The New York Department of Housing and Community Renewal (DHCR) has released its proposed 2010 qualified allocation plan (QAP) for administering the federal low-income housing tax credit (LIHTC) program. The QAP sets forth important aspects of the program, including project eligibility and scoring criteria, project selection and allocation processes, and compliance monitoring requirements. A summary of significant changes to the proposed QAP is provided:
- The 2010 QAP adds a new threshold eligibility provision to require all projects to meet certain energy efficiency requirements, contained within DHCR’s annual Unified Funding Round Capital Projects RFP.
- Identifies which green building scoring criteria are mandatory and which must be addressed in order to obtain the ten points available.
- Allows projects to obtain points for meeting energy efficiency standards comparable to NYSERDA program standards, whether or not the project participates in a NYSERDA program.
- Adds a new scoring category (up to 3 points) for the rehabilitation of historic buildings.
- Allows projects that are part of a comprehensive community revitalization plan to obtain scoring points so long as the revitalization plan addresses any of the following factors, without having to address them all: employment, education, cultural or recreational opportunities.
DHCR will also extend all federal LIHTC program scoring changes noted above to the New York State LIHTC program, to maintain consistency between the two programs. Read More…
