Document a long-term plan that would allow the property to be sustainable without additional funding support in the future. MONITORING/REPORTING Quarterly status reports are required from all HTF funded projects during the development (from the time funds are awarded until completion and occupancy of the project). The quarterly reports will include, at a minimum, the status of funds expended and progress to date. A final budget must be prepared and submitted at the time of project completion. The reports will be submitted to ARCH, which will use them to determine if satisfactory progress is being made on the project. Additionally, ARCH staff will make a visual inspection of the project site at least once during this period. After all HTF funds have been expended, the project sponsor or manager will submit to ARCH annually a report summarizing the number of project beneficiaries, housing expenses for the target population, and the proportion of those beneficiaries that are low- and/or moderate-income, and that meet other target population criteria as described in the original project proposal. In addition for projects with loan payments, financial information must be reported annually which will be used for assessing contingent loan payments and project health. All projects will also be evaluated periodically for long term sustainability. See the Term Sustainability Monitoring” section on the ARCH website. “Long The annual reports will be required for the full duration of affordability.
Document a long-term plan that would allow the property to be sustainable without additional funding support in the future. MONITORING/REPORTING Quarterly status reports are required from all HTF funded projects during the development (from the time funds are awarded until completion and occupancy of the project). The quarterly reports will include, at a minimum, the status of funds expended and progress to date. A final budget must be prepared and submitted at the time of project completion. The reports will be submitted to ARCH, which will use them to determine if satisfactory progress is being made on the project. Additionally, ARCH staff will make a visual inspection of the project site at least once during this period. After all HTF funds have been expended, the project sponsor or manager will submit to ARCH annually a report summarizing the number of project beneficiaries, housing expenses for the target population, and the proportion of those beneficiaries that are low- and/or moderate-income, and that meet other target population criteria as described in the original project proposal. In addition for projects with loan payments, financial information must be reported annually which will be used for assessing contingent loan payments and project health. All projects will also be evaluated periodically for long term sustainability. See the “Long Term Sustainability Monitoring” section on the ARCH website. The annual reports will be required for the full duration of affordability.