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.