Affordable Housing Investment Fund (AHIF) Notice of Funding - - PowerPoint PPT Presentation

Affordable Housing Investment Fund (AHIF) Notice of Funding Availability (NOFA) for FY 2018

Advisory Group

April 25, 2016

1

• 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

Clarification of Draft Scoring Process

2

• 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

Threshold Items

3

Max Points Available

4

Policy Goals – 100 Points Advisory Group Results (by %) Staff Recommendation

Supply and Access 27 30 Sustainability 6 10 Risk and Opportunity (Preservation of MARKS/CAFS) 41 35 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)

Supply and Access Goals of AHMP (0 to 30 Points)

5

Criteria Points Commitment Period 0 to 4 Affordability below 60% AMI 0 to 7 Family-Sized Units or Senior Housing 0 to 7 Units in Transit Corridor 0 or 4 Coordination with DHS for PSH units 0 to 4 Accessible Units 0 to 4

Sustainability (0 to 10 Points)

6

Criteria Points

• Design Team w/Green Design and

Construction Experience 0 to 5

• Uses Industry Best Practices (e.g., Energy Star,

LEED, EarthCraft/Viridiant) 0 to 5

Risk & Opportunity (0 to 35 Points)

7

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

Geographic Distribution (0 to 25 Points)

8

Criteria Points Highest Points:

• 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) 0 to 25

Project Experience & Readiness (0 to 50 Points)

9

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

Budget (100 Points)

10

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

• Housing Commission Update (May 5)
• Topic for Next Meeting (May 23)

Next Steps

11

Reference Maps

12

13

Geographic Distribution

14 This table is intended as a general guideline and not intended to serve as a cap or maximum number of housing units in a given geographic area.

Areas Today 2040 Share

Metro Corridors 2,619 7,200 32% Rosslyn Ballston 2,131 5,000 22% Jefferson Davis 488 2,200 10% Columbia Pike 3,653 5,000 22% Western Pike 1,608 2,300 10% Central Pike 1,809 1,400 6% Eastern Pike 221 1,250 5% Foxcroft Heights 15 50 0% Other Areas 4,139 10,600 46% I-395 640 3,000 13% Lee Highway/East Falls Church 554 2,500 11% Remainder 2,945 5,100 22% Buckingham 1,275 1,500 7% Westover 753 700 3% Arlington and Wash. Blvds 786 1,400 6% Unidentified* 131 1,500 7%

Total

10,411 22,800 100%

Areas

Metro Corridors 2581 24% 7,200 32% Rosslyn Ballston 2069 20% 5,000 22% Jefferson Davis 512 5% 2,200 10% Columbia Pike 3,899 37% 5,000 22% Western Pike 1788 17% 2,300 10% Central Pike 2111 20% 1,400 6% Eastern Pike 410 4% 1,250 5% Foxcroft Heights 29 0% 50 0% Other Areas 4106 39% 10,600 46% I-395 583 6% 3,000 13% Lee Highway/East Falls Church 511 5% 2,500 11% Remainder 3012 28% 5,100 22% Buckingham 1326 13% 1,500 7% Westover 725 7% 700 3% Arlington and Wash. Blvds 828 8% 1,400 6% Unidentified* 133 1% 1,500 7%

Total

10,586 1 22,800 100%

CAFs+MARKs 2040 Forecast