How to apply workshop
Download
1 / 19

How to Apply Workshop - PowerPoint PPT Presentation


  • 279 Views
  • Updated On :

How to Apply Workshop Affordable Housing Preservation and Production and Special Needs Housing Programs Background HOME Investment Partnership Entitlements, Consortia, and states Designed to promote private/public partnerships Core Virginia HOME Programs include: Indoor Plumbing Program

Related searches for How to Apply Workshop

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'How to Apply Workshop' - Faraday


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
How to apply workshop l.jpg

How to Apply Workshop

Affordable Housing Preservation and Production

and

Special Needs Housing Programs


Background l.jpg
Background

  • HOME Investment Partnership

    • Entitlements, Consortia, and states

    • Designed to promote private/public partnerships

  • Core Virginia HOME Programs include:

    • Indoor Plumbing Program

    • Down Payment Assistance Program

    • Affordable Housing Production (AHP) Program

    • Special Needs Housing (SNH) Program


Ahp and snh programs funding process l.jpg
AHP and SNH Programs Funding Process

  • Quarterly Competitive Process

  • Due Dates:

    • September 30, 2008

    • December 30, 2008

    • March 31, 2009

    • June 30, 2009

  • Review Panel

  • Review Criteria:

    • Need (50 points)

    • Feasibility (30 points)

    • Capacity (20 points)

  • Minimum of 60 points (threshold) needed for funding


Funding process threshold requirements l.jpg
Funding Process:Threshold Requirements

  • Submitted on time

  • Submitted in required format

  • Complete Application

  • Eligible Applicant

  • Eligible Project

  • No unresolved findings/issues

  • Minimum of 60 points needed


Formatting logistics l.jpg
Formatting & Logistics

  • One Original & Four Copies (total of 5)

  • Three ring binders with dividers

  • 12 font

  • All pages numbered and attachments identified

  • Received at DHCD by 5:00 PM on the date due

    Carefully READ the Program Guidelines

    and the application instructions.


Eligible applicant l.jpg
Eligible Applicant

  • Non-profit or for-profit Housing Developer

  • Project Owner, Developer, or Sponsor

  • State –Certified CHDOs (Community Housing Development Organizations)

    For more on becoming a state-certified CHDO go to:

    http://www.dhcd.virginia.gov/CommunityCapacityBuilding/Office_Of_Community_Capacity_Building.htm


Eligible projects l.jpg
Eligible Projects

  • Rental or Homebuyer

  • Targeting low income households

  • Targeting low income special needs households

  • Minimum of five (5) units

  • Scattered site okay –units must be under common ownership, management, & financing

  • Minimum of $15,000 per unit (or 3 out of 5 major systems)


Income targeting minimums l.jpg
Income Targeting(minimums)

  • Homebuyer units:

    • At least 60% of units must target households at or below 60% Area Median Income (AMI)

    • Remaining 40% of units okay at or below 80% AMI

  • Rental units:

    • 20% of unitsat or below 50% AMI

    • Remaining 80% of units at or below 60% AMI


Local match requirement l.jpg
Local Match Requirement

  • 25 percent local match requirement

  • 25% of total AHPP/SNH (HOME) program request

  • Requirement applies to all HOME entitlements and any HOME consortium


Eligible costs l.jpg
Eligible Costs

  • Hard costs including land acquisition

  • Up to 18 months of project reserves

  • Soft project costs

  • Utility connections

  • Relocation costs


Rental projects l.jpg
Rental Projects

  • Must meet all HOME program rules

  • Fixed or floating units

  • Income eligibility restrictions

  • Rent restrictions

  • Rents approved by DHCD

  • Tenant least for at least one year


Homebuyer projects l.jpg
Homebuyer Projects

  • CHDO’s only

  • Single family, condos, 2-4 unit attached

  • Income eligibility requirements

  • Must meet DHCD minimum design standards

  • Sales price cannot exceed 95% of area median sales price



Monitoring and compliance l.jpg
Monitoring and Compliance

  • Monitoring at least:

    • Every two years for projects with 5 – 25 units

    • Annually for projects with more than 25 units

  • Compliance verification

    • Rent Requirements

    • Occupancy Requirements

    • Tenant Eligibility

    • Property Standards


Other regulatory requirements l.jpg
Other Regulatory Requirements

  • Environmental review

    • Required before release of HOME funds

  • Labor relations

    • Including Section 3, Davis-Bacon, EEO

  • Tenant participation and accessibility

    • Including Section 504 and Fair Housing

  • Relocation


Common mistakes l.jpg
Common Mistakes

  • Underestimating operating expenses

  • Missing details in needs statement

  • No verification of site control

  • No confirmation of appropriate zoning

  • No documentation of other funding sources

  • Projects that are not “ready”

  • Incomplete submissions

  • Missing documentation


Contact information l.jpg
Contact Information

Kevin Hobbs – Program Administrator

(804) 371.7120

[email protected]

Jan Hillman – Program Manager

(804) 371.7102

[email protected]


ad