What are the minimum performance standards?

The Affordable Housing Investors Council (AHIC) has established a widely accepted set of project performance criteria. Highpoints include:

• Project must remain in full compliance of all LIHTC regulations
• Vacancy at less than 8%
• Delinquency less than 7%
• Debt Coverage Ratio (DCR) greater than 1.1
• Taxes must be current
• Insurance must be current
• Minimal deferred maintenance
• Reporting requirements must be met
• Project must pass regularly scheduled site visits

What if my project fails to meet one or more of these criteria?

Any project in the OCCH portfolio failing to meet one or more of these criteria will be placed on the ‘watchlist’, where the managing agent and owner will be required to submit and execute a corrective action plan.