Proposed Changes to the Oklahoma 2022 Qualified Allocation Plan and Application follow:
- Nine (9) counties not allowed new construction awards: Adair, Canadian, Carter, Garfield, Kay, Logan, Ottawa, Pontotoc, and Rogers.
- Using $3M of the total 2022 allocation to provide additional credits to 2019-2021 awardees and consider holding one funding round.
- Application deadlines updated: 3:00 CST, January 7, 2022, and June 23, 2022.
- The application fee must be paid by wire transfer. No checks.
- State tax credits with 4% LIHTC projects will be ranked using the current selection criteria for 9%.
- New to Oklahoma are ineligible to apply for two developments and be awarded no more than one development until they have an award of tax credits, 8609s issued and compliance staff first visit. There are 3 exceptions to the one development rule.
- Updated Fair Housing language, removed dates tied to certain training, and added the list is not exclusive. Training must be completed prior to application submission.
- Amenities Attachment 11 changed to require a wireless internet connection for development.
- Post Application Fees, Attachment A changed to require all fees paid by wire transfer.
- General Contractor Cost Certification. Beginning with any development awarded Tax Credits in 2022; OHFA will require a General Contractor Cost Certification to be submitted with all of the final documents associated with the proposed development. If an identity of interest exists between the General Contractor and the Developer, the General Contractor Cost Certification and the Final Cost Certification may still be completed by the same accountant.
- Costs per square foot over $180 result in a failed threshold item. HOWEVER, on May 23, 2021, the OHFA Board of Trustees approved a waiver to increase the cost limit to $200 until December 31, 2022.
June 18-July 16 at noon Open online discussion forum: https://ohfa2022qapcomments.freeforums.net
July 23 Post 2nd draft of the application on website
August 2 Comment deadline on 2nd draft
August 11 at 10:00 am Formal public input session (The Holiday Inn Oklahoma City North, 6200 N. Robinson, Oklahoma City, Oklahoma.)
August 27 Final draft of the 2022 QAP/Application
September 22 OHFA Trustees Consideration of Plan
October 2022 Application training date and format will be determined later