Housing Services:
Asset Management Program

Central City Housing Inventory City of Portland Asset Status and Conditions Report - Memo City of Portland Asset Status and Conditions Report - December 2007 Set-aside risk recommendation memo - February 20, 2008 City of Portland Asset Status and Conditions Report - December 2006 City of Portland Asset Status and Conditions Report Tentative Findings - December 2006 Asset Status and Condition Report 2006

Portland Development Commission’s internal Asset Management system monitors and enforces the compliance, reporting and project financial performance terms tied to the funding assistance provided for the development or rehabilitation of housing. The goals of the system are to ensure that projects financed perform as projected, benefit intended populations, remain assets in the community, achieve long-term sustainability and repay the City’s investment. This system is staffed to ensure quality compliance and monitoring.

The Borrower’s Asset Management process begins with the preparation and submission of the Borrower’s Asset and Property Management Plan and ends with the expiration of any regulatory agreement and/or repayment of funding per the document terms. The Borrower is required to submit annual reports to assure ongoing compliance.

Monitored Programs

Multi-family Housing Rental Units Federally-funded Projects (HOME/CDBG) Fee Waivers & System Development Charges (SDC) Limited Tax Abatements (LTA) Transit-Oriented Development (TOD) New Multiple-Unit Housing Economic Development Investments (EDI)

Annual Reporting Tools

ETS (Electronic Tenant Survey) (Excel files)
Download and save the ETS form to your computer. Then browse to the document on your computer to open and complete the ETS form. Save the completed ETS and submit via e-mail. If you have any questions using this form please contact Asset Management for assistance.

EOS (Electronic Operating Statement) (Excel)
Download and save the EOS to your computer. Then browse to the document on your computer to open and complete the EOS form. Save the completed EOS and submit via email to assetmanagement@pdc.us. In addition, explain any variance from the proforma created at origination, Submit the year-end borrower audited financial statements and the on-site management company prepared financial statements for supporting detail to the address listed below.

AFHMP (Affirmative Fair Housing Marketing Plan) (Word)
Download this form and SAVE the file to your computer (the publication is a “Form” document). The form can be filled out by tabbing through each field. When the form is complete, print, sign and MAIL it to the address listed below.

Other Project Tools

Rent Schedule and Utility Allowances (Excel)

Initial ETS Reporting (Excel)

Median Income/Rent Levels
Portland Metro Area

• HUD 2008 Income/Rent Limits (PDF)
• HUD 2007 Income/Rent Limits (PDF)
  


• HOME: 2008 Income/Rent/ Subsidy Limits (PDF)
• HOME: 2007 Income/Rent/ Subsidy Limits (PDF)
  


• HOME Addendum, Rev. Sept. 2004 (PDF)

Utility (PGE & PP&L) Allowance Worksheet:

• April 2008 (PDF)
• May 2007 (PDF)

Tenant Income Certification (TIC) - Download and save to your computer the required form before trying to use it.

• General TIC
• HOME TIC
• LIHTC TIC

HOME Income Certification Forms - Download and save to your computer the required form before trying to use it. When you open the form, you may be asked for a password, select "Read Only." It may ask if you want to merge changes, select "No." Then the form will open.

Affidavit of Pregnancy Household Comp Applicant/Tenant Questionnaire Asset Certification (under $5,000) Asset Verification Certificate of Child Support / Alimony Child Support Phone Verification Employment Termination Verification Estrangement / Separation Certification HOME Addendum (Sept. 2004) HOME Asset / Income Calculation Summary

HOME Compliance Checklist Income Verification (Employed Person) Income Verification (Self-Employed Person) Periodic Monetary Assistance Verification Public Assistance Verification (TANF, etc.) Public Housing Authorization Statement Social Security Benefits Verification Student Status / Financial Assistance Verification Unemployed Affidavit / Zero Income Certification

Asset Management Program Guidelines

Borrower’s Asset Management Guidelines (7/05, PDF)
Section 10 of the Portland Development Commission Housing Financial Products Manual. For questions or clarification regarding these guidelines, please contact Asset Management.

Borrower's Asset & Property Management Plan—Appendix 11.16 (Word)
Format to be used to submit the required Asset Management Plan and Resident Services Plan (as required), as provided in the Borrower’s Asset Management Guidelines. (publication is an “Application/Form” document)

Borrower Compliance & Reporting Reference Sheet — Appendix 11.17 Sample (PDF)
This form will be completed by PDC and provided to Borrower at Loan Closing. If the Borrower does not receive this document or has any questions concerning the information provided, please contact Asset Management.

Corrective Action Plan (CAP) — Appendix 11.18 (PDF)
Format to be used to submit a Corrective Action Plan (if needed) as provided in the Borrower’s Asset Management Guidelines. (publication is a “Reference & Research” document)

Borrower's Annual Reporting Results (BARR)—Appendix 11.19 Sample (PDF)
PDC will annually provide this report to the Borrower detailing reporting performance and compliance for each project's specific reporting cycle.

Asset Management References & Links

CDBG Regulations (24 CFR 570)
This link may be used to access the Federal Regulations citations pertaining to the restrictive covenants and compliance issues referenced in the CDBG Agreement and Declaration. (publication is a “Reference & Research” document)

HOME Regulations (24 CFR 92)
This link may be used to access the Federal Regulations citations pertaining to the restrictive covenants and compliance issues referenced in the HOME Restrictive Agreement and Declaration. (publication is a “Reference & Research” document)

Part 5 (Section 8) Income Definitions (24 CFR Part 5.609)
This link may be used to access the Federal definition of “income” as used with the PDC Guidelines.

Contact Asset Management

Portland Development Commission
Attn: Asset Management
222 NW Fifth Avenue
Portland OR 97209-3859

• Louise K. Lauman, CPM®
  Asset Manager
  Phone: 503-823-0468
  E-mail: Louise K. Lauman
• Sheryl L. Stratton, HUD Certified HOME Specialist
  HOME/Federal Compliance Officer
  Phone: 503-823-3259
  E-mail: Sheryl L. Stratton

For annual reporting only, please use e-mail: assetmanagement@pdc.us

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