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Section 3
MBE/WBE

 

 

 

The Missouri Housing Development Commissionís

 

Property Review List Matrix*

 

Program

Section 8 HAP Contract

No Section 8 HAP Contract

MHDC or HOME funds with or without Tax Credit (24 units or more) 

AFS** are required regardless of the # of units under the HAP.  Budget required only if a large number of units are not rent controlled by HAP. 

AFS and budget are required.

MHDC or HOME funds with or without Tax Credit (13 -23 units)

Reviewed/compilation financial statements are required regardless of the # of units under the HAP. Budget required only if a large number of units are not rent controlled by HAP. 

Reviewed/compilation financial statements and budget are required.

MHDC or HOME funds with or without Tax Credit (12 units or less)

AFS and budget are not required.

AFS and budget are not required.

Tax Credit  Only (After 1988/24 units or more)

AFS are required regardless of the # of units under the HAP. Budget required only if a large number of units are not rent controlled by HAP. 

AFS and budget are required.

Tax Credit Only (13 -23 units)

Reviewed/compilation financial statements are required regardless of the # of units under the HAP.  Budget required only if a large number of units are not rent controlled by HAP. 

Reviewed/compilation financial statements and budget are required.

Tax Credit Only (12 units or less)

AFS and budget are not required.

AFS and budget are not required.

Rural Development (MHDC in 1st Position)

AFS and Budget is required to be sent to MHDC. MHDC AFS & Budget rules should be followed as stated above.

AFS and Budget is required to be sent to MHDC. MHDC AFS & Budget rules should be followed as stated above.

Rural Development (Tax Credit Only/ MHDC in 2nd Position)

AFS and Budget is not required to be sent to MHDC. Rural Development AFS & Budget rules should be followed.

AFS and Budget is not required to be sent to MHDC. Rural Development AFS & Budget rules should be followed.

 

*The Property Review List is not related to the Section 8 contract renewal process.  Additionally, rent increases are a separate process from budget and AFS review.

**AFS:  Annual Financial Statements must be audited.  A review or compilation may only be accepted where stated.