The New Mexico Mortgage Finance Authority (MFA), has released the 2012 draft Qualified Allocation Plan (QAP) for public comment. Some notable changes include:

  • A Market Study deposit, due upon submission of the HTC application, has increased from $5,300 to $5,500;
  • A Monitoring and Compliance fee, due annually by January 31st each year of the Extended Use Period, has increased from $40/set aside unit/per year to $45/set aside unit/per year;
  • An application or document extension fee, due at the submission of request to extend has increased from a flat rate of $500 to $500 per week of requested extension;
  • Scoring for nonprofits, Local Housing Authorities (LHA), and local Tribally Designated Housing Entities (TDHE) has been split up into two point tiers. Tier one will qualify for 10 points and includes local nonprofits, LHAs and TDHEs that have a net worth of at least $1,000,000. Tier two will qualify for a 5 points and includes local nonprofits, LHAs and TDHEs that have a net worth of at least $250,000;
  • Scoring for conversion plus rehabilitation projects are now qualified to receive 5 points, down from 15 points in the 2011 QAP;
  • Scoring for projects which are located in and contribute to a Concerted Community Revitalization Plan will now receive 2 points, down from 5 points in the 2011 QAP;
  • If Federal Historic Tax Credits are included in the financing structure of the Project, Part 2 of the National Park Service approval of the Project’s Historic Certification Application must be obtained prior to Carryover;
  • Any application for a project awarded tax credits in 2012 or after which failed to meet any development deadlines will receive negative 5 points.

The 30-day public comment period begins on September 2, 2011 and continues through 5:00 p.m. on October 2, 2011. A public hearing to discuss the draft 2012 QAP is being held on September 7, 2011 from 10:00 am to 12:00 pm at the New Mexico Mortgage Finance Authority Board Room located at 344 4th Street SW Albuquerque, NM. Written comments are also being accepted by mail, courier service, or in person. Interested parties may deliver comments to MFA at the following address:

New Mexico Mortgage Finance Authority
Attn: Dan Foster
344 4th Street SW
Albuquerque, NM 87102

To read the New Mexico draft 2012 QAP and other supporting documents, click here.