The North Carolina Housing Finance Agency has released a draft version of its 2011 Qualified Allocation Plan (QAP), and a draft of its design quality guidelines (Appendix B). Major revisions to the QAP include:
- Eliminates the $750,000 rehabilitation set-aside for Rural Development projects and pre-1992 tax credit projects;
- Disqualifies certain counties with small populations that received 2010 allocations from receiving 2011 allocations;
- Reduces the deadline extension for land use approvals and funding source commitments from 45 to 30 days;
- Amends criteria and point scoring for site evaluation;
- Eliminates point eligibility for FHLB Affordable Housing Program and PHA loans; and
- Increases the number of required qualified low-income units for a project from 16 to 24.
