The Ohio Housing Finance Agency has released a final draft of its 2017 QAP (redline version here), to be presented to the Board this month. A summary of the most recent public comments as well as OHFA’s responses have also been made available. Several changes were made to the QAP as a result of the most recent comments. The following is a brief summary of significant changes:

  • Set-Aside: A “Revitalization Area” set-aside was added to the Family Housing new unit production pool. Allocation is available to one development in an area subject to a Revitalization
  • Basis Boost: Previously removed State Preservation Priorities and second priority Continuum of Care developments have been added back as eligible basis boost categories.
  • Senior Unit Mix: The maximum two bedroom limit eligible in a senior development has been increased from 20% to 50%.
  • AFFH: Language from HUD’s Affirmatively Furthering Fair Housing Rule has been incorporated into the QAP.

Changes mentioned in the following July 27th article remain in the QAP, except where explicitly altered by changes mentioned above.

 

July 27, 2016 –

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)