Florida Housing Finance Corporation posted the following answer to a question about RFA 2015-112: SAIL Financing of Affordable Multifamily Housing Developments to be used in Conjunction with Tax-Exempt Bonds and Non-Competitive Housing Credits.
Question: Please confirm that the capital needs assessment referenced in several places in the Required Construction Features [beginning on Page 99 of the RFA], will be ordered after the application is submitted and will be ordered by FHFC and that a capital needs assessment is not necessary to submit an application or required as an exhibit to an application made under RFA 2015-112.
Answer: A capital needs assessment is not part of the application or scoring process for RFA 2015-112. The Florida Housing-assigned Credit Underwriter will order a capital needs assessment for Applications selected for funding only if the proposed Development involves any rehabilitation units.
