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Multifamily Programs Funding Announcement
Kentucky Housing Corporation (KHC) is pleased to announce the funding awards for the Fiscal Year 2017 application round competing for 2017 Low Income Housing Tax Credits (Housing Credits) and other program resources. KHC received 38 applications requesting in excess of $31 million in Housing Credits, and was able to fund 18 projects with $9,906,747 of 2017 Housing Credits in conjunction with other KHC resources, including funds from the HOME Investment Partnerships Program (HOME) and Affordable Housing Trust Fund (AHTF) totaling $957,700.  
 
This funding round supports the creation or preservation of 861 units of affordable rental housing in 14 counties in Kentucky. A listing of awards is available on KHC's website, under Development, Multifamily, 2017 Multifamily Funding Report.  
 
Applicants are encouraged to contact their assigned program specialist identified in the award notification for additional information regarding their project. KHC values our partnerships and appreciates all of the applicants' commitment to providing affordable housing in Kentucky.  
 
If you have any questions, please contact Jeremy Ratliff toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 707; TTY 711; or email jratliff@kyhousing.org
Novogradac Updates Rent and Income Limit Calculator
On April 14, 2017, the complimentary Novogradac Rent and Income Limit CalculatorĀ© updated version was released in its beta version to include fiscal year 2017 rent and income data. The Rent and Income CalculatorĀ© will calculate federal low-income housing tax credit (LIHTC) rent and income limits for every county and metropolitan statistical area (MSA) in the United States.

If you have questions about the income limits, please contact Thomas Stagg at thomas.stagg@novoco.com.
HOME Commitment Deadlines are Close
All HOME and AHTF single-family projects, which were funded February - April 2017, have commitment deadlines of Friday, June 30, 2017. All project set-ups should be submitted no later than Friday, June 23, 2017, to allow enough time for approval.
HCA Programs Modification/Waiver Request Process 
Housing Contract Administration (HCA) sub-recipients may seek a modification or waiver of program requirements that would otherwise adversely impact their ability to carry out program activities. HCA, at its sole discretion, may consider a modification/waiver request from a sub-recipient in regard to requirements identified in program policies and guidelines. The sub-recipient must submit the HCA Modification/Waiver Request along with the appropriate and necessary supporting documentation. The modification/waiver request must include:  
  • Details of the specific requirement for which the modification/waiver is being requested;
  • Detailed explanation of why the requirement cannot be met (as justification for the request); 
  • Any additional information the sub-recipient would like HCA to consider with the request.
Approval of the request is at the sole discretion of Kentucky Housing Corporation.    

HCA will provide the sub-recipient a response approving or denying the request.  

The    HCA Project Modification/Waiver Request  form is available on the HCA Help Desk  under Compliance.  
Trent Village Ribbon Cutting 
On May 1, 2017, Jeremy Ratliff, managing director of Multifamily Programs and Asset Management, spoke during the Trent Village ribbon cutting ceremony in Lexington, Kentucky. Trent Village is a senior living community that offers 41 affordable living one-bedroom and 13 two-bedroom apartments for qualifying residents. For this project, KHC allocated $787,514 in Housing Credits, which will be leveraged into over $6 million in equity from Ohio Capital Corporation for Housing. KHC also contributed $300,000 from the Affordable Housing Trust Fund. 

This lovely campus includes a community center for neighbors to gather, secure entrances, and spacious grounds that encourage relaxation. The apartments were planned with universal design features, carpeted bedrooms, modern appliances, and open kitchens.
 
Career Opportunities
  KHC has the following positions available! Join us in helping Kentuckians find safe, quality, affordable housing.

Managing Director, Business Logistics
Business Logistics
Salary Rate: $75,226 - $97,793
Please respond no later than Tuesday, May 16, 2017.

Mortgage Loan Closer and Quality Control Specialist
Single-Family Programs
Salary range: $32,963 - $41,204
Please respond no later than Friday, May 12, 2017.
 
Full details are available on KHC's website, under About, Careers.
 

DO NOT REPLY-This is an unmonitored email address. 

 

Kentucky Housing Corporation prohibits discrimination on the basis of race; color; religion; sex; national origin; sexual orientation or gender identity; ancestry; age; genetic information; disability; or marital, familial, or veteran status. 

 

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