| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
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| #7129 | Closed | public | Multifamily | Les Sparks |
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I had lunch with a lender friend and she inquired about a client which closed their HUD financing in December 2017 for new multi-family construction. Given it is new construction, other than the cost certification audit, is there a HUD audit reporting requirement or is it deferred until the property is operating? |
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From Les Sparks: There are no audit requirements until after the cost certification audit. The cost-certification cut-off date, of course , determines the date of the first reporting period. If it is less than 120 days, the audit requirement will move into the next period – 2019. However, you have to make that request in the FASSUB system. Les |
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