North Carolina Housing Finance Agency recently released a first draft of its 2018 QAP. The Agency asks interested parties top please submit comments by September 1, 2017 to rentalhelp@nchfa.com.
Changes include:
- Rehab Set-Aside: Awards from this set-aside are limited to one per principal.
- Award Limit Reduction: The Principal Maximum has been reduced to $1.6 million, while the per project maximum has been reduced to $900,000
- Agency Designated Boost: This boost has been reinstated for new construction projects committed to deeper income targeting
- Site Score Criteria:
- Distance for maximum amenity points for Small Town has been reduced to 1.5 miles
- Negative points will be assessed for sites deemed inappropriate for housing
- Rehab Project Criteria: Minimum increased to $25,000 per unit
- Operating Reserve for Bond Projects: Bond projects would be required to have an operating reserve equal to 6 months debt service and operating expenses.
