oklahoma housing finance agency - .oklahoma housing finance agency (ohfa) ... size, location,

Download OKLAHOMA HOUSING FINANCE AGENCY - .Oklahoma Housing Finance Agency (OHFA) ... size, location,

Post on 25-Aug-2018

212 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

  • DRAFT-FOR DISCUSSION PURPOSES ONLY

    OHFA 2007 AHTC Application Instructions September 2006

    OKLAHOMA HOUSING FINANCE AGENCY Affordable Housing Tax Credits Program (AHTC) 2007 Application Instructions 100 N.W. 63rd St., Suite 200 P.O. Box 26720 Oklahoma City, OK 73126-0720

  • DRAFT-FOR DISCUSSION PURPOSES ONLY

    OHFA 2007 AHTC Application Instructions September 2006 2

    Table of Contents Qualified Allocation Plan (QAP)...................................................................................................................................4 Introduction ...................................................................................................................................................................4 Eligible Activities ..........................................................................................................................................................5 Geographic Use of Development Resources .................................................................................................................5 Application Questions ...................................................................................................................................................6 Technical Assistance Requests ......................................................................................................................................6 Timely Application Submission ....................................................................................................................................8 Application Fees ............................................................................................................................................................9 Post Application Fees ....................................................................................................................................................9 Late Fees......................................................................................................................................................................10 Cycles ..........................................................................................................................................................................10 Format .........................................................................................................................................................................11 Provide a Fully Responsive Application .....................................................................................................................11 AHTCs Available for Award.......................................................................................................................................12 Set Asides ....................................................................................................................................................................12 Development Award Maximums.................................................................................................................................14 Developer and Contractor Fee Limitations..................................................................................................................15 Review Report .............................................................................................................................................................16 Communications with Staff during Application Review.............................................................................................16 Communications with OHFA during Application Review..........................................................................................16 Preliminary Review Reports........................................................................................................................................17 Final Review Reports ..................................................................................................................................................17 Bond Financed Developments.....................................................................................................................................18 Rents ............................................................................................................................................................................18 Utilities ........................................................................................................................................................................19 Construction Standards................................................................................................................................................19 Progress Report ...........................................................................................................................................................19 Completion Timelines .................................................................................................................................................19 Compliance..................................................................................................................................................................20 Threshold Criteria........................................................................................................................................................21

    1. Notice Requirements ...................................................................................................................................21 2. Market Analysis...........................................................................................................................................22 3. Nonprofit Owners ........................................................................................................................................23 4. Resolution of Local Support ........................................................................................................................24 5. Capacity and Prior Performance ..................................................................................................................25 6. Acquisition Credits/Ten-Year Holding Requirement ..................................................................................26 7. Environmental Review ....................................................................................................................................26 8. Financial Feasibility and Viability..............................................................................................................27 9. Readiness to Proceed ..................................................................................................................................28 10. Public Housing Wait Lists ...........................................................................................................................30 11. Capital Needs Assessment ...........................................................................................................................30

    Selection Criteria .........................................................................................................................................................31 1. Income Targeting.............................................................................................................................................31 2. Term of Affordability ......................................................................................................................................32 3. Development Location and Housing Characteristics ..................................................................................32 4. Development Leverage................................................................................................................................33 5. Community Support.........................................................................................................................................34 7. Development Services .................................................................................................................................36 8. Applicant/Owner Experience...........................................................................................................................37 9. Management Experience..............................................................................................................................38 10. Tenant Special Needs Populations...............................................................................................................39 11. Tenant populations of individuals with children..........................................................................................40 12. Tenant Ownership........................................................................................................................................40

  • DRAFT-FOR DISCUSSION PURPOSES ONLY

    OHFA 2007 AHTC Application Instructions September 2006 3

    13. Preservation of affordable housing units from pre-1990 .............................................................................41 14. Negative Points............................................................................................................................................41 15. Tie Breaker/Eligible Basis per Unit..........................................................................................................

Recommended

View more >