2008
Qualified Allocation Plan (QAP)
(Changes from 2007)
Application Package for Low Income Housing Tax Credits (cover sheet)
Net Available tax credit amount changed to $2,361,747.00
Timetable changes.
The following dates were changed/added:
- 02/04/08 – Deadline for pre-inspection notification if applying for 2007 rehabilitation credits.
- 03/04/08 - Community Outreach Notification due date (if using this notice for minimum threshold notice).
- 04/04/08 - Application due date.
- 04/14/08 - Local and Community Notice for Acquisition/Rehabilitation Developments due date.
- 07/03/08 - DSHA will notify sponsors of their ranking in accordance with the QAP and designated set asides outlined in the application package.
- 08/14/08 - Commitments for all financing must be submitted to DSHA.
- 09/25/08 - DSHA will make Tax Credit reservations for selected projects.
- 09/25/08- Deadline for pre-closing documents for HDF-financed projects.
- On or before 11/14/08 - DSHA will allocate Credits to selected projects.
Qualified Allocation Plan
Page10-17
Removed 2003 Needs Assessment information and replaced with 2007 Needs Assessment data.
Page 18
Removed New Castle County, Kent & Sussex County and RD set-aside.
Non-Profit Pool - Changed amount to $260,849.
Preservation Rehabilitation Pool- Modified definition and increased pool to $1,850,901.
Page 19
Chronically Homeless Set-Aside- Increased set-aside to $250,000.
Page 20
All applicants will be limited to 50% of the available credit.
Page 22
Conversion- Modified definition.
Page 23
Eligible Basis Limitations changed to reflect most current HUD 221(d) 3 limits.
Page 24
Families in Poverty - amounts changed.
Page 25
Preservation /Rehabilitation- modified definition.
Page 27
Modified Substantial Rehabilitation Definition to include at least $30,000 of hard costs per unit.
Page 28
Added new Definition for Substandard Housing.
Page 31
Added new definition of efficiency unit under DSHA minimum threshold requirements.
Added the word “elected” in Local and Community Notice for Acquisition/Rehabilitation Developments
Page 32
Changed Local and Community Notice due date to 04/14/08.
Page 34
Revised pre-inspection date.
Page 35
Added requirement of 55 points as a minimum threshold requirement and ranking criteria.
Page 40
Deleted Conversion Housing and converted subtitle to Historic Housing.
Preservation- Added new point category for Preservation. Added new point category for Rural Development-USDA.
Page 44
Energy Efficiency- Added language concerning consequences of failure to provide energy efficiency amenities after points are awarded.
Community outreach- changed due date to March 4, 2008. Added the word “elected” to county executive.
Page 45
Point system for Preservation/ Expiration pool changed to read as Preservation/Rehabilitation pool.
Page 47
LIHTC application due date changed to 04/04/08.
Page 49
Added language concerning due date of cost certification and consequences for failure to do so.
Page 52
Placed in service date- changed dates, concerning meeting the 10% test prior to applying for 2008 LIHTC’s.
Page 62
QAP Approval, Hearing Dates and Newspaper Ad dates changed.
Attachments to Qualified Allocation Plan
Page 2
Land and Acquisition Value- added language requiring appraisers to contact DSHA for comparable land cost analysis.
Page 3
Relocation- Added language requiring verification of income of existing tenants at time of application. Also added language concerning change in applicable fraction from application to construction and sponsor’s responsibility if equity changes.
Page 8
Eligible Basis Limits changed to reflect most current HUD 221(d) 3 Limits.
Page 12
Exhibit 12 - Local & Community Notice- changed dates.
Page 15
Exhibit 32- Relocation- added language concerning certification verification of current residents income.
Exhibit 33- Preservation/Rehabilitation- clarified preservation/rehabilitation definition and clarification on receiving points in this category.
Exhibit 34- Conversion Exhibit deleted.
Page 16
Exhibit 51- Energy Star Certification- changed requirement from Energy Star Partner certification to Energy Star Builder certification.
Page 17
Exhibit 54- Details of Debt Financing- changed due date to 08/14/08.
Page 18
Exhibit 62- Cost Certification- added language concerning due date of cost certification as it relates to completion of the Development, and consequences for failure to do so.
Page 22
Added Chart detailing due dates for Local Community notice for threshold and points.
Minimum Construction/Rehabilitation Standards
Page 27- Site Work- landscaping and utility connection requirements were modified.
Page 27- Thermal and Moisture Protection- clarified asphalt shingle requirements.
Page 28- Doors and Windows- requirements modified to include frame savers.
Page 28-29- Specialties- Added requirement of “Kilz” type application, on drywall in rehabilitation properties. Added vertical blind and door clarification. Furnishings- Added requirements for kitchen cabinets.
Page 30- Mechanical- Added clarification for treatment of existing condensate lines. Added hot water warranty period. Electrical-Added including combination box/plate for phone Internet lines in bedrooms.
Miscellaneous- Added certification of pre-treatment for termites in soil of new construction sites will be included in Operation and Maintenance manual.
Page 46- Energy Efficiency table was expanded. Also language regarding substitutions of energy efficiency amenities was added.
2008 LIHTC Application Part 1
Page 1
Changed date to read as 2008.
2008 Housing Development Fund Supplement
Page 7
Added Policy Changes regarding incomplete draw submittals fees, re-inspection fees and fees for the late submission of cost certifications.
1
10/2/2018