Applicants for Oregon Housing and Community Services’ 2018 Low-Income Housing Tax Credit (LIHTC) and HOME Investment Partnership Program (HOME) Notices of Funding Availability (NOFA) are facing challenges in getting cost estimates that satisfy the 3rd Party Cost Estimate requirement for New Construction Projects.
As such, the requirement for a 3rd Party Cost Estimate in the Project Development Manual (PDM) that applies to New Construction Projects (Ref: Chapter 3.1, Item N02) has been waived at time of application for the 2018 LIHTC NOFA# 4609 and the HOME NOFA #4610.
Once a project is selected for funding and approved by the Housing Stability Council, the 3rd Party Cost Estimate will be required as a condition of the Funding Reservation.
The errata sheet in the current PDM (version: 2017.12.01) will be updated to reflect this change.
Please direct all questions related to this advisory to Kevin Burgee. Kevin can be reached at kevin.burgee@oregon.gov or by phone at 503-986-6773.
