We attended the OK Housing Finance Agency’s meeting for public input into their 2013 Affordable Housing Tax Credit Program (aka Low Income Housing Tax Credits) on Thursday, 8/9. OHFA wants written suggestions and specific examples if you have them. Click here for the proposed 2013 application. YOU HAVE UNTIL AUGUST 20 TO SHARE YOUR THOUGHTS, INTERESTS, OR WHATEVER!
Setting: Six (6) OHFA Staff sat up front behind the conference table and one (1) staff person sat in the very back row. In the audience were twenty-two individuals representing various businesses connected to the tax credit industry. In case you don’t know who they are, it is developers, builders, syndicators, lenders, consultants, and nonprofits.
DIscussion: Staff updated everyone with draft changes to the application. Lots of discussion focused on the points and criteria with the following suggestions. This list is my notes of the meeting; others attending might have a different take on the suggestions. Thus, the importance of conveying suggestions in writing! Do you like/dislike or have any thoughts to add to the below?
- reduction of leverage points and use exclusive list of resources and add CHP Plus Perms
- not require original signatures for every single form
- consolidate the 2 new attachments regarding ADA into one
- add more criteria options for developers to choose from for their developments
- modify DDA/QCT criteria and points
- equal the scoring process: elderly, acq/rehab vs. new construction
- allow out of state developers use developments from other states as capacity consideration instead of waiting for the OK 8609
- must explain why syndicator or lender is requiring higher reserves
- incentivizing criteria change to a 5 mile radius instead of 10 in OKC or Tulsa
- provide template of what they wish to see in the homeownership plan
- remove elderly from the special needs populations 100% dedicated facility. Elderly already receive points for Tenant Pops and have their own set aside.
- asked for matrix for each set aside and how the percentage rating system works
- allow other forms of traceable mail for notices, i.e. fedex, ups
- development amenities regarding washer & dryer, commenter noted big cost difference between having w/d in unit, hookups, and a shared facility. Perhaps consider moving to criterion section
- clarify on Attachment 9 exactly which entities must provide 8609 dates
Staff also asked about accessing and using HOME funds if they were available directly. A developer stated they used HOME funds in other states. Majority requested application be combined with tax credit as an addendum. One asked if the money would be grants or loans. The issue that came up was the match requirement.
In the End: We spent 3 hours and I’m not sure any concrete decisions were made.