IMPORTANT INFORMATION REGARDING LIHTC APPLICATIONS & LOCAL COLLABORATION POINTS

The Department of Trade & Development is excited to hear about the various Low Income Housing Tax Credit (LIHTC) applications proposed for submission for Ohio Housing Finance Agency’s (OHFA) 2015 Qualified Allocation Plan (QAP). LIHTC applications are due to OHFA by Friday February 20, 2015. 

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                  10/15 points*
• Local Development Priority Designation                                           5 points
• Highest Priority Continuum of Care                                                   15 points
  Permanent Supportive Housing (PSH) only

*New rental or existing rental will receive 10 points for letter or resolution of support from Mayor and/or City Council.  Permanent Supportive Housing (PSH) projects will receive 15 points for letter or resolution of support from Mayor and/or City Council.           

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 Friday January 16, 2015:

• 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
• Development Budget
• Sources and Uses of Funds
• Proforma including Operating Expenses
• Community Outreach Plan/Letter of Support from Community Council
• Details on Development Team including ownership structure,
• MBE/SBE/WBE/Section 3 inclusion efforts, and prior development experience
• Attached Impaction Guidelines Worksheet

Please submit these materials via email to monica.hardman@cincinnati-oh.gov by 5pm on Friday January 16, 2015.

In order to get resolutions through Council in time to be included in QAP application (deadline date of February 20, 2015); we must adhere to a strict timeline.  Resolutions will be introduced to City Council in late January/early February.  Developers will be required to present an overview of their proposed projects to Budget & Finance Committee (date to be determined). 

The Department of Trade & Development has developed a scoring system to aid in the selection of Local Development Priority (Attachment: City of Cincinnati LIHTC Development Priorities Methodology 2015 final).

In order to answer questions regarding the process and aid in the preparation of Budget & Finance Committee presentation, the Department of Trade & Development will be available to meet with Developers January 15-January 23^rd.  Please contact Monica Hardman at (513) 352-1955 or monica.hardman@cincinnati-oh.gov to schedule.

Any questions regarding the process can be directed to Monica Hardman at (513) 352-1955 or monica.hardman@cincinnati-oh.gov or Russ Hairston, Housing Division Manager, at (513) 352-6131 or russ.hairston@cincinnati-oh.gov .

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Attachments:
City of Cincinnati LIHTC Development Priorities Methodology
Impaction Ordinance Worksheet