The Oregon Department of Housing and Community Services (OHCS) recently released its draft 2013 Qualified Allocation Plan (QAP), and proposed Notice of Funding Availability (NOFA). The agency plans to present these proposals at the State Housing Council meeting on March 1 which will also kick-off the official 30-day public comment period.
One of the major new components to the documents is the updated developer fee policy. The draft language states that OHCS will consider developer fees in the aggregate, up to 15% of Total Project Costs less reserves, Donations, partnership organizational fees, broker’s fees associated with selling LIHTCs, and less the requested developer fee amount. For this purpose, developer fees shall be deemed to include all consultant fees (other than arm’s length architectural, engineering, appraisal, market study and syndication costs), and all other fees paid in connection with the project for services that would ordinarily be performed by a developer, as determined by OHCS.
Those interested are invited to share comments with David Castricano at David.Castricano@hcs.state.or.us or a Regional Advisor.
Click here to view the draft 2013 QAP.
Click here to view the draft developer fee language.
