The Oklahoma Housing Finance Agency held a workshop announcing their HOME and National Housing Trust Fund Application process on Tuesday, March 19, 2019. About twenty people attended, ten representing interested organizations and ten OHFA staff.
Highlights of the HOME workshop
- OHFA has new staff that attended; two in the allocation and two in the compliance section.
- Applicants limited to one application per deadline.
- Program funds awarded as grants only except CHDO predevelopment loans.
- Changes to Attachment D. Energy Efficiency requiring smoke and carbon monoxide detectors and to align with tax credit certificate. CO required when combustible fuel is used or an attached garage.
- If using CHDO proceeds in your project, you must include a CHDO proceeds log to document you have the money available.
- Lowered front end ratio for Down Payment Assistance to 15% instead of 20%.
- If you have a finding/concern letter regardless if you corrected the issue, the finding is on your record for one-year.
- Be aware that you must comply with VAWA, as certified on the Attachment B.
- Attachment F. CHDO Recertification Application. Only need to submit once per year. OHFA may add a Conflict of Interest form to the application.
- OHFA removed Match with bond proceeds. Internal discussions on the use of multi-family bonds to help with Match. Currently, applicants must meet the 25% match.
- If you are required to submit an audit, OHFA likes when you have the match included.
- OHFA encourages the use of Dropbox for HOME. It is acceptable to submit a printed copy of the application.
Highlights of theNHTF
- OHFA encourages the use of Dropbox for NHTF, but they understand if you’d like to submit a printed copy.
- Applications with tax credits considered for the 2nd Tax Credit funding round in 2019.