The Ohio Housing Finance Agency (OHFA) has released a draft 2014 qualified allocation plan (QAP) for awarding low-income housing tax credits.
The plan calls for a $1 million credit cap for each proposed development as well as a $2 million credit cap for each development partner.
The draft also says OHFA will fund a maximum of two projects receiving points for federal historic tax credits and a maximum of two projects receiving points for lease-purchase.
The draft QAP also has the following changes:
- The method for removing high-cost projects is now outlined in the 9 percent proposal process;
- The guidelines no longer permit SRO units;
- Staff will be removing the underwriting and design guidelines from future QAPs and other program guidelines and consolidating each into its own respective guideline that applies to all programs;
- Zoning is no longer a waivable threshold item;
- OHFA plans to reincorporate a construction features agreement; and
- OHFA plans to create a scoring workbook that will clearly outline every question that must be answered and what must be attached in order to garner points for specific criteria.
OHFA has scheduled an Aug. 14 public hearing on the draft QAP. The deadline for written comments is Sept. 2. For more information, visit www.ohiohome.org.