Real estate, primarily multi-family housing, has been a primary focus of our practice since the early 1990s.
At Wieland Wallace Inc., we understand this specialized industry because we work in it every day. We perform the audits of over 50 multi-family developments each year. Some are as a small as 25 units, many are several hundred to over 500 units.
Our clients need audits for a variety of reasons, often a combination thereof. Most have programs with the U.S. Department of Housing and Urban Development (HUD) and/or the Illinois Housing Development Authority (IHDA). Many are financed with Low Income Housing Tax Credits (LIHTC) or government issued bonds.
For-profit entities typically require audits of their developments be performed in accordance with the Consolidated HUD Audit Guide and/or with requirements of the Illinois Housing Development Authority. Nonprofit organizations sponsoring developments typically require Uniform Guidance Single Audits and also file their financial statement with HUD.
Whatever the service you need for your real estate development, we likely have extensive experience with it. We will provide the services you need efficiently and effectively and at very reasonable fees. We have extensive experience in all facets of the industry including the following:
- Low Income Housing Tax Credit financial reporting, auditing and income tax preparation
- Audits performed in accordance with the Consolidated HUD Audit Guide
- Audits performed in accordance with IHDA’s Financial Reporting Guidelines
- Single Audits in accordance with the Uniform Guidance
- Electronic financial submissions to HUD’s Real Estate Assessment Center
- Cooperatives with HUD and other programs requiring audits
