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Presenter Name in bold , position, if used, in italics

Federal Preservation Lottery Backed Bonds. Presenter Name in bold , position, if used, in italics Oregon Housing and Community Services or other affiliate name Date (optional) Event name or location (optional). May 3 , 2019 Housing Stability Council. Presentation Agenda. NOFA Overview

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Presenter Name in bold , position, if used, in italics

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  1. Federal Preservation Lottery Backed Bonds • Presenter Name in bold, position, if used, in italics Oregon Housing and Community Services or other affiliate name Date (optional) Event name or location (optional) • May 3, 2019 • Housing Stability Council

  2. Presentation Agenda • NOFA Overview • Policy Outcomes • Fund Reservations • QAP

  3. NOFA Overview Membership and Mission • $20 Million in Lottery Backed Bonds for Preservation • Federal Project Based Rent Assistance (HUD, USDA Rural Development and Public Housing Authorities) • Housing Stability Council Adopted Framework in Oct. 2019 • Allocated resources: $8.33 million for each of Urban / Rural / Rental Assistance Demonstration • Included tiered priorities for project selection including elements of risk of loss, impact to tenants, impact to community • Equity considerations: MWESB, DEI, Affirmative Marketing upon unit turnover • QAP

  4. Policy Outcomes Membership and Mission • RAD / Section 18: • Able to fund all four applicants in this set-aside • Leveraged OAHTC • Rural Projects: • Able to fund one application of the two that applied in this set-aside • Not sufficient resources to fund a second • Urban Projects: • Able to fund one application in an urban area; • Used remaining resources as well as additional gap resources to fund an additional urban/rural scattered site • Unintended Consequence: Urban/Rural • Statewide Housing Plan Alignment: Equity and Racial Justice, Production, Rural • QAP

  5. Fund Reservations Membership and Mission • QAP

  6. NEXT STEPS Membership and Mission Membership and Mission • 4% LIHTC funding process: • Pre-application acceptance letter, which includes Lottery Backed Bond fund reservations, that lays out the next step due diligence items which must be completed, generally, within 90 days. • Construction closing within 180 days. All project transactions will return individually to Housing Stability Council along with their 4% LIHTC bond transaction for final approval. • QAP

  7. Questions or Comments? • QAP

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