|
|
| |
|
2021 Multifamily Housing Credit Application Opens May 15, 2020
As a reminder, Kentucky Housing Corporation (KHC) will open the Universal Funding Application for the 2021 competitive Housing Credit funding round tomorrow, Friday, May 15, 2020, with an application due date of noon ET Thursday, August 20, 2020.
KHC is also making gap funding of $1 million of HOME Investment Partnerships Program (HOME) and $1.5 million of Affordable Housing Trust Fund (AHTF) available to Housing Credit applicants.
Development team members who have not received a capacity approval letter, or whose capacity approval letters have expired, must submit the Development Team Capacity Application no later than 60 days prior to the application submission deadline or Monday, June 22, 2020.
If you have any questions, please email multifamily@kyhousing.org.
|
|
Multifamily Predevelopment Loan Product
KHC is once again offering its predevelopment loan product for financing predevelopment and preconstruction costs related to affordable multifamily housing projects, either new construction or substantially rehabilitated, that receive an allocation of 9% Low Income Housing Tax Credits (Housing Credits). Applicants may request a predevelopment loan of up to $500,000 as part of the 2021 Housing Credit application. A signed Credit Report Certification must be included with the application attachments.
More information related to the terms and conditions of the predevelopment loan product can be found on KHC's website under Development, Multifamily, Underwriting Resources, Predevelopment Loan Terms and Conditions. If you have any questions, please contact Tracy Thurston toll-free in Kentucky at 800-341-5622 or 502-564-7630, extension 218; TTY 711; or email tmthurston@kyhousing.org.
|
2020 Homebuyer New Construction Closeouts - Update on Recycled Funds
For projects funded with AHTF (or non-CHDO set-aside HOME funds) that generate Program Income and proposed using recycled AHTF (or recycled HOME funds) for future units, the Program Income should be returned to KHC, notating the project number on the accompanying documentation. KHC will return the Program Income to the project level, which will be available to the subgrantee for future set-ups. If you have any questions, please contact Keli Reynolds at kreynolds@kyhousing.org.
|
Don't Forget WAP COVID-19 FAQs
|
|
HOME TBRA Competitive Application - Deadline is May 18, 2020
Kentucky Housing Corporation (KHC) is now accepting applications for the HOME Investment Partnerships Program (HOME) Tenant-Based Rental Assistance (TBRA) program on the Universal Funding Application (UFA). The submission deadline is 8 p.m. ET Monday, May 18, 2020.
The 2020 HOME TBRA Competitive Application Guidelines, which includes specific information about how to apply for this funding round, pertinent dates, required application fees, and sample application scoresheet are available on KHC's website under Development, Single-Family, HOME TBRA.
Applicants must meet minimum thresholds to submit an application. New applicants are welcome.
Minimum Thresholds
- HOME funds awarded in 2019 (project numbers beginning with TB19) are not eligible to apply for this round of TBRA funds.
- HOME funds awarded in 2018 (project numbers beginning with TB18):
- 70 percent of funds must be expended no later than the application submission to KHC. All draw requests required to meet this threshold must be submitted to and approved by KHC no later than the application submission deadline date of 8 p.m. ET Monday, May 18, 2020.
|
Public Comment Period
The amended 2015-2019 Consolidated Plan and amended 2019 Annual Action Plan is available for public comment Monday, May 11, 2020, through Tuesday, May 19, 2020.
Kentucky has amended the
2015-2019 Consolidated Plan and
2019 Annual Action Plan and is receiving written comments to obtain public input. Written comments will be accepted, and where applicable, will be incorporated into the document.
The Consolidated Plan is the Commonwealth's application and distribution plan for the U.S. Department of Housing and Urban Development (HUD), Office of Community Planning and Development Programs (CDBG, ESG, HTF, HOME, and HOPWA). KHC and the Department for Local Government (DLG) are the agencies responsible for submission of the plan to HUD.
KHC and DLG recently received additional funding allocations through the CARES Act for CDBG, ESG, and HOPWA, necessitating amendments to planning documents.
The amended
2015-2019 Consolidated Plan and
2019 Annual Action Plan are available for review on
KHC's website. Please send written comments by email to
corpplanreport@kyhousing.org.
Equal Housing and Equal Employment Opportunity
|
|
| |
|
