Team Spotlight: Compliance Asset Management

Each month, we highlight the work of a team in the Multifamily Housing Unit. In May, we’re featuring the Compliance Asset Management Team, led by Teri Lawless.

After an affordable housing investment is placed in service, it’s transferred to our Compliance Asset Management (CAM) team. The team ensures that our Housing Trust Fund (HTF), HOME and NHTF portfolio are serving communities with high quality affordable housing for generations.

2023 saw 40 communities placed in service, and the CAM team oversees contract and programmatic compliance for the whole term of contract, between 20 and 50 years. As of the 1^st quarter 2024, there are 84 housing projects close to opening and becoming part of the portfolio. Currently, CAM oversees contract and programmatic requirements for 1,234 contracts, of which 6% are federal HOME /National Housing Trust Fund (NHTF) programs and remaining are State HTF.

The CAM Team does this work by performing Annual Reporting Reviews (ARRs) and by conducting onsite inspections, also known as monitoring. Monitoring inspections include reviewing property documents, annual reporting systems, tenant files, building/unit inspections per Uniform Physical Condition Standards (UPCS), and completing a final report of each inspection. ARRs are desk reviews of property documents and reporting systems. In both ARRs and monitoring, CAM provides technical assistance support to contractors.

The 2024 monitoring season began April 1^st. Between Sarah Dunn, Compliance Asset Management Lead, and Josh Peck and Tracy Aiken, Compliance Asset Managers, the team has visited over 40 projects in April. With a full inspection team, it’s anticipated we’ll be able to complete over 240 inspections by the end of October.

For every contract and/or contract change, Sarah Blackburn, CAM Data Specialist, updates the project in WBARS (Web-Based Annual Reporting System). Sarah B. oversees the Commerce WBARS inbox (wbars@commerce.wa.gov), provides WBARS technical assistance to contractors, and ensures data is correct in MHU systems.

The CAM Team will be welcoming Susan Bostain on May 15^th as a Compliance Asset Manager, and our team will be fully staffed.

I’ve been the CAM Supervisor for a little over a year and it’s been an absolute honor supervising the CAM Team! Everyone on this team is dedicated to providing excellent internal and external partnerships and taking compliance work to a new level. This work is hard, and we accomplish it with resourceful strategies and great teamwork!

– Teri Lawless, Compliance Asset Management Supervisor

Application Workshop Trainings Now Available

Looking for guidance on how to complete a 2024 application and the criteria used to evaluate applications for multifamily/rental housing projects seeking capital funding? Agenda and supporting materials will be available on the Department of Commerce Box as the events approach.

Four in-person workshops are currently scheduled:

1. Seattle – May 13th, Pacific Tower – Panoramic Room (Workshop: 11 am to 2pm. Q&A: 2 pm to 3 pm.)
2. Vancouver – May 20th, Clark College – Penguin Union Building Room 258C (Workshop: 11 am to 2 pm. Q&A: 2 pm to 3 pm.)
3. Spokane – June 5th, Spokane Community College – Sasquatch Room (Workshop: 11 am to 2 pm. Q&A: 2 pm to 3 pm.)
4. Yakima – June 10th, Yakima Arboretum – Gardenview Room (Workshop: 12 pm to 3 pm. Q&A: 3 pm to 4pm.)

Register now for the in-person workshops.

Virtual workshops will be available during 2024 application rounds. Check our Resources & Trainings page for the latest information.

Handbook Update Process

Over the course of 2024, the Housing Trust Fund will be providing multiple opportunities to get oriented to and provide input on the updates to the HTF Handbook, as we engage in a multi-part chapter-by-chapter public review process.

Register now for the public review meeting of changes to Chapter 5 on May 14, 2024 from 1:00 pm to 2:30 pm via Zoom. You will receive an email with instructions on joining the meeting after registering.

You can always find the most up-to-date information on the Handbook review process on the Resources & Trainings page on the Housing Trust Fund website.

We’re Hiring!

We currently have two Project Management openings in the federal team. The State Housing Program Manager, leading our resource allocation of state funds, will be advertised and available in May. Our Administrative Assistant 3 position will soon be posted. Find the latest information on the  Jobs at Commerce page.

Housing Trust Fund in the Press

Since 1986, the state’s Housing Trust Fund has invested over $2 billion in capital funding and helped build or preserve more than 58,000 affordable housing units statewide.

The Washington Legislature makes biennial appropriations in the capital budget and directs the Department on how to invest the funds. The Housing Trust Fund provides capital financing through loans or grants to affordable housing projects through annual competitive application cycles.

You can always find the latest information on the Housing Trust Fund at commerce.wa.gov/htf. We welcome feedback on the Housing Trust Fund newsletter at HTFStakeholderCommunications@commerce.wa.gov.