Multifamily Capabilities | Affordable

Lease-up – First Year Move-In Approvals: Compliance Specialists 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 Compliance 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 re-submitted to the on-site 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. The Compliance Team will store a copy of the First Year files and provide copies for future requests from interested parties. Regulatory Agency Reviews: The Compliance Team will be Cushman & Wakefield’s primary contact for the monitoring agencies. They will assist with prepping the on-site management team and submitting any pre-audit documentation to the monitoring agent. The Compliance Team will respond on any issues noted during the review on behalf of the Owner. The on-site management team will submit the appropriate clarification and/or correction to the Compliance Team in the required time period for the submission to the monitoring agency. All delivery shall be via encrypted electronic communication and/or electronic mail.

Reporting Requirements: The property’s on-site management team will create and submit the appropriate regulatory agreement program report and corresponding verifications for the Compliance Team to review for information accuracy prior to the submission to the governing agency. The Compliance Team will review, and if the reporting document is eligible for submission, will approve for submission. If the report is ineligible, a brief explanation will be provided to the on-site management team to assist in options for correcting. Once the ineligible report is returned to the on-site management team for further clarification and/or correction it becomes the on-site management team’s responsibility to return the report back to the Compliance Team in a timely manner for re-review. The Compliance Team will complete the Annual Owner Certification (AOC) and/or Certification of Continuing Program Compliance (CCPC) for ownership signature and submission. All delivery shall be via electronic mail or facsimile. The Compliance Team will store copies of the reports and provide copies for future requests from interested parties. Annual Income and Rent Limits: Updated maximum allowable income and rent limits shall be provided to the on-site management team and the Affordable IT team annually within 45 days of the income and rent limit changes. Staff Training: Cushman & Wakefield’s Learning and Development team will provide classroom and specialized web-based trainings for the on-site management team. The Compliance Team will support affordable training in the form of their Housing Academy forum.

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