Confidently navigate the complex regulatory environment of affordable housing.
CLA (CliftonLarsonAllen) professionals understand a wide range of approaches and opportunities to affordable housing. We help by providing a broad spectrum of services for a variety of affordable housing entities.
What’s on your mind?
- Understanding changing regulations
- Compliance issues for audit, tax, Real Estate Assessment Center (REAC), and cost certifications
- Navigating financing opportunities
- Tax credit application assistance
- Identifying regulatory and compliance issues that threaten tax credit and housing and urban development (HUD) project eligibility
- Planning for tax credit year 15 exits at project inception
A unique approach
Affordable housing offers numerous financing opportunities through HUD, tax credits, and tax-exempt financing, all of which enrich and support local communities, while also benefiting current and future affordable housing developments. Projects must comply with various reporting and regulatory obligations that must be carefully navigated.
Mistakes in any project phase are costly and can lead to financial consequences and risk of disqualification from future programs. CLA blends experience in the industry with a wide range of resources. We support public housing ities, state housing credit agencies, and operators, sponsors, and developers of HUD and low-income housing tax credit (LIHTC) projects.
Our approach begins with understanding your vision. During pre-application and pre-development, CLA can assist in determining a project’s feasibility by providing financial projections. We work with you to identify opportunities and mitigate challenges from development and construction through occupancy.
We support your regulatory compliance process through annual financial statement audits, tax compliance, and on-going education as changes occur.
Services for the affordable housing industry
- Annual REAC submission and agreed upon procedures (AUP) reporting
- Application preparation and support
- Capital markets (private placement agent)
- Cost certification and carryover allocation reporting
- Employee benefit plan audit, tax, and consulting
- Feasibility analysis and financial projections
- Federal tax programs (Opportunity Zones, NMTC, HTC, etc.)
- Financial statement audits and tax return preparation
- Regulatory compliance education and training
- Tax credit year 15 exit strategies and planning
- Transaction analysis and due diligence