OHFA recently released a second draft of the 2019 Technical Amendments to the Qualified Allocation Plan and a first draft of both the 2019 Underwriting & Implementation Guidelines and the Design and Architectural Standards. All three documents were drafted to minimize changes and promote as much consistency as possible into the next funding cycle.
OHFA is specifically seeking feedback on the Affordable Assisted Living policy contained in the Underwriting & Implementation Guidelines, including whether to reduce, modify, or eliminate limitations to the Medicaid Waiver component.
As it stands, when a project reaches stabilization (90% occupancy), no more than 50% of occupied units may be supported by Medicaid Assisted Living Waivers (“AL Waiver”). After stabilization, the AL Waiver ratio is permitted to fluctuate with market demand. Public Housing authorities or developments with project based subsidy are not subject to this requirement if rental subsidies are committed to all affordable assisted living units.
Further changes to this section include allowing out of state experience to count towards the required developer and operator experience threshold for assisted living projects.
Comments are due on all three draft publications no later than the close of business on August 2, 2018. OHFA intends to seek final Board approval for these documents in August. Please send feedback to [email protected].
