Upon conclusion of the project the completion, certification will be submitted through FHLBI.GIVES. Following review and approval of this certification by FHLBank Indianapolis staff the project will move into initial monitoring. The initial monitoring will also be completed through FHLBI.GIVES and consists of a review of the following:
- Services and activities provided to renters or homeowners
- Project financials including final sources and uses, income targeting and 15-year operating projections
- Final cost validation including final contractor’s sworn statement, accountants cost certification, invoices, receipts, payment verifications, closing statements, etc.
- Resident income/rent verification
- Finished condition and description of property
- Fulfillment of scoring commitments
Homeownership projects are considered complete when the last home in the project has closed with the homebuyer or the rehabilitation of the last home in the project has been completed and all AHP subsidy for the project is fully disbursed. Rental projects are considered completed when the last unit of the project is certified for occupancy, or the rehabilitation planned is fully completed and all the AHP subsidy for the project is fully disbursed.