Edgewood has an experienced Compliance Department that implements stringent procedures and conducts on-going training programs to ensure strict compliance for all regulatory programs. The Compliance Department also provides innovative solutions to complex regulatory issues.
We take great pride in providing compliance services to conventional, tax-credit and federally assisted properties. Edgewood’s decades of experience serving a variety of properties has resulted in one of the best and most recognized compliance programs in the industry.
In order to meet the strict criteria of compliance, Edgewood created a full Tax Credit Compliance Program that provides associates extensive training on tax credit rules & policies. A detailed Low Income Housing Tax Credit Manual was created as a resource and training tool. One-on-one training occurs for new associates, and all associates participate in on-going training as changes and updates occur to the policies. Edgewood supplements and enrolls our associates in tax credit seminars given by reputable organizations such as Spectrum, NAHMA, NCHM and Cohen|Reznick. All on-site associates are required to achieve the Housing Credit Certified Professional (HCCP) designation from the National Association of Home Builders, Certified Professional of Occupancy (CPO) designations from the National Assisted Housing Management Association, and the Specialist in Housing Credit Management (SHCM) designation from the National Assisted Housing Management Association. Edgewood ensures ample opportunity to receive these certifications by sponsoring training classes held by certified HCCP, BOS, COS, CPO and SHCM instructors.
As part of Edgewood’s Tax Credit Compliance Program, the Compliance Officer provides routine tax credit compliance audits for all tax credit properties. Edgewood’s Compliance Training Department reviews LIHTC move-in certifications to ensure that the residents are qualified to lease at the properties. The Compliance Training Department reviews income documentation as well as the certification worksheets to determine that the resident family is qualified. Most reviews are done within 24 hours of receipt utilizing our electronic Document Management System to expedite move-ins and ensure occupancy goals are met. In addition, the Compliance Training Department reviews, on an as-needed basis, annual re-certifications and also monitors that all annual re-certifications are completed on time.
Edgewood’s Compliance Department is also responsible for Edgewood’s regulatory compliance with all Federal programs including Section 8, Section 236, Section 221(d)(3), Section 221(d)(4), Section 223(a)(7), Section 202, HOME, Rural Housing and Public Housing. The Compliance Department associates perform regular testing of initial certifications and annual recertifications for all the above programs.