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06/01/2011

Indiana Getting Tougher for Rules Infractions

By A.J. Johnson

Developers and developer team members who fall into noncompliance with LIHTC program rules will face tougher penalties under proposed rules issued by the Indiana Housing & Community Development Authority (IHCDA). Under the proposal, which is contained in the draft 2012-2013 Qualified Allocation Plan (QAP), development team members who fail to comply with program rules would be subject to monetary fines, a reduction in competitive scoring points, a reduction in allocations, or be suspended and / or debarred. The Agency could deduct as many as ten times the number of points awarded in a scoring category when a developer fails to meet minimum requirements. Back to news

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