Affordable Housing Investment Fund (AHIF) Notice of Funding Availability (NOFA) for FY 2018 Advisory Group August 1, 2016 1
Draft Scoring Process Staff scoring process with formation of new “AHIF NOFA • Subcommittee” of the Housing Commission to obtain input Subcommittee would exclude Commission members with affiliations • with affordable housing developers submitting applications (employees, board members, etc.) Would need to sign non-disclosure/confidentiality document • Will meet once or twice to provide input on Policy and Experience • & Readiness sections of applications. Input would be taken into consideration when forming staff recommendations. Will update Housing Commission in the form of “Development • Updates” The selections will form the FY18 Pipeline Recommendations • Applicants will continue the four to eight month public process • including SPRC or FBC AWG meetings, Planning Commission meetings, and Housing Commission/Bricks & Mortar meetings County Board Hearing at conclusion of public process • Staff will release scores upon request • Staff will meet and debrief with applicants who are not selected • 2
Changes to Geographic Distribution since June Meeting Renamed “Consistency with Neighborhood/Sector Plans” to • “Consistency with Small Area Plans/Sector Plans” (5 Points) Revised Guidance - Project is consistent with Small Area or Sector • Plans. If located in an unplanned area, project is consistent with the General Land Use Plan. Revised Tiered Point Structure • Changes reflect location in a metro corridor or level of poverty • Highest points for being located in metro corridor (25 Points) • 20 points for being located in a census tract below avg. poverty • rate and not in metro corridor 15 points for being located in a census tract with 1x -2x avg. • poverty rate and not in metro corridor 10 points for being located in a census tract with 2x-3x avg. poverty • rate and not in metro corridor 0 points if located in a census tract that has 3x or greater avg. • poverty rate at any point over the past 3 years 10 points if in a census tract with 3X or greater avg. poverty rate • and is mixed-income (at least 40% of units unrestricted) 3
Changes to Geographic Distribution since June Meeting 4
Experience and Readiness Clarification Readiness is linked to Experience • Applicants that have worked in Arlington have understanding of • site plan or use permit process as well as public processes Local developers may already own property, have in-depth • knowledge of community, or may have relationships with development/real estate community Removed “Financing Plan” (10 points) criteria from Readiness • Folded the request for a tax credit self-scoring sheet (if • applicable) into Capital Budget “Sources of Funds” criteria Added 5 points to Public Participation Process (revised to 10 • points) Added 5 points to Development Experience • Due to the linked nature of Experience and Readiness, staff • recommends keeping both categories together 11 points for Experience (with weights applied) • 9 points for Readiness (with weights applied) • 5
Threshold Clarification Threshold items, applicant MUST met following criteria • No less than a 30-year affordability commitment • AHIF loan funds used for units affordable up to 80% Area Median • Income (AMI) If mixed-income, AHIF applies to affordable portion of • development Must have previous experience developing affordable housing or • be partnering with a developer who has previous experience Applicant will receive points based on how well they meet • criteria Would not want to eliminate from consideration a project that • might meet other important objectives Each application may have reasonable extenuating circumstances • as to why they are not able to meet a specific criteria 6
Draft Max Points Available Policy Goals Recommended With Weights Max Points Applied Supply and Access 30 12 Sustainability 10 4 Risk and Opportunity 30 12 (Preservation of MARKS/CAFS) Geographic Distribution 30 12 Policy Total 100 40 Budget Capital Budget 50 20 Operating Budget 50 20 Budget Total 100 40 Project Experience and Readiness Team Experience 55 11 Readiness 45 9 Experience/Readiness Total 100 20 7
Draft Schedule for In-Cycle Applications 2016 2017 Dec. Jan. Feb. March April May June NOFA is issued with application packet posted to website Developer Forum to introduce application packet Pre-meeting with Housing for interested applicants Conceptual Site Plan or FBC Review [1] Developers Submit AHIF Application (Feb. 1 - March 15, 2017) Q&A Session with Developers (Feb. 15, 2017) Staff Review (March 16 - April 28, 2017) Meeting of the NOFA Subcommittee of the Housing Commission Developer Notification (May 1, 2017) Debrief meeting with applicants who did not get selected 4.1 Site Plan or FBC Preliminary Filing Public Process/Site Plan/FBC Review (June - January 2018) [1] Applicant can Submit Conceptual Site Plan Application or meet to discuss the FBC application at anytime prior to AHIF application submittal. Year 2017 2017 July August Sept. Oct. Nov. Dec. Public Process/Site Plan/FBC Review (June - January 2018) 4.1 Site Plan Final Filing FBC Final Submission Commission Meetings (December - January 2018) Year 2018 2018 Jan. Feb. March Public Process/Site Plan/FBC Review (June 2017 - January 2018) Commission Meetings (December 2017 - January 2018) County Board Meeting (January 2018) 9% Tax Credit Deadline (March 2018) *Notes: 9%/hybrid LIHTC applications may need to be heard by County Board in Feb., depending on schedule/public process. Other applications may be heard earlier than January if schedule/public process allows. 8
Wrap-Up and Next Steps NOFA Advisory Group met six times over seven months • Advisory Group input includes: • Scoring guidance (criteria and max points) • Geographic distribution revisions • Application schedule input • Scoring process • Next Steps • Review with County Manager Office • Housing Commission Update (September 15) • Application posted to website and Developer Forum • (December 2016) 9
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