AHFA’s Multifamily Division will conduct a public hearing concerning the proposed 2017 HOME Investment Partnerships Program Action Plan and the Housing Credit Qualified Allocation Plan. A Public Hearing will be held on October 11th, and comment letters are due by November 10, 2016 and must be sent using the Public Commenting Form.
Changes made to this year’s QAP include the following:
Scoring
- Expanded Disability/Homeless – While the 2016 QAP awarded 1 point to projects setting aside 5% of total units to tenants with disabilities or homeless populations, the new proposal calls for the same clause or 2 points to projects devoting 10% of total units.
- Expanded Rent Affordability – The Rent Affordability section can now earn an applicant up to 15 points rather than 7. The extra 8 points come from clauses allowing for up to 3 points for projects with a commitment for additional subsidies from RAD funds and up to 5 points for projects with a commitment for the transfer/assumption of an existing USDA Rural Development 515 funds.
- Expansion of Project Type – the Project Type section now allows for a maximum of 10 points rather than 5 points. This includes allowing points for projects that have paid 30% of the HOME loan (rather than just 100%) or have received an AHFA approved 15 year extension. This section also increases the maximum points for rehab of buildings which qualify for the Alabama or Federal Historic Tax Credits from 1 point to 4 points.
Public Hearing Info:
WHEN: Tuesday, October 11, 2016, 10 am
WHERE: Staybridge Suites on Eastchase Parkway in Montgomery, AL
