• 
• 
• 
• 
• 

NNEHIF Watch List Criteria [NEW—effective 9-07]

NNEHIF Compliance Reviews

Initial Review: NEHIF conducts a 100% file review of all initial tax credit tenants. During the initial lease-up, NNEHIF will look at the first 20% of the tenant files to ensure compliance with all Tax Credit rules. When the property has reached 100% lease-up, we will conduct a full file review and inspect the site, including 20% of all tax credit units.

Annual Review: Each year NNEHIF will conduct a review of files and conduct a physical inspection of the property, including a 20% review of the units. All new move-in files will be reviewed, as well as recertification files to ensure ongoing compliance with the LIHTC program. The physical review will be done using UPCS standards, which looks t five areas of the property: the site, the building exteriors, the building systems, the common areas and the units.

Reviews are conducted by either NNEHIF staff or Spectrum Enterprises, a nationally known company that conducts monitoring services for state agencies as well as private companies.

Compliance