Monitoring Agent Program
Monitoring Agents are entities tasked with ensuring ongoing compliance with affordable housing deed restrictions and regulations. They oversee various aspects of affordable housing, including ensuring income eligibility of tenants and homebuyers, checking that properties meet specific occupancy requirements, and verifying that the sale or resale of properties meet affordability guidelines.
The Executive Office of Housing (successor to the Housing Resources Commission) has promulgated regulations at 860-RICR-00-005 to implement an approved monitoring agent program established pursuant to R.I. General Laws 45-53-3.2 for municipally subsidized housing developments. These rules and regulations establish a process for the selection and approval of Monitoring Agents including, but not limited to, established terms of engagement, standards for approval and recertification, reporting requirements and minimum qualification for approved Monitoring Agents.
The Executive Office of Housing will be approving Monitoring Agent on a calendar year cycle, starting on January 1st. Simultaneous with this, the Office is issuing its first Monitoring Agent Guidebook, effective January 1st, which will provide standardized procedures and forms for approved monitoring agents. The Guidebook shall provide certified Monitoring Agents with guidance to aid in the execution of their monitoring responsibilities and to establish statewide consistent and transparent procedures for monitoring long-term affordable housing units in Rhode Island. High quality, standardized income certification and long-term monitoring are central to building and preserving low- and mod- income housing. While this guidebook will likely be refined and re-issued in January of each year, it should provide a basis for assuring procedures are consistent throughout the State, protecting the State affordable housing assets.
As you review the Guidebook, your thoughts on how we might strengthen and improve procedures are welcomed. Any comments can be sent to Michael Tondra at Michael.Tondra@housing.ri.gov (subject line: Monitoring Agent Guidebook).
RI Monitoring Agent Guidebook- This guidebook may be updated periodically as new/amended policies are implemented.
The Purchase Price Calculator for Affordable Homeownership is used to find the allowable maximum sales price for a deed-restricted affordable home.