The Asset Management Team of the Mayor’s Office of Housing oversees and monitors the operation and financial performance of the affordable, multifamily rental housing projects that have been developed with financing from this office. As of 2009, our portfolio is comprised of 167 operational developments containing a total of 9,413 housing units, ranging in size from one unit to 341 units and in age from newly constructed to over 100 years old. These projects serve a variety of low-income populations: families, seniors, disabled individuals, veterans, chronically homeless people, transition-age youth, people with HIV/AIDS, among others.
The Asset Management Team's primary responsibility is to service the over 300 loans and grants provided for these projects to 65 non-profit and for profit organizations. The Team is also responsible for monitoring the compliance of each project with a host of obligations that borrowers and grantees agreed to as a condition of MOH’s financing. The Team's goal is to ensure that all projects financed by MOH are:
• serving the intended low-income target populations with affordable rents
• well-managed and provide decent, safe and sanitary housing
• financially sound and sustainable in the long term.
In performing its duties, the Asset Management Team acts as a steward of public resources and and works to mitigate risk to the City’s investments wherever possible. The Team strives to:
• be responsive and fair
• analyze thoroughly and comprehensively
• work collaboratively and transparently
• maximize efficiency
•build the capacity of the people and organizations that MOH supports.
COMPLIANCE MONITORING
Annual reporting and periodic inspections are the two primary tools that the Asset Management Team uses to monitor projects, assess their performance, and ensure ongoing compliance.
Annual Monitoring Report
The Annual Monitoring Report (AMR) collects data about project operations and fiscal performance. The report is required of most projects that have been financed by MOH. (Project owners should check the financing agreement with MOH to determine whether or not the requirement applies to a project.) The report is due on April 30 for projects whose business year ends on 12/31 and on October 31 for projects whose business year ends on 6/30, and it must be submitted in electronic form only to moh.amr@sfgov.org. For more information about the AMR, contact Mike McLoone.
AMR Forms for Reporting Year 2012 (7/1/2011 thru 6/30/2012 OR 1/1/12 thru 12/31/12)
Notice of Availability and Deadline
Project Activity Report
Owner Compliance Certification (Word)
NOTICE ABOUT NEW ANNUAL REPORTING REQUIREMENT FOR AFFORDABLE HOUSING PROJECTS FUNDED BY THE SAN FRANCISCO REDEVELOPMENT AGENCY Updated March 27, 2013
Periodic Inspections
The Asset Management Team conducts periodic inspections of projects financed by MOH to determine if they are being operated in compliance with the terms of the MOH financing agreements and applicable City and federal regulations. The inspections entail a physical inspection of the project, as well as an examination of tenant files and property management records. For more information on periodic inspections, contact Scott Madden.
MOH Inspection Forms - These are the forms used by MOH staff to conduct periodic inspections.
Site Inspection Notice (PDF)
Interview with Staff (PDF)
Property Inspection Form (PDF)
Tenant File Review Checklist (PDF)
Affordability Restrictions – Income Limits and Maximum Rents
To ensure that the rental housing financed by MOH is available to and affordable to low-income people, each project is subject to a set of affordability restrictions, which are enforced through a financing agreement and/or a deed restriction, often referred to as a “Declaration of Restrictions.” The affordability restrictions define the income limit(s) that apply to a project and set the maximum rents that can be charged, and among other things, they may also set limits on annual rent increases. Income limits and maximum rents change annually, based on data from the federal Department of Housing and Urban Development.
The limits and maximums for 2013 are effective January 1, 2013, see links below:
Guidance Letter (PDF) 2013 Income Limits (PDF) 2013 Maximum Rents (PDF)
2013 Income & Rent Limits for Projects Financed with Multifamily Housing Bonds (PDF)
More information on income and rent limits, including historic data, is available on the Income Limits and Rent Limits for Bond-Funded and MOH-Funded Affordable Rental Projects page.
Tenant Income Certifications
The following forms must be used to conduct initial and annual income certifications of prospective and existing tenants in MOH-funded projects.
Tenant Income Certification Form (PDF) Tenant Income Certification Questionnaire (PDF)
Tenant Income Certification Policy for MOH-Funded Tax Credit Projects (PDF)
Technical Guide for Determining Income and Allowances (PDF) - for HOME-funded projects only
Policy Documents
Program Income Overview (MS Word)
Residual Receipts Policy (PDF)
Residual Receipts Repayment Waiver Request Form (Excel) MUST BE SUBMITTED ON SAME DAY AS AMR SUBMISSION
Insurance Requirements (MS Word)
Asset Management Fee & Partnership Management Fee Policy (PDF)
LOAN SERVICING
Confirmations of Outstanding Loan Balances
Borrowers and their auditors may request Confirmations of Outstanding Loan Balances and other documentation by contacting Mike McLoone. Please allow 5 business days for a reply.
MOH Loan Modifications, Consents and Approvals
Borrowers who wish to modify their existing loans from MOH or who need our consent or approval for agreements or transactions with other parties must submit a Request for MOH Loan Modification and any supporting documents required by MOH staff. Such modifications include loan extensions, refinancing, subordinations, modifications to affordability restrictions and transfers of ownership. The cost of MOH staff and City Attorney staff time spent on the transaction is payable by the Borrower and is recouped through the Loan Modification Fee. For more information on loan modifications or consents and approvals, contact Mike McLoone.
