Okla. Admin. Code § 330:60-7-5

Current through Vol. 42, No. 4, November 1, 2024

Section 330:60-7-5 - OHFA's responsibilities

OHFA will review and verify, but is not limited to, the following duties:

(1) OHFA will verify the Awardee is maintaining records for each qualified affordable housing unit in the Development.

(2) Possession of valid Certificate(s) of Occupancy.

(3) Physical inspection of 100% of the OHTF Developments/units according to HUD inspection standards as set forth in the Application . Owner must allow OHFA to perform inspections throughout the Term of Affordability for rental Developments . For homebuyer Developments, only an initial inspection may be performed.

(4) Correct income limits were used in selection and on-going compliance requirements for rental Developments . For homebuyer Developments, only an initial review may be performed.

(5) A copy of the deed restrictions, covenant running with land or other forms approved by OHFA ensuring the Term of Affordability.

(6) OHFA will notify in writing the Awardee if staff discovers that the Activity does not comply with the OHTF Rules. In such event, a correction period to supply missing documentation or to correct noncompliance may be allowed.

Okla. Admin. Code § 330:60-7-5

Adopted by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/12/2014

Amended by Oklahoma Register, Volume 34, Issue 24, September 1, 2017, eff. 9/11/2017