On March 1st, 2023 Mills Property Management team members were invited to participate in a virtual session with the National Housing Conference, offices of Senator Thune & Senator Rounds’ legislative teams, along with state agencies, management companies, and developers in South Dakota. The session agenda included the need to streamline compliance and monitor practices for a variety of Federally funded programs.
Out of only two management companies in the state invited to participate, Mills Property Management had the privilege to provide feedback on our current concerns managing multi-layered program properties in South Dakota.
Some topics that we discussed were:
- What programs create barriers for rehabilitation and development
- REAC transition to NSPIRE
- Student Rule variations
- USDA realignment concerns
- Additional barriers that create burden in maintaining compliance with affordable housing regulations
Mills Property Compliance Specialists have been preparing for the HOTMA (Housing Opportunity Through Modernization Act of 2016) changes that will be effective January 1, 2024 which will affect certain specific provisions of HUD (Tax Credit, HTF, & HOME). Team members are attending the new training sessions recently provided by HUD and researching the best practices to streamline the process for all affected properties. Mills Property Management currently staffs seven Certified Occupancy Specialists with expertise and many years of experience in HUD and Rural Development programs.
We are proud to be a recognized leader in South Dakota affordable property management. If you ever have specific questions about your affordable program property, please reach out and we would be happy to discuss!