Q: How do I
access MHDC’s Asset Management Reporting System?
A: Please log on to https://amrs.mhdc.com. Access is granted by entering
the project’s user name and password. MHDC’s Asset Management Department
will notify each property and issue login information when the property
is required to begin reporting.
Q: What will I
be required to enter in AMRS?
A: All TCAP/TCR funded properties are required to enter a monthly
internal balance sheet and income statement, and upload a copy of the
balance sheet, income statement and accounts payable aging report. In
addition, all TCAP/TCR funded properties must provide the number of
evictions, number of move-ins/outs, reason(s) for move-outs, number of
police calls, and indicate if any insurance claims were filed each
Q: When are the
TCAP/TCR reports required to be submitted by in AMRS?
A: The previous month’s financial information will need to be
submitted by the 25th of every month (i.e. April 2011 financial
information is due by May 25, 2011.
Q: Which MHDC
reporting requirements will my property need to follow if I have tax
credits combined with TCAP and/or TCR funding?
A: In addition to specific TCAP/TCR program requirements, all properties
that have tax credits combined with TCAP and/or TCR funding will be
required to adhere to the following additional risk review program
requirements set forth under MHDC’s mortgage program:
• Monitoring of established reserves
• Authorization of management and adjustment of management fees
• Annual inspections
• Budget Based rent increases
• Reporting of annual household characteristics through COL
Q: What happens
if I fail to report my occupancy information by the 25th of the month?
A: Properties that miss the 25th of the month reporting date will be
placed in automatic noncompliance on the 26th day of each month.
Noncompliance will be removed once all unsubmitted months are reported
Q: What does
“Noncompliance Status” mean?
A: Noncompliance Status is a term used by MHDC when a project fails to
submit any information as prescribed under the Regulatory Agreement,
Land Use Restriction Agreement (LURA) or respond to any MHDC inquiry
within the allotted time frame. Lack of response to MHDC’s request is a
direct violation of the Regulatory Agreement and/or LURA. MHDC will not
process any future requests (replacement reserve withdrawal, rent
increases, surplus cash, etc.) from a project until the noncompliance
issue is resolved. Excessive noncompliance is reported to the commission
which could affect future business with MHDC.