Notice of Funding Availability (NOFA) for FY 2018 Advisory Group - - PowerPoint PPT Presentation

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

Advisory Group Kick-Off Meeting

February 26, 2016

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• AHIF is main program for

affordable development.

• AHIF created/preserved

~7,000 CAFS.

• Applications received on a

rolling basis.

Background

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• Concurrent review improves decision

making

• More competitive applications
• Clarifies process and schedule for all

developers

• Desire for AHIF tools that address

geographic distribution

NOFA Rationale

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• AHIF Guidelines guide

evaluation of AHIF loan requests.

• Can be found on website:

https://arlingtonva.s3.am azonaws.com/wp- content/uploads/sites/15/ 2013/09/AHIF-Funding- Guidelines-FY161.pdf

• Guidelines will be revised

for consistency with AHMP

• Advisory Group to discuss

criteria throughout process

Current Process - AHIF Guidelines

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Current Application Process

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Housing Commission (Info and Action)

Bricks and Mortar

AHIF Negotiation

Staff Review/ Invitation to Submit App. Preliminary Proposal (Rolling Basis)

County Board Meeting

Housing Commission (Info and Action)

Bricks and Mortar

AHIF Negotiation

Staff Review/ Invitation to Submit App. Submit App. (9% LIHTC,

• thers on

rolling basis?)

Potential NOFA Application Process

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County Board Meeting

Difference Between Current Process and Potential NOFA Process

Housing Commission (Info and Action)

Bricks and Mortar

AHIF Negotiation

Staff Review/ Invitation to Submit App. Preliminary Proposal (Rolling Basis)

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County Board Meeting

CURRENT PROCESS

Difference Between Current Process and Potential NOFA Process

Housing Commission (Info and Action)

Bricks and Mortar

AHIF Negotiation

Staff Review/ Invitation to Submit App. Submit App. (9% LIHTC,

• thers on

rolling basis?)

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County Board Meeting

POTENTIAL NOFA PROCESS

• Many communities of all sizes throughout country

have a NOFA/RFP process. Examples Include: Other Jurisdictions with NOFA/RFP

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• Washington, DC
• Philadelphia, PA
• San Francisco, CA
• Los Angeles, CA
• Miami, FL
• Madison, WI
• East King County, WA
• Seattle, WA
• Portland, OR
• Cleveland, OH
• Austin, TX
• Tompkins County, NY

• East King County, Washington
• RFP process for Housing Trust Funds
• Accept “out-of-cycle” applications for preservation projects

and land acquisitions

• Do not specifically reserve funds for out-of-cycle applications
• Selection process
• City Councils confirm recommendation or return

recommendations

• Do not assign scores to criteria

A Regional Coalition for Housing (ARCH)

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• RFP process for Housing Production Trust Funds
• Selections are made twice per year
• They do not specifically reserve funds for the second round,

but they may “forward allocate” funding

• Legislation requires minimum of $100 million budget for HPTF

per year

• Selection process is completed by staff
• Post categories for scoring
• Do not post final scores
• Selections are not a financial commitment.
• Any project over $1 million is heard by the City Council.
• The RFP helps set the pipe-line

Washington, DC

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Washington, DC – 2015 RFP Scorecard

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Discussion – Draft Potential Arlington Scoring Criteria

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Affordable Housing Master Plan Goals, Objectives and Policies Supply/Need Green Building/Sustainability Risk and Opportunity Geographic Distribution Experience and Readiness Project Team Experience Project Readiness Budget Capital Budget Operating Budget

• Continue rolling-basis application for 4%/acquisition

projects?

• If so, reserve funds for 4%/acquisition projects?
• May preclude funding a 9% tax credit project which better

leverage County Funds

• May not receive any 4%/acquisition Projects in a given year
• Or allow any funds that may be unused from 9%/hybrid tax

credit selection process be available to 4%/acquisition projects?

• Or alternatively, one application period for all types of

projects requesting AHIF?

Discussion – In-Cycle or Out-of-Cycle?

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• Would like to align with Virginia Housing Development

Authority’s (VHDA’s) Low Income Housing Tax Credit (LIHTC) Schedule

• Application packet posted to website January 2017 or earlier
• Will allow time for applicants to review material before

application period opens

• Developers submit application March through April 2017
• Notification July 2017

Discussion – Draft Potential Timing

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Discussion – Potential Draft Schedule

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Jan. Feb. March April May June Add Application Packet to Website (by January 15, 2017) Pre-meeting with Planning/Housing for interested applicants Developers Submit Application (March 1 - mid-April 2017) Q&A Session with Developers (March 15, 2017) Staff Review Year 2017 July August Sept. Oct. Nov. Dec. Developer Notification (July 1, 2017) Debrief meeting with applicants who did not get selected AHIF Negotiations/Site Plan/FBC Review (July - December, 2017) Commission Meetings (November - January, 2017) Year 2018 Jan. Feb. March Commission Meetings (November - January, 2018) County Board Meeting (January 2018) Tax Credit Deadline (March 2018) 2017 2017 2018

• Is there feedback on the draft timeline for applications?
• What should the point system be for the draft categories

within our AHIF Guidelines? What should be prioritized?

• Should the County accept “out-of-cycle” applications? If so,

should a portion of the budget be reserved for “out-of-cycle” applications?

Questions

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• Housing Commission Update (March 3)
• Set Regular Meeting Schedule
• Prefer Morning or Night Meetings?
• Meet every last X day of the month for the next five months?
• Topics for Next Meeting
• Will provide an additional “AHIF 101” information session at

future Housing Commission meeting

Next Steps

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