Physical Site Inspection RFP - 2021
Click here to view the GHFA Physical Site Inspection RFP
The DCA RFP period for a CPA (as found below) has now closed
ANNOUCEMENT OF CPAs SELECTED FOR THE RFP
Effective 5/13/2019
Tidwell Group (Johns Creek, GA)
Novogradac & Company LLP (Alpharetta, GA)
*ARCHIVED RFP CONTENT*
Expired April 5, 2019
The Georgia Housing and Finance Authority (the "Authority" or "GHFA") seeks to contract with a Certified Public Accountant (“CPA”) to serve as a consultant (“Consultants” or “Consultant”) for the provision of calculating the Qualified Contract Price for GHFA’s Affordable Multifamily Tax Credit Program. The programs of GHFA are administered by the Georgia Department of Community Affairs (“DCA”), a legislatively created executive branch of State government.
DCA’s Office of Portfolio Management processes requests for Qualified Contracts which owners are permitted to submit after the commencement of the 15th year for all buildings in a property in the Low Income Housing Tax Credit program. DCA has undertaken the responsibility of engaging a CPA firm to follow the IRS formula to calculate and determine the Qualified Contract price as prescribed in Section 42 of the Internal Revenue Code (“§42”) and Treas. Reg. §1.42-18 (“§1.42-18”).
CLICK HERE FOR THE QUALIFIED CONTRACT RFP
QUESTIONS AND ANSWERS
Email all Qualified Contract RFP questions to Stephen.Vlkovic@dca.ga.gov
SUBMITTED Q&A FOR RFP PROPOSAL:
1. 3/14/2019
Q: What is the approximate volume of projects DCA will be requesting?
A: Over the last 30 months, DCA has averaged over 2 final QC requests per month. The number of properties in Georgia completing year 14 is substantially higher than in past years because of the above average number of 9% and Bond/4% deals back in the years 2001-2004. So the number of requests could possibly increase for that reason. Additionally, DCA recently posted a QC policy that is not yet effective, which could have some impact on the number of filings.
2. 3/21/2019
Q: Will the CPA firm that you hire be reviewing/analyzing the Qualified Contract price calculation performed by a 3rd party CPA that was submitted to DCA by the developer or actually preparing a Qualified Contract price calculation?
A: Under the currently posted RFP, the 3rd party CPA(s) will actually be preparing a Qualified Contract price calculation, and not reviewing another CPA’s calculation. The selected CPA firm will also be required to review any disputed items within the IRS formula used to determine the Qualified Contract prices that may arise during due diligence, such as values of the low-income and/or market rate portions of the property.
