February 25 2011 wells fargo conference center phoenix az
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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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February 25 2011 wells fargo conference center phoenix az

February 25, 2011 | Wells Fargo Conference Center, Phoenix, AZ

Affordable housing preservation summit


Ruby dhillon rental programs administrator

Ruby Dhillon, Rental Programs Administrator

[email protected](602) 771-1031


Objectives

Overview of LIHTC Program

2011 Qualified Allocation Plan (“QAP”)

Availability of NSP3 Funds – Rental Focus

Objectives


Lihtc program

A housing subsidy program for rental housing

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 pm

LIHTC PROGRAM


2011 qap emphasis

2011 QAP EMPHASIS

After assessing the effects of foreclosure on the

State, this years QAP places an emphasis on

Acquisition/Rehab.

In the 2011 QAP, there are three (3) scoring areas

focusing on Housing Preservation:

  • ACQ/REHAB

  • ACQ/DEMO – New Construction

  • ACQ/DEMO – Defunct Property


2011 qap emphasis1

Transit Oriented Design (“TOD”) is a new and fast

growing trend in creating vibrant, livable

communities. It is the creation of compact, walkable

communities centered around high quality transit

systems.

In the 2011 QAP, there are two (2) scoring areas

focusing on TOD:

  • Quality Bus Transit

  • High Capacity

2011 QAP Emphasis


2011 emphasis sustainable development

2011 EmphasisSUSTAINABLE DEVELOPMENT


Neighborhood stabilization program nsp3

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


Ruby dhillon rental programs administrator ruby dhillon@azhousing gov

QUESTIONS

Ruby DhillonRental Programs [email protected]


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