IMPORTANT INFORMATION REGARDING LIHTC APPLICATIONS (2014)

IMPORTANT INFORMATION REGARDING LIHTC APPLICATIONS

The Department of Trade & Development is excited to hear about the various LIHTC applications proposed for submission for OHFA’s 2014 QAP.  As you are aware, Local Collaboration plays an important role in the scoring of the QAP. 

The City of Cincinnati has the ability to affect the scoring of housing development projects through the Local Collaboration category in the following ways:

  • Letter or resolution of support from Mayor/City Council                  10 points
  • Local Development Priority Designation                                             5 points
  • Highest Priority Continuum of Care (PSH only)                                15 points

In order for LIHTC applications to be considered for these Local Collaboration points, Developers will need to submit the following to the Department of Trade & Development by close of business (5pm) on Mon January 13, 2014:

  1. Project narrative (include at a minimum the name of legal applicant; description of project including location, address(es), number and size of  bedrooms, energy conservation, building materials; and project goals/demographic to be served
  2. Development Budget
  3. Sources and Uses of Funds
  4. Proforma including Operating Expenses
  5. Community Outreach Efforts/Demonstrated Community Support
  6. Attached Impaction Guidelines Worksheet

Please submit these materials via email to monica.richards@cincinnati-oh.gov by 5pm on Mon January 13, 2014.

In order to get resolutions and letters of support through Council in time to be included in QAP application (deadline date of February 20, 2014), we must adhere to a strict timeline.  Letters of Support/Resolutions will be introduced to City Council in late January/early February.  Developers may be asked to present an overview of their proposed projects to Neighborhoods Committee and/or Economic Growth and Infrastructure Committee (dates to be determined).  Letters of Support/Resolutions will then be on the calendar for City Council Approval on February 12, 2014.

The Department of Trade & Development has developed a scoring system to aid in the selection of Local Development Priority.

In order to answer questions regarding the process and aid in the preparation of Committee presentation, the Department of Trade & Development will be available to meet with Developers January 15-January 27th  Please contact Monica Richards at (513) 352-1955 or monica.richards@cincinnati-oh.gov to schedule.

Best regards,

Russ Hairston
Housing Division Manager
(513) 352-6131