The Ohio Housing Finance Agency (OHFA) released its draft 2017 QAP including a redline version. Comments should be sent to [email protected]. The following is a non-exhaustive list of some of the proposed changes:
- Prevailing Wage Requirements Added:
- Applicants would be required to include in their proposal summaries whether Davis-Bacon Wage Rates or State Prevailing Wages apply to the development.
- AFFH Marketing Plan
- Clarifies that applications must include an Affirmative Fair Housing Marketing Plan, using a form provided by OHFA (OHFA Form PC-E45). Applicants who own property with project based Sec. 8, HUD Sec. 236, or USDA contracts could submit their current and approved Fair Housing Marketing Plan to satisfy the requirement.
- Equity Pricing Review Considerations Added
- If equity prices are significantly above or below the pool average without sufficient explanation as to why, OHFA would reserve the right to underwrite to the pool equity pricing average
- Basis Boost Policy Amended to be available for:
- New Family Developments in High Opportunity Census Tracts
- Permanent Supportive Housing Pool developments earning 25pts for Continuum of Care Priority
- Developments in Single Family Infill Development pool located in areas experiencing moderate, high, or very high rates of positive change.
- Would remove any categories eligible for basis boost in the past not listed above
- Set-Asides
- Family Housing: increased for high opportunity areas
- Family Housing: set-aside added for non-QCTs
- Family and Senior Pools Adjusted
- Includes Family pool funding target increase from $4M to $5M
- Substantial Rehabilitation Defined
- Generally, improvements must either involve replacement of the majority of two or more major building components (structural, electrical, plumbing, or HVAC) or improvements must be $20,000 or greater per unit ($15,000 for 4% credits).
- Net New Stable Job Growth Priority Eliminated (inability to obtain census tract level data)
