1 how to apply workshop affordable housing preservation and production and special needs housing...
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How to Apply Workshop
Affordable Housing Preservation and Production
and Special Needs Housing Programs
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Background
• HOME Investment PartnershipEntitlements, Consortia, and statesDesigned to promote private/public partnerships
• Core Virginia HOME Programs include:Indoor Plumbing ProgramDown Payment Assistance ProgramAffordable Housing Production (AHP) ProgramSpecial Needs Housing (SNH) Program
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Anticipated (2008-09)
DHCD’s 2008 HOME Allocation $12,782,351
Anticipated Program Income $450,000
American Dream Downpayment Initiative (ADDI) $105,402
Total $13,337,753
Proposed Uses
Affordable Housing Program $3,800,000
Special Needs Housing $1,000,000
Homeownership (Downpayment Assistance) $2,354,116
American Dream Downpayment Initiative $105,402
Indoor Plumbing and Rehabilitation $4,500,000
Community Integration Pilot $100,000
CHDO Operating $200,000
State Administration $1,278,235
Total $13,337,753
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AHP and SNH Programs Funding Process
• Quarterly Competitive Process• Due Dates:
September 30, 2008 December 30, 2008 March 31, 2009 June 30, 2009
• Review Panel • Review Criteria:
Need (50 points) Feasibility (30 points) Capacity (20 points)
• Minimum of 60 points (threshold) needed for funding
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Funding Process:Threshold Requirements
• Submitted on time• Submitted in required format• Complete Application• Eligible Applicant• Eligible Project• No unresolved findings/issues• Minimum of 60 points needed
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Formatting & Logistics
• One Original & Four Copies (total of 5)• Three ring binders with dividers• 12 font • All pages numbered and attachments identified• Received at DHCD by 5:00 PM on the date due
Carefully READ the Program Guidelines
and the application instructions.
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Eligible Applicant • Non-profit or for-profit Housing Developer
• Project Owner, Developer, or Sponsor
• State –Certified CHDOs (Community Housing Development Organizations)
For more on becoming a state-certified CHDO go to:
http://www.dhcd.virginia.gov/CommunityCapacityBuilding/Office_Of_Community_Capacity_Building.htm
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Eligible Projects
• Rental or Homebuyer• Targeting low income households• Targeting low income special needs households• Minimum of five (5) units• Scattered site okay –units must be under
common ownership, management, & financing • Minimum of $15,000 per unit (or 3 out of 5 major
systems)
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Income Targeting (minimums)
• Homebuyer units:At least 60% of units must target households
at or below 60% Area Median Income (AMI)Remaining 40% of units okay at or below
80% AMI
• Rental units:– 20% of units at or below 50% AMI – Remaining 80% of units at or below 60% AMI
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Local Match Requirement
• 25 percent local match requirement
• 25% of total AHPP/SNH (HOME) program request
• Requirement applies to all HOME entitlements and any HOME consortium
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HOME Entitlements and Consortiums – 25 percent Match Required
Winchester Consortium – including: Alexandria
Winchester Chesapeake
Fredrick County Danville
Page County Hampton
Clarke County Lynchburg
Warren County Newport News
Shenandoah County Norfolk
Charlottesville Consortium - including Portsmouth
Charlottesville Richmond
Albemarle County Roanoke City
Fluvanna County Virginia Beach
Greene County Arlington County
Louisa County Chesterfield County
Nelson County Fairfax County -including
New River Consortium– including Fairfax City
Radford Falls Church
Giles County Henrico County
Montgomery County Prince William County –including
Pulaski County Manassas
Blacksburg Manassas Park
Christiansburg Bristol City (member of Tennessee consortium)
Suffolk Consortium –including
Suffolk
Isle of Wight
Franklin City
Southampton
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Eligible Costs
• Hard costs including land acquisition
• Up to 18 months of project reserves
• Soft project costs
• Utility connections
• Relocation costs
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Rental Projects
• Must meet all HOME program rules
• Fixed or floating units
• Income eligibility restrictions
• Rent restrictions
• Rents approved by DHCD
• Tenant least for at least one year
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Homebuyer Projects
• CHDO’s only
• Single family, condos, 2-4 unit attached
• Income eligibility requirements
• Must meet DHCD minimum design standards
• Sales price cannot exceed 95% of area median sales price
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Affordability Period
HOME Investment per Unit Length of the Affordability Period
Less than $15,000 5 years
$15,000 - $40,000 10 years
More than $40,000 15 years
New construction of rental housing 20 years
Refinancing of rental housing 15 years
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Monitoring and Compliance
• Monitoring at least:– Every two years for projects with 5 – 25 units– Annually for projects with more than 25 units
• Compliance verification– Rent Requirements– Occupancy Requirements– Tenant Eligibility– Property Standards
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Other Regulatory Requirements
• Environmental review– Required before release of HOME funds
• Labor relations– Including Section 3, Davis-Bacon, EEO
• Tenant participation and accessibility– Including Section 504 and Fair Housing
• Relocation
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Common Mistakes
• Underestimating operating expenses• Missing details in needs statement• No verification of site control• No confirmation of appropriate zoning• No documentation of other funding sources• Projects that are not “ready”• Incomplete submissions• Missing documentation
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Contact Information
Kevin Hobbs – Program Administrator
(804) 371.7120
Jan Hillman – Program Manager
(804) 371.7102