Ill. Admin. Code tit. 47 § 369.304

Current through Register Vol. 48, No. 50, December 13, 2024

Section 369.304 - Related Requirements

Any award of a Grant shall be subject to the Related Requirements and any applicable requirements of the Act; which include:

a) Restrictions:

1) Income-eligible households: Maximum AMI of 50% or 60%, or Average AMI of 60% with range between 20% and 80%, as owner elects.

2) Affordable rents: 30% of target income.

3) Target population: Must be available to general public; restrictions on full-time students, but no citizenship requirement.

4) Leasing requirements: Not to be used for temporary housing; lease must be for at least 6 months.

5) Physical condition: Must be maintained to HUD's Uniform Physical Condition Standards (24 CFR 5 (2022))

6) Annual income recertification required: Not for 100% affordable projects; mixed income projects only.

7) Fixed or floating units: Floating units must maintain applicable percentage as measured by unit or square footage.

b) Monitoring:

1) Physical Inspection: Triennial, using the sample size required by HUD's Real Estate Assessment Center (REAC) (see table to paragraph (c)(2)(iii), 26 CFR 1.42-5 (2022)).

2) Tenant File Review: Triennial, using the sample size required by HUD's Real Estate Assessment Center (REAC) (see table to paragraph (c)(2)(iii), 26 CFR 1.42-5 (2022)).

3) Record keeping review.

4) Annual Owner's Certification review.

c) Owner's Reporting:

1) Annual Owner's Certification.

2) Annual Tenant Income Certification.

3) Affirmative Fair Housing Marketing Plan.

4) Tenant Selection Plan.

Ill. Admin. Code tit. 47, § 369.304

Adopted at 46 Ill. Reg. 5975, effective 3/31/2022.