What data must be verified to ensure compliance with LIHTC standards during recertification?

To ensure compliance with the Low-Income Housing Tax Credit (LIHTC) standards during recertification, verifying tenants' current income is essential. This process ensures that the tenants still meet the income eligibility requirements set forth by the program. LIHTC provisions are specifically designed to assist low-income households, and as such, it is crucial to confirm that tenants’ incomes remain within the specified limits.

Regular income verification allows housing authorities and property managers to determine if tenants still qualify for tax credits and, thus, continue to receive the benefits associated with LIHTC properties. Without this verification, there is a risk of non-compliance, which could lead to repercussions for the property owner and jeopardize the affordable housing incentive.

Other factors, such as local housing market trends, property location demographics, and building age and condition, while important for overall property management and analysis, do not directly impact the eligibility of tenants for the LIHTC program during recertification. The focus should be strictly on tenant income to maintain compliance with the program's core requirements.