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CHFA/DOH CONSOLIDATED APPLICATION FOR HOUSING DEVELOPMENT FINANCE 2014.

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Presentation on theme: "CHFA/DOH CONSOLIDATED APPLICATION FOR HOUSING DEVELOPMENT FINANCE 2014."— Presentation transcript:

1 CHFA/DOH CONSOLIDATED APPLICATION FOR HOUSING DEVELOPMENT FINANCE 2014

2 Agenda Backdrop to New and Improved ConApp Funds & Funding Schedule Overview of Updated ConApp Lean Objectives & Goals Key Changes Submission Scheduled Training Sessions Questions and Answers

3 Background to the New ConApp Preparing for the Web-based Application Proliferation of One-off applications Continued Leaning Ease of Applicant Use

4 Funds & Funding Schedule 9% Low-Income Housing Tax Credits – Nov. 3, 2014 –New construction or substantial rehabilitation developments of 25 or more rental units, meeting threshold requirements consistent with the current Qualified Allocation Plan 4% Low-Income Housing Tax Credits –New construction or substantial rehabilitation of rental properties, frequently combined with DOH CHAMP and Tax Exempt Bonds Tax Exempt Bonds –Available through CHFA for rental developments Housing Innovations – Oct. 15, 2014 –Small projects that address specific unmet affordable housing needs, especially through innovative, scalable and replicable approaches

5 Funds & Funding Schedule Competitive Housing Assistance for Multifamily Projects (CHAMP) – Dec. 3, 2014 –Gap financing for housing rehabilitation or development HomeCT – Rolling, beginning Sept. 2, 2014 –Incentive Housing Zones Just in Time Funding – Rolling, beginning Oct. 15, 2014 –Fully funded, fully approved market-rate projects seeking assistance to add affordable units CDBG – Small Cities – April 6, 2015

6 State Sponsored Housing Portfolio (SSHP) Funding Projects seeking predevelopment Funds (ONLY) –Rolling, beginning September 30, 2014 Projects that need funding for interim capital needs –February 4, 2015 Projects seeking State capital funds (with or w/o 4% LIHTCs) –April 20, 2015

7 Lean Objectives and Goals Make ConApp more user friendly. 360 Customer Input – Internal staff and external users Identify necessary information required at application phase and eliminate other requirements. Reorient the ConApp to more broadly finance projects with different sources of financing or types of transactions. Increase thoroughness & quality of all applications submitted for review.

8 Overview of the Updated ConApp Navigation –One Excel Workbook –Program/Funding Source Buttons –Exhibit Checklist –Appendices Accessible –www.chfa.orgwww.chfa.org –www.ct.gov/dohwww.ct.gov/doh

9 A Leaner Streamlined Application Notification Tab Certification Page No Zip File 70 appendices reduced to 6 New ConApp is the model for the upcoming web-based application

10 Notable Forms Removed Previous Participation Form Development Schedule Drawing Review Checklist Specification Review Checklist Outline Specifications Resident Participation Plan Owners Affidavit Architect Certification form Assurance of Utilities form

11 Notification Page Notification page outlines material that will be required to do by each agency 4 weeks after receiving an award or approval: Fair Housing Marketing Plan Relocation Plan Management Agency Confirmation

12 Key Changes Income & Expense Calculation Enter income and expenses for Proforma Stabilized Year. “Income and Expenses” (on the Cash Flow exhibit) will automatically trend annually at 2% and 3% respectively. The Equity, Capital, and Grant section of the Sources of Funds exhibit now includes: Energy Rebates Existing Property Reserves

13 Key Changes – cont. Organizational Documents – Only Certification of Legal Existence for the current year will be required. Exploded Trade Payment Breakdown Only one “Trade Payment Breakdown” tab. Will be a threshold item for all funding types. There is only one ”Project Cost Summary” which is automatically populated from the “Exploded Trade Payment Breakdown” Energy Conservation Captures proposed energy savings as a result of rehabilitation or development activities. All terms and definitions can be found in the “CHFA Standards of Design & Construction” Complete the relevant section the form for: Minor, Moderate and Substantial rehabilitation Gut Rehabilitation/New Construction

14 Key Changes – cont. Prevailing Wage Information Narrative simplification Relocation Fair Housing

15 Signature Pages Application Relocation Guide form Detailed Income and Expenses Statutory Checklist Environmental Assessment Certifications Page SEEC-10 Affirmative Action Policy Statement Fair Housing Policy Statement Certification to Affirmatively Further Fair Housing HTCC Certification

16 Signature Pages – cont. 1.Complete signature pages 2.Print and sign 3.PDF as one single document 4.Upload as Signature Page

17 Funding Buttons New Funding Buttons Tailor Application to Your Needs

18 Core Items Click “Core Items” button before starting Application

19 Click on the Program Type you are applying for (For example “LIHTC”) Program Type will appear in yellow box (In this case no program type has been selected)

20 Boxes highlighted in yellow have drop-down choices

21 New Certification Page

22 Applicant must check off the appropriate box and sign page

23 Submission Applications must be submitted electronically through the State of Connecticut BizNet Portal. www.biznet.ct.gov Applicants may not submit applications as hardcopy. No Application materials will be accepted via email. Deficiency responses must also be submitted through BizNet Portal. Only hard copy requirements are: –Plans & Specs –CHFA Application Fee

24 BizNet Portal Account Set-up –Owner –Team members “Program Cycles” Multiple Applications Signature Pages Uploading Documents Send CHFA/DOH ConApp

25 Training Schedule CHFA/DOH Staff August 14 th @ CHFA August 27 th @ the Lyceum September 10 th @ the Lyceum Webinar in November

26 Consolidated Application Questions? CTConsolidatedApplication@CHFA.org


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