Capital Funding to End Homelessness Initiative
Frequently Asked Questions (FAQ)
OHFA is often asked how it will interpret program guidelines with respect to specific issues. Such questions regarding the above noted guidelines can be submitted toSylvia Ray at .
This FAQ will be updated as necessaryto address new questions that may arise.
January 23, 2014
Question: If there are two separate repairs that total over $20,000 combined do you need two estimates for each repair?
Answer: Yes, if the repairs are for the same facility. If the repairs are in different facilities, two estimates would be required only for the facility for which the cost estimate exceeds $20,000, if applicable.
Question: Are governmental organizations eligible to apply?
Answer: Yes.
Question: What percentage of a targeted application must be served in order to be eligible for a Repair Project?
Answer: Projects that serve 100% of a targeted population will be given preference over projects that serve a lesser percentage of a targeted population.
Question: Can matching funds be spent before a final decision is made for the CFEHI award?
Answer: Yes, but not prior to submission of the application.
Question: Does the donation of a building and/or land count as match?
Answer: Building and/or land acquisition can be counted as match for Development Projectsif theacquisitionprice is supported by an appraisal. The appraisal must meet the OHFAAppraisal Scope & Guidelines which can be found on the OHFA web site.
Question: Will you accept and how will you evaluate in-kind sources asmatch?
Answer: For Development Projects, OHFA will accept some in-kind sources as match but these will be evaluatedon a case by case basis. An in-kind source must be tied to an eligible cost(s) in the capital budget. For Repair Projects, in-kind donations may include contribution of leased space, volunteer time and contributed materials.
Question: How does the match requirement apply to Multifamily Bond projects?
Answer: Multifamily Bond projects must include at least $500,000 in additional soft debt. The amount of Housing Tax Credit equity and the amount of soft debt, if local funds, will be counted toward the match requirement for the Continuum of Care.
Question: If an applicant wants to use the four percent bond program, what application should they use?
Answer: Anyone choosing the 4% Housing Tax CreditProgram should contact Sylvia Ray for an Excel copy of the application. Sylvia can be reached at (614) 387-1654 or by email .
Question: Under what circumstances are the funds from OHFAreleased?
Answer: For Development projects, once the project has been reviewed and approved by the OHFA Board, the recipient will sign a grant agreement with OHFA. Funds will be issued as costsare incurred. The draw process will be similar to the OHFAGuide toDrawing HDAP which can be found on the OHFA web site.Funds may be released in a slightly different manner for Repair Projects if cash flow warrants such on a case by case basis.
Question: Do matching funds have to be received or just committed?
Answer: OHFA will accept executed conditional commitment letters formatching funds. An executed conditional commitment letter must contain, at a minimum,the amount of the financing, and the interest rate, term and amortization period or repayment terms of a loan. Applicants seeking funding from a local government, Federal Home Loan Bank, or other public or quasi-public funding source that does not issue a funding decision prior to the CFEHI application submission must substitute a letter of application or letter of intent from the funding source. OHFA reserves the right to request that the applicant provide a backup plan for any source that may not appear to be conditionally committed.
Question: If an organization is interested in applying for a Repair Project, where do they find that application?
Answer: Upon receipt of Continuum of Care approval, OHFA will provide the applicant with a copy of the Repair Application.
Question: For the Entitlement Continua (Cuyahoga, Franklin, Hamilton, Lucas, Mahoning, Montgomery, Stark and Summit counties), is the match requirement a collective match (funding among all the proposed projects is considered) or must the match requirement be met for each proposed project?
Answer: Compliance with the match requirement will be based on the total amount of funds requested and matching funds raised for all projects in an EntitlementContinuum (i.e. “a collective match”). However, for the Balance of State Continuum, each applicant must meet the match requirement.If a Balance of State applicant is submitting an application for repairs at different facilities, the match may be considered as a total match for the total amount of funds requested.
Question: If a project is approved as Permanent SupportiveHousing, will the ten year restricted use be Permanent Supportive Housing?
Answer: Yes, the restricted use will be the same.
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