PURPOSE: This rule establishes the compliance requirements for the Missouri Housing Trust Fund.

1. (1) Any rental development or development receiving a loan or grant shall charge gross rental rates no greater than thirty percent (30%) of the maximum eligible household income for the assisted unit, for a period of eighteen (18) years following final disbursement, or the length of the loan, whichever is greater, or for any longer period of time imposed by the commission.
2. (2) For every year during the compliance period indicated in the land use restriction agreement, the owner of the affordable housing units which receives financial assistance shall certify to the commission that all tenants renting claimed units are income eligible for affordable housing units and that the rental for each claimed unit is in compliance with the provisions of sections 215.035— 215.038, RSMo.
3. (3) For every year during the compliance period indicated in the final approval and certification by the commission of a housing provider organization which receives assistance to provide affordable housing units or affordable housing activities to eligible persons or families through a housing rent subsidy program or other eligible activity, the housing provider organization shall certify to the commission that all persons receiving affordable housing rent subsidies or other assistance are income-eligible for affordable housing units and the rental subsidies for each claimed unit is in compliance with the provisions of sections 215.035—215.038, RSMo.
4. (4) The commission is authorized, in its discretion, to audit the records and accounts of the owner of the affordable housing units or the housing provider organization providing assistance, or audit the records and accounts of the housing provider organization providing the affordable housing rent subsidies to tenants of claimed units or assistance to low income persons, all in order to verify the previously mentioned certifications in sections
5. (1) and (2).
6. (5) If at any time during the compliance period the commission determines a development or an affordable housing rent subsidy program or affordable housing activity for which a proposal has been approved is not in compliance with the applicable provisions of sections 215.035—215.038, RSMo, the commission may revoke the assistance provided.

AUTHORITY: section 215.030(5), (12) and (19), RSMo (1994).* Original rule filed Sept. 18, 1995, effective Feb. 25, 1996.

*Original authority 1969, amended 1974, 1982, 1985, 1989, 1993.