HUD will monitor the performance of nonprofit agencies according to ML 00-08 Attachment 3. In addition, the nonprofit must maintain adequate facilities (See ML 02-01page 5) and records in a specific format for HUD's review. See ML 02-01 Attachment 4.
Annual Reporting Requirements
Nonprofits who purchase HUD-owned properties at any discount are required to submit an annual housing report. Please see ML 00-08 Attachment 3 and ML 00-08 Attachment 5. Also see ML 01-30 for an explanation of net the development calculation.
Biennial Recertification Requirements
All nonprofit agencies are required to file ML 00-08 Attachment 4, recertification of their agencies and their updated affordable housing plan every two years. You can calculate your agencies recertification date by looking at the date of your HUD approval letter and adding two years. In addition, please see ML 02-01 for new recertification requirements. The recertification package must contain:
- An annual housing report,
- An updated affordable housing plan, and
- Additional requirements as outlined in ML#02-01:
- Financial capacity (page 3),
- nonprofit status (page 4),
- adequate facilities (page 5),
- quality control plan (page 5-6), and
- reporting and recordkeeping requirements (page 6).
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