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BACK TO TOP <br />INTRODUCTION 1 <br />FOREWORD 2 <br />BACKGROUND AND OVERVIEW 3 <br />PROJECTS WITH ALLOCATIONS FROM MULTIPLE ALLOCATORS 3 <br />TAX EXEMPT BOND PROJECTS 3 <br />CHAPTER 1- PROGRAM SUMMARY 4 <br />A. MINIMUM SET ASIDE ELECTION 4 <br />B. RENT AND INCOME REQUIREMENTS 5 <br />C. RENT AND INCOME FIGURES 5 <br />D. BUILDING REGULATIONS 6 <br />E. FULL TIME RESIDENT MANAGER'S UNIT 7 <br />F. CALCULATING THE FIRST YEAR APPLICABLE FRACTION 8 <br />G. QUALIFIED BASIS 9 <br />H. CLAIMING CREDITS 9 <br />I. COMPLIANCE PERIOD 10 <br />J. OUTLINE OF MINNESOTA HOUSING COMPLIANCE PROCESS 10 <br />K. OWNER'S RESPONSIBILITY 11 <br />L. NONCOMPLIANCE 11 <br />CHAPTER 2 - IRS REPORTING REQUIREMENTS 12 <br />A. Low INCOME HOUSING ALLOCATION CERTIFICATION (IRS FORM 8609) 12 <br />B. LOW INCOME HOUSING CREDIT (IRS FORM 8586) 12 <br />C. DECLARATION OF LAND USE RESTRICTIVE COVENANTS 13 <br />D. RECAPTURE OF Low INCOME HOUSING CREDIT FORM 8611 13 <br />CHAPTER 3 - RECORD KEEPING AND RECORD RETENTION REQUIREMENTS 14 <br />A. RECORD KEEPING 14 <br />B. RECORD RETENTION 14 <br />CHAPTER 4 - MONITORING - CERTIFICATION AND REVIEW 16 <br />A. ANNUAL CERTIFICATION 16 <br />B. ANNUAL SUBMISSION REQUIREMENTS 17 <br />C. COMPLIANCE MONITORING REVIEW REQUIREMENTS 19 <br />D. PROCEDURE FOR COMPLIANCE INSPECTION 20 <br />E. COMPLIANCE FORMS 22 <br />F. CORRECTIONS TO DOCUMENTS 22 <br />G. ANNUAL MONITORING FEES 23 <br />H. MINNESOTA HOUSING RECORDS RETENTION 23 <br />I. LIABILITY 23 <br />CHAPTER 5 - PROJECT RENTAL REQUIREMENTS 24 <br />A. ALLOWABLE FEES AND CHARGES 24 <br />B. SECTION 8 RENTS 25 <br />C. MINIMUM LEASE REQUIREMENT 25 <br />D. HOUSEHOLD SIZE 26 <br />E. UTILITY ALLOWANCE 28 <br />F. OWNER'S AVERAGE OF ACTUAL CONSUMPTION UTILITY ALLOWANCE PROCEDURES 30 <br />G. PHYSICAL REQUIREMENTS OF QUALIFIED UNITS, SUITABLE FOR OCCUPANCY 33 <br />H. DISCRIMINATION PROHIBITED IN PROJECT AND GENERAL PUBLIC USE 33 <br />I. VACANT UNITS 34 <br />J. OTHER STIPULATIONS 35 <br />K. STUDENT ELIGIBILITY 35 <br />