About Compliance

The Low Income Housing Tax Credit Program provides millions of dollars for affordable housing every year, but the program does not end when construction is complete. State housing agencies and investors require strict compliance with the LIHTC rules and regulations for years after your tenants have moved in. Travois Asset Management LLC can help you make sense of all the paperwork and maintain compliance for your tax credit units. We can carry some of the burden for you and assist you at a cost that would be lower than your cost for adding an additional staff person.

Travois Asset Management LLC can also provide training tailored to the needs of your staff and your organization. Our Travois staff is nationally certified with many years of compliance experience specifically related to Indian Country projects. We understand NAHASDA and know how to work with your various funding sources to ensure that all of your compliance requirements are met.

Services:

• Site Visits: We will conduct as many on-site assessment visits as necessary, but not less than quarterly, to put into place customized and project-specific management systems and procedures to ensure timely, accurate, and appropriate documentation to meet Section 42 requirements
• Initial Tenant Files: Set up initial tenant files with appropriate BIN Numbers, Project summary sheets, and other state and investor requirements.
• Pre-concurrence Services: Initial tenant file review and approval/pre-concurrence for investor and state. Maintain an off-site, duplicate copy of all initial tenant file documents for safe-keeping.
• Recertifications: Assist in recertification, including tracking due dates and ensuring accuracy and timely delivery.
• Form 8609s: Assist in the preparation of Form 8609, including preparing and compiling all data necessary for filling with state agency.
• Compliance Reports: Assist in the preparation of all state and investor-required compliance reports.
• Training: Introductory, advanced and on-going continuing education of staff in tax credit development and compliance issues and regulations.
• Troubleshooting: Resolve problems associated with operations, including receipt of any Form 8823s.
• Miscellaneous Services: Travois will be available by phone, fax and/or e-mail to answer any questions you may have relating to tenant eligibility, reporting requirements, and any other compliance-related issues.
• Accounting Assistance: Assist and coordinate with third party accountants in preparation of cost certifications, annual tax returns, and annual audits.