Housing Credit Compliance

Functions of the Division

The Compliance & Asset Management Division is responsible for conducting annual reviews of properties awarded housing credits as well as tri-annual on-site reviews of the property. Owners are required to maintain compliance with federal and state program requirements for at least 30 years. To determine compliance owners submit annual self-certifications of tenant information via THDA's internet-based reporting system, Tennessee Housing Online Monitoring and Application System (THOMAS). The Division reviews information submitted to determine compliance. All noncompliance is reported to the Internal Revenue Service ("IRS") on Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. Noncompliance is cured using the methodology described in the 8823 Guidebook issued by the IRS.

Compliance Forms

Compliance Bulletins, Notices or Letters

Tennessee Housing Online Management and Application System (THOMAS)

  • THOMAS Compliance Guide
  • For technical issues regarding THOMAS contact Chuck O'Donnell, Multifamily Programs Compliance Manager.

Certified Property Management (CPM)

Income Limits

  • Applicants should utilize this link to determine Income Limits.

Qualified Contract Process (QCP)

For more information, please contact Gwen Coffey, Director of Compliance & Asset Management Division

Resource Links