Multifamily Capabilities | Affordable

AFFORDABLE PROCESSES

Recertification Reviews: The Compliance Team will review and make a determination on each completed recertification file received within a 24-hour business period (a “business period” shall be within the time period of Monday thru Friday, 8:30 a.m. to 5:30 p.m. Eastern Standard Time). If the applicant is ineligible, a brief explanation will be provided to the on-site management team to assist in options for qualifying the applicant. All delivery shall be via encrypted electronic communication. Forms: Owner agrees to the use of forms required by Federal, State, County and City laws and that all such required forms supersede any property forms and will be used according to the needs of the applicant and the agency and IRS mandate. New Move-In Approvals: The Compliance Team will review and make a determination on each completed applicant file received within a 24-hour business period (a “business period” shall be within the time period of Monday thru Friday, 8:30 a.m. to 5:30 p.m. Eastern Standard Time). The Team will then submit an approval to the on-site management team if the applicant is eligible. If the applicant is ineligible, a brief explanation will be provided to the on-site management team to assist in options for qualifying the applicant. Once the ineligible applicant file is resubmitted to the management team for further clarification and/or correction it becomes the on-site management team’s responsibility to return the applicant file back to the Compliance Team in a timely manner for re-review. All delivery shall be via encrypted electronic communication.

MONITORING SERVICES To ensure regulatory adherence, Cushman & Wakefield applies substantial resources to the following aspects of compliance: • Review regulatory program reports prepared by the property’s on-site management team • Income and set-asides: baseline requirements, income limits and maximum permissible rents • Compliance monitoring of new move-in application files, annual recertification, special targeted set-asides, amenities and resident services • Regulatory and compliance agency monitoring visits: on-site preparation, real-time support on day of visit • Recordkeeping and data preservation Methodology Application Review: Cushman & Wakefield’s Compliance Team will review the eligibility of each application for income and program eligibility. The property’s onsite management team will submit the appropriate application with corresponding verifications, certifications and clarifications for the Compliance Team to review prior to the initial occupancy of the applicant. The Compliance Team will review the annual recertification resident files for continued eligibility.

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