The Ohio Housing Finance Agency (OHFA) is seeking public comment on its 2012-2013 Multifamily Bond Gap Financing Guidelines draft. Notably, the guidelines have been updated to include a competitive selection process. Applicants that meet the basic threshold and underwriting requirements will now be considered based on five areas: 1) local collaboration; 2) project characteristics; 3) economic characteristics; 4) market characteristics (for new rental units only); 5) rehabilitation characteristics (for existing rental units only). In the case of a tie between two or more applicants, the application with the lowest amount of Housing Development Assistance Program (HDAP) funding per unit will be selected. The guidelines include descriptions of the scoring criteria as well as a scoring chart with the breakdown of points available within each of the five areas.
To view the 2012-2013 Multifamily Bond Gap Financing Guidelines, click here.
OHFA requests all public comments to be sent by August 10, 2012, prior to the August 15, 2012 meeting of the Multifamily Committee. Comments may be submitted to Andrew Bailey, Program and Policy Manager at abailey@ohiohome.org or 614-664-5650.
