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109.04.6-VII. Recertification of Tenant Income.

AR ADC 109.04.6-VIIArkansas Administrative Code

West's Arkansas Administrative Code
Title 109. Development Finance Authority
Division 04. Multi-Family Housing
Rule 6. Compliance Monitoring Policies and Procedures Manual for the Home Program
Ark. Admin. Code 109.04.6-VII
109.04.6-VII. Recertification of Tenant Income.
Tenant eligibility must be verified at initial occupancy and must be recertified annually. ADFA staff will look for third-party source documents to confirm verifications. In some instances, a tenant may be receiving other income-based assistance (i.e. Section 8 voucher). Owners or managers may obtain a written statement of family size and income from the other program administrator as a form of source documentation. The documentation must be sufficient to support the information in the certification and compliance report.
Income determinations must show that all residents of HOME-assisted units are at or below 50 percent or 80 percent of the area median income, adjusted for family size. Owner or his designee must review the specific HOME Agreement to confirm if he agreed to lease to households at 60% or less of the AMI.
Source documents or verifications used for income determinations must be in the file and available for review. ADFA staff will look for signed income certifications. Use of the ADFA Tenant Income Certification (TIC) is mandatory. ADFA will not accept strikethrough lines or the use of white-out on the TIC. If errors are discovered before all parties sign, owner or designee must prepare a new TIC. If errors are discovered after all parties have signed, ADFA will accept a properly executed addendum with corrections or a new TIC.
In addition to on-site reviews, ADFA staff will conduct desk reviews of annual Project Compliance Reports submitted by owners. The Project Compliance Report form will be mailed to owners by June 15th each year. The reports must be completed and returned to ADFA no later than July 31 of each year during the affordability period.
Current with amendments received through May 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 109.04.6-VII, AR ADC 109.04.6-VII
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