CHFA-DOH Consolidated Application Training Presentation

Report
CHFA/DOH
CONSOLIDATED APPLICATION FOR
HOUSING DEVELOPMENT FINANCE
2014
Agenda
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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
Background to the New ConApp
• Preparing for the Web-based Application
• Proliferation of One-off applications
• Continued Leaning
• Ease of Applicant Use
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
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
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
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.
Overview of the Updated ConApp
• Navigation
– One Excel Workbook
– Program/Funding Source
Buttons
– Exhibit Checklist
– Appendices
• Accessible
– www.chfa.org
– www.ct.gov/doh
A Leaner Streamlined Application
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Notification Tab
Certification Page
No Zip File
70 appendices reduced to 6
New ConApp is the model for the
upcoming web-based application
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
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
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
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
Key Changes – cont.
• Prevailing Wage Information
• Narrative simplification
• Relocation
• Fair Housing
Signature Pages
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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
Signature Pages – cont.
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Complete signature pages
Print and sign
PDF as one single document
Upload as Signature Page
Funding Buttons
New Funding Buttons Tailor
Application to Your Needs
Core Items
Click “Core Items”
button before starting
Application
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)
Boxes highlighted in
yellow have drop-down
choices
New Certification Page
Applicant must
check off the
appropriate box
and sign page
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
BizNet Portal
• Account Set-up
– Owner
– Team members
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“Program Cycles”
Multiple Applications
Signature Pages
Uploading Documents
Send
CHFA/DOH
ConApp
Training Schedule
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CHFA/DOH Staff August 14th @ CHFA
August 27th @ the Lyceum
September 10th @ the Lyceum
Webinar in November
Consolidated Application
Questions?
[email protected]

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