Affordable Housing Investment Fund (AHIF) Notice of Funding Availability (NOFA) for FY 2018 Advisory Group April 25, 2016 1
Clarification of Draft Scoring Process Recommendations for max scores incorporate feedback from • Advisory Group balanced with AHMP Applications will be reviewed by staff • Points awarded by how well applicant meets the criteria • Applications will be compared against one another • Encourages applicants to submit the best applications they • can Scores will not be released to public • Staff will debrief applicants not selected • Housing Commission Updates • Development Update on list of applications submitted • Development Update on selected applicants • Project-specific review at Commission/Bricks & Mortar meetings • 2
Threshold Items • No less than a 30-year affordability commitment • AHIF loan funds used for units affordable up to 80% Area Median Income If mixed-income, AHIF applies only to affordable • portion of development 3
Max Points Available Policy Goals – 100 Points Advisory Group Staff Results (by %) Recommendation Supply and Access 27 30 Sustainability 6 10 Risk and Opportunity 41 35 (Preservation of MARKS/CAFS) Geographic Distribution 26 25 Budget – 100 Points Capital Budget 55 50 Operating Budget 45 50 Project Experience and Readiness – 100 Points Team Experience 43 50 Readiness 57 50 Note: Will assign weights to Policy (40% weight), Budget (40% weight) And Experience (20% weight) 4
Supply and Access Goals of AHMP (0 to 30 Points) Criteria Points Commitment Period 0 to 4 Affordability below 60% AMI 0 to 7 Family-Sized Units or Senior 0 to 7 Housing Units in Transit Corridor 0 or 4 Coordination with DHS for PSH 0 to 4 units Accessible Units 0 to 4 5
Sustainability (0 to 10 Points) Criteria Points • Design Team w/Green Design and 0 to 5 Construction Experience • Uses Industry Best Practices (e.g., Energy Star, 0 to 5 LEED, EarthCraft/Viridiant) 6
Risk & Opportunity (0 to 35 Points) Criteria Points Level of Risk 0 to 15 Level of Opportunity 0 to 5 Consistency with Neighborhood/Sector Plans 0 to 5 Level of Time-Sensitivity 0 to 10 7
Geographic Distribution (0 to 25 Points) Criteria Points Highest Points: 0 to 25 New Construction or Preservation is located within 1/2 mile from Metro or Lee Highway corridors New Construction or Preservation is mixed- income (at least 40% of units are market- rate/80% AMI) 8
Project Experience & Readiness (0 to 50 Points) Team Experience (50 Points) Points Development Experience 0 to 10 Project Completions 0 to 10 Property Management 0 to 10 Partnering with Service Providers 0 to 10 Fiscal and Organizational Health 0 to 10 Readiness (50 Points) Site Control 0 to 15 Design Process 0 to 10 Financing Plan 0 to 10 Timeline & Schedule 0 to 10 Public Participation Process 0 to 5 9
Budget (100 Points) Capital Budget (50 Points) Points Sources of Funds 0 to 10 Uses of Funds 0 to 10 AHIF Cost per Unit 0 to 10 Leveraging 0 to 10 Developer Fee/% Deferred 0 to 5 Developer Contribution 0 to 5 Operating Budget (50 Points) Pro Forma 0 to 10 Income 0 to 10 Operating Costs 0 to 10 Priority Payment & Replacement Reserves 0 to 10 Repayment Schedule 0 to 10 10
Next Steps Housing Commission Update (May 5) • Topic for Next Meeting (May 23) • 11
Reference Maps 12
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Geographic Distribution Areas CAFs+MARKs 2040 Forecast Areas Today 2040 Share Metro Corridors 2581 24% 7,200 32% Metro Corridors 2,619 7,200 32% Rosslyn Ballston 2069 20% 5,000 22% Rosslyn Ballston 2,131 5,000 22% Jefferson Davis 512 5% 2,200 10% Jefferson Davis 488 2,200 10% Columbia Pike 3,653 5,000 22% Columbia Pike 3,899 37% 5,000 22% Western Pike 1,608 2,300 10% Western Pike 1788 17% 2,300 10% Central Pike 1,809 1,400 6% Central Pike 2111 20% 1,400 6% Eastern Pike 221 1,250 5% Eastern Pike 410 4% 1,250 5% Foxcroft Heights 15 50 0% Foxcroft Heights 29 0% 50 0% Other Areas 4,139 10,600 46% I-395 640 3,000 13% Other Areas 4106 39% 10,600 46% Lee Highway/East Falls Church 554 2,500 11% I-395 583 6% 3,000 13% This table is intended as Remainder 2,945 5,100 22% Lee Highway/East Falls Church 511 5% 2,500 11% a general guideline and Buckingham 1,275 1,500 7% Remainder 3012 28% 5,100 22% not intended to serve as Westover 753 700 3% Buckingham 1326 13% 1,500 7% Arlington and Wash. Blvds 786 1,400 6% a cap or maximum Unidentified* 131 1,500 7% Westover 725 7% 700 3% number of housing units Total 10,411 22,800 100% in a given geographic Arlington and Wash. Blvds 828 8% 1,400 6% area. Unidentified* 133 1% 1,500 7% Total 10,586 1 22,800 100% 14
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