the current rules. If you experience problems using these forms or have questions, please contact your Asset Manager. Cost Certifications submitted using the previous forms are acceptable for the January 15, 2017, deadline.
The Right of First Refusal (ROFR) process has been added to the Post Award Activities Manual and forms have been provided for use on the Post Award Activities Manual page: http://www.tdhca.state.tx.us/asset-management/pca-manual.htm.
The full and approved copy of the Subchapter E approved Asset Management rules is now available on the Asset Management Announcements page: http://www.tdhca.state.tx.us/asset-management/announcements.htm.
Finally, Asset Management would like to introduce Michelle Mickens as our newest Asset Manager assigned to properties located in Regions 10 and 11. You can find an updated assignments map and contact information for all Asset Managers at http://www.tdhca.state.tx.us/asset-management/contacts.htm.