Tennessee Housing Development Agency recently published a notice of public hearing along with preliminary proposed changes for the 2018 QAP.
The public hearing will be held on April 24, at 10am CDT in the Andrew Jackson Building (held concurrently with the Developer Forum). The meeting will be the first chance to make public comment regarding the preliminary proposed changes and individual’s comments are limited to five minutes. To secure priority to speak, fill out the form offered in the notice. The deadline to submit written comments is May 1, 2017.
Here is a brief summary of the proposed changes:
1. Remove TN and overall developer experience points
2. Update data for County Needs Score
3. Add opportunity score by census tract
4. Reduce RAD set-aside from 30% to 15%
5. Remove Opt-Out provisions for HAP contract developments
6. Add Total Cost Per Unit Cap
a. Urban New Construction: $175,000/unit
b. Urban Other: $115,000/unit
c. Rural/Suburban New Construction: $155,000/unit
d. Rural/Suburban Other: $90,000/unit
7. Make Scholar House part of Innovation Set-Aside – each year the innovation set-aside will have a theme with 2018 being scholar house; up to 3 projects per year
8. Rural Areas: allow non-urban new construction to participate in general pool and remove rural cross-counting provisions
9. Allow more flexibility for owners to address non-compliance issues
NH&RA’s Tennessee Developers Council is hosting a call next week to discuss the changes and prepare public comment.
