The North Carolina Housing Finance agency has released the first draft of its 2012 QAP as well as a summary of major revisions to the 2012 plan. Significant changes include:
- a reduction of the rehabilitation set aside threshold from 20 percent to 10 percent
- a funding limit to one project award per developer if that developer received project funding for more than one project in 2011,
- setting an overall award limit to any one principle to two projects or a total of $1.5 million in tax credits
- a revision to the maximum project limit to $900,000 (a reduction from $1.3 million)
- elimination of the agency designated basis boost
- a decrease in the number of counties eligible for credits
- increases in various application and monitoring fees
To read the full 2012 draft, click here and to read the full list of major revisions, click here. NCHFA has also proposed changes to its Design Quality Standards and Requirements (Appendix B).
Comments may be submitted to the North Carolina Housing Finance Agency via mail or email at:
mail: NC Housing Finance Agency
attn Rental Investment
3508 Bush Street
Raleigh, NC 27609
email: rentalhelp@nchfa.com
