HCCP HCCP Site and Unit Standards

Question 1

Under the Low-Income Housing Tax Credit program, what is the minimum percentage of units that must meet the physical standards for accessible design in a new construction project subject to the Fair Housing Act?

Accepted Answer

10%

Answer

The Fair Housing Act requires that at least 10% of units in covered multifamily dwellings meet accessible design and construction requirements.

Question 2

Which physical inspection protocol is most commonly used by state housing finance agencies to evaluate LIHTC property condition during compliance monitoring?

Accepted Answer

UPCS (Uniform Physical Condition Standards)

Answer

UPCS (Uniform Physical Condition Standards) is the inspection protocol most commonly adopted by state agencies for LIHTC compliance monitoring.

Question 3

When a LIHTC unit fails a physical inspection, what is the owner's typical obligation under IRS compliance rules?

Accepted Answer

Correct the deficiency within a reasonable time frame set by the state agency

Answer

Owners must correct physical deficiencies within a state agency-specified timeframe to restore the unit to compliance and avoid credit recapture.

Question 4

Under LIHTC rules, which of the following amenities, if provided exclusively to market-rate tenants, would most likely constitute a violation?

Accepted Answer

Fitness center access restricted from low-income tenants

Answer

Providing common amenities exclusively to market-rate tenants while denying them to LIHTC tenants violates the program's non-discrimination and comparability requirements.

Question 5

What does the 'suitable for occupancy' standard require for a LIHTC unit to count toward the property's qualified basis?

Accepted Answer

The unit must be habitable and meet local health and safety codes

Answer

A LIHTC unit must be suitable for occupancy — meaning habitable and compliant with local health and safety codes — to be included in the qualified basis.

(HCCP) Housing Credit Certified Professional Practice Test

(HCCP) Housing Credit Certified Professional Practice Test

HCCP HCCP Site and Unit Standards