February 25, 2011 | Wells Fargo Conference Center, Phoenix, AZ. Affordable housing preservation summit. Ruby Dhillon, Rental Programs Administrator. [email protected] (602) 771-1031. Overview of LIHTC Program 2011 Qualified Allocation Plan (“QAP”)
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2011 Qualified Allocation Plan (“QAP”)
Availability of NSP3 Funds – Rental FocusObjectives
Created within Section 42 of the Internal Revenue Code
Administered by each State’s housing finance agency – pursuant to QAP – www.azhousing.gov
Deadline: March 1, 2011, 4:00 pmLIHTC PROGRAM
After assessing the effects of foreclosure on the
State, this years QAP places an emphasis on
In the 2011 QAP, there are three (3) scoring areas
focusing on Housing Preservation:
growing trend in creating vibrant, livable
communities. It is the creation of compact, walkable
communities centered around high quality transit
In the 2011 QAP, there are two (2) scoring areas
focusing on TOD:
Risk Scores were developed by HUD to assist grantees in targeting the areas of greatest need within their jurisdictions. The State was given a Risk Score of 17.
ADOH received a Direct Grant of $5,000,000.00
NSP3 Substantial Amendment to Action Plan will be submitted to HUD on March 1, 2011.
ADOH anticipates investing approximately $3,500,000.00 of its NSP3 Allocation in the redevelopment of foreclosed, vacant or blighted multifamily properties.
ADOH anticipates investing approximately $1,000,000.00 of its NSP3 Allocation in the redevelopment of foreclosed, vacant or blighted single family properties to be targeted for individuals and/or families. Funds may be allocated as gap financing to supplement an award of Low Income Housing Tax Credits, meeting all NSP3 eligibility requirements.Neighborhood stabilization program - nsp3