GAO suggests increased LIHC monitoring. (General Accounting Office; low-income housing tax credit): An article from: Journal of Property Management

This digital document is an article from Journal of Property Management, published by Institute of Real Estate Management on September 1, 1997. The length of the article is 616 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The General Accounting Office's (GAO) new report on the state compliance among low-income housing tax credit properties recommends that these properties undergo more frequent site inspections and that the number of low-income units be audited by state agencies. According to the report, existing compliance monitoring provisions are not adequate to guarantee strict compliance with IRC 42 and its regulations by state agencies and project owners. It suggests that states and the IRS should pay greater attention to state agencies' monitoring. One of the flaws of the monitoring programs of state agencies is their overreliance on desk reviews. The GAO has found that some forms of non-compliance, including building code violations and improper income certification or verification, can be detected more effectively by site inspections than by desk reviews.

Citation Details
Title: GAO suggests increased LIHC monitoring. (General Accounting Office; low-income housing tax credit)
Author: Michael J. Novogradac
Publication:Journal of Property Management (Refereed)
Date: September 1, 1997
Publisher: Institute of Real Estate Management
Volume: v62 Issue: n5 Page: p16(2)

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