AFFORDABLE HOUSING

Low Income Housing Tax Credit

FPI Management currently provides management and compliance services for over 40,500 units financed through the LIHTC Section 42 program. FPI has been providing comprehensive property management service for LIHTC communities since 1990. FPI has built this portfolio through successful lease-ups and management of new construction and acquisition/rehab projects. FPI provides affordable property management in SoCal, NorCal, PNW and across the nation, financed through LIHTC, HUD, Tax Credit, Bond, Sec. 8, etc.

The majority of the affordable portfolio includes the oversight of nonprofit co-managing general partners. FPI works closely with these partners to assure compliance with all programs as well as daily involvement with the applicable social service providers.

Affordable Programs

FPI Management began operations in 1968 developing properties under various HUD insured programs, including Project Based Section 8, Section 236 and USDA-Rural Development. Currently, FPI Management offers comprehensive management services for all types of affordable programs including:

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HUD Project Based Section 8, PRAC

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Low Income Housing Tax Credits (LIHTC)

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Home Funds/Bond

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USDA Rural Development 515

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Housing Finance Agency (CA & AK)

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RHCP

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Boutique Funding

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Program Layering

FPI Management is committed to processing accurate Housing Assistance Payment (HAP) and Rental Assistance for Owners. The Affordable AR and Compliance team interacts directly with USDA-RD, HUD and the Contract Administrator to ensure vouchers are processed timely and in compliance. Yardi Voyager and Real Page OneSite is the affordable software currently used to process Rental Assistance and HAP payments through the TRACS and MINC systems.

FPI Management maintains memberships in AHMA – Affordable Housing Management Association in various States as well as State and local Apartment Associations.

Tax Exempt Government Purpose

Bond-Financed Multifamily

The majority of FPI’s portfolio of LIHTC properties includes tax-exempt bond financing. On bond financed communities, FPI is responsible for income-qualifying, compliance monitoring and reporting to respective agencies. All Regional Portfolio Managers responsible for sites with bond financing are required to attend training covering all aspects of the regulatory agreement requirements.

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