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Ill: Newly Converted or Rehabilitated Project Information 1. Is the project a conversion within the past 3 years of an existing structure that was used as an apartment, hoteVresort, retail or professional
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How to fill out units at-risk of conversion

01
Identify the units that are at-risk of conversion based on the criteria set by the organization.
02
Determine the current status of each unit in terms of conversion risk.
03
Update the relevant database or spreadsheet with the information on units at-risk of conversion.
04
Monitor and review the status of these units regularly to track any changes in their conversion risk.
05
Take necessary actions to mitigate the conversion risk for these units, if possible.

Who needs units at-risk of conversion?

01
Real estate developers looking to convert rental units into condos or other types of housing.
02
Investors interested in purchasing or financing properties that may be converted in the future.
03
Government agencies overseeing urban planning and development projects.
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Units at-risk of conversion refer to the number of housing units that are at risk of being converted from affordable housing to market rate housing, often due to expiring affordability restrictions or other regulatory changes.
Property owners, developers, and entities that manage affordable housing projects are typically required to file reports on units at-risk of conversion, particularly if they are receiving government funding or benefits.
To fill out the units at-risk of conversion, one must provide detailed information about each relevant housing unit, including its current affordability status, the reason for the risk of conversion, and any applicable deadlines for reversion to market rate.
The purpose of reporting on units at-risk of conversion is to maintain oversight on the availability of affordable housing and to ensure transparency around potential losses of affordable units in the housing market.
The report must include the address of the property, the number of units at-risk, current and projected affordability status, dates of any relevant contracts or loans, and any changes to the property ownership or management.
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