Housing authority says tax-credit partner will review tenant files for compliance; staff says reviewers will focus on tax-credit elements
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Summary
Staff told the board that a tax-credit partner will conduct an annual review of tenant files and will have access to full files for tax-credit compliance checks; staff said reviewers focus on income certifications and lease language and are a third party hired by the tax-credit recipient.
Peninsula Housing Authority staff told the board that a partner performing tax-credit compliance reviews will request and review tenant files as part of its annual audit. A commissioner asked how much private tenant information the partner could see; staff responded that the partner would have access to 100% of the tenant file as necessary for an independent compliance review, but that the reviewers primarily examine tax-credit elements such as income certifications and lease language.
Staff explained the partner performs this review because the partner is the recipient of low-income housing tax credits and uses a third-party audit firm to verify compliance. According to staff, the reviewers are focused on the tax-credit portion of files and are familiar with the sensitivity of tenant records.
No policy changes or contract awards were announced during the meeting; staff framed the review as a standard compliance and regulatory requirement related to tax-credit financing.