A. The Housing
Resources Commission will accept applications to be approved as a qualified
Monitoring Agent no less than once every calendar year, on forms to be adopted
by the HRC.
B. In order to be
approved, Monitoring Agents must demonstrate they can minimally meet guidelines
for qualifications established by the HRC which shall include, but not be
limited to:
1. Working knowledge of applicable
regulations, rules or guidelines, including those relating to fair
housing;
2. General knowledge of
subsidy programs and associated requirements;
3. Experience reviewing income and asset
documentation to determine eligibility under applicable programs;
4. Experience working with mortgage lenders
and general knowledge of mortgage loan documents to be reviewed during sales or
refinancing transactions;
5.
Experience working with developers, homeowners, listing agents, municipal
officials and closing attorneys in the sale and resale of units subject to
affordable housing restrictions;
6.
Experience working with owners, listing agents and property management firms in
the lease up and annual renewal of tenants in units subject to an Affordable
Housing Restriction;
7.
Demonstration of ability to successfully resolve issues of non-compliance with
an Affordable Housing Restriction;
8. Demonstrated capacity to sustain
monitoring services during their contracted period;
9. Demonstrated authorization to transact
business in the State of Rhode Island;
10. Compliance with any and all HRC required
trainings;
11. Compliance with
insurance requirements as determined by the HRC;
12. Compliance with any applicable audit or
financial review findings; and
13.
Possession of such knowledge, skills, experience, administrative capacity,
and/or other applicable competence for the performance of required duties as
shall be established from time to time by the HRC.
C. The HRC will establish standardized
guidelines and criteria for applications to become an approved monitoring agent
pursuant to this regulation, and standardized guidelines for review of those
monitoring agent applications deemed complete.
D. The HRC will establish guidelines for the
recertification and/or decertification of Monitoring Agents as appropriate, the
decisions for which will be within the sole discretion of the HRC.
