2016 LIHTC Qualified Allocation Plan (QAP ... - chfa home · PDF file2016 LIHTC Qualified...

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2016 LIHTC Qualified Allocation Plan (QAP), LIHTC Application New Look, And Introducing: the Procorem Website We want you to know!
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Transcript of 2016 LIHTC Qualified Allocation Plan (QAP ... - chfa home · PDF file2016 LIHTC Qualified...

  • 2016LIHTC Qualified

    Allocation Plan (QAP), LIHTC Application New Look, And Introducing: the Procorem Website

    We want you to know!

  • Tax Credit Team

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    Mike Pacheco

    Tasha Weaver

    Denise TamulisPaula Harrison

    Meghen Brown

    Kim Martin

    http://polaris/mysite/Person.aspx?guid=67426823-D481-4B0D-9921-5668DFD712FBhttp://polaris/mysite/Person.aspx?guid=67426823-D481-4B0D-9921-5668DFD712FBhttp://polaris/mysite/Person.aspx?guid=6D6FCC8D-E90F-494C-9919-8ABFF2376ACAhttp://polaris/mysite/Person.aspx?guid=6D6FCC8D-E90F-494C-9919-8ABFF2376ACAhttp://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240http://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411

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    For 2016 a few changes to the QAP some cosmetic changes to the LIHTC Application and the Introduction of the New Software we are rolling out this year will be discussed this morning.

    http://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240http://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240

  • State Credit-Amount Available (See Section 3.A.4, Page 13)

    For 2016 a total of $5 million in State Housing Credit will once again be available for non Disaster Relief areas.

    Applications due February 1, 2016

    An additional amount of State Housing Credit is available for the Disaster Relief areas.

    Applications are also due February 1, 2016

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    http://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240http://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240

  • 9% Competitive Federal Credit-Amount Available

    (See Section 3.A.4, Page 13)

    For 2016 a total of $13 million in Federal Housing Credit will be available.

    Letter of Intent Deadline is May 2, 2016

    Applications are due June 1, 2016

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    http://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240http://polaris/mysite/Person.aspx?guid=192A52C0-8C16-44FB-9224-0A6E9180D240

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    Critical Elements of the Selection Process for Projects Requesting

    State & Federal Housing Credit (See Section 2, beginning on page 5)

    Strong competitive projects will align with the Guiding Principals and meet all Criteria for Approval.

    Guiding Principles Criteria for Approval

    http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411

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    Critical Elements of the Selection Process for Projects Requesting

    State & Federal Housing Credit (See Section 3, beginning on page 15)

    Thresholds Project Checklists

    http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411

  • 2016 Priorities

    Priorities

    The following four priorities will apply to both Federal and State Credit:

    Projects serving homeless persons as defined in Section 5.B 5

    Projects serving persons with special needs as defined in Section 5. B 5

    Projects in Counties with populations of less than 175,000

    Projects in Counties impacted by a natural disaster this priority has been modified to state that projects that use 4 Percent Credit with State Credit and Community Development Block Grant Disaster Recovery (CDBG-DR) funds in the counties of Boulder, Larimer, and Weld counties will be given the highest priority

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    http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411http://polaris/mysite/Person.aspx?guid=6D150C59-F440-4DA9-8B15-60BD4028E411

  • State Credit Thresholds

    State Credit Threshold Requirements

    Legal Notice w/publishers Affidavit

    At the Applicants option it may use DOHs template (attachment C of the DOH application). The Notice must run at least 1 day at least 5 days before the LIHTC application deadline or submission of the application (deadline to publish: 1/26/16) The Developer must hold a public hearing in the community of the proposed project. CHFA must consider the comments from the hearing in the review and approval process for State Credits.

    Can meet both CHFA and DOH requirements if both sources and amounts are specified. List amount of STC requested and anticipated amount of equity.

    Sign-in sheet

    Written minutes

    Audio recording (digital format, i.e. smart phone)

    Applicants must demonstrate that there will be some monetary, in-kind, or other contribution benefiting the proposed project from the local government.

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  • State Credit Priorities Additional State Credit Priorities

    Projects using 4 Percent Credit and State Credit

    New Construction

    Readiness to Proceed priority for applications for Non-Disaster State Credit with 4 Percent Credit submitted by February 1, 2016

    Additional State Credit Criteria for Disaster Recovery

    Projects must receive CDBG-DR funds.

    Projects must be identified as priorities by local communities.

    Special consideration will be given to projects that demonstrate how the proposed project will meet the needs of those displaced by the natural disaster and provide an outreach plan.

    CHFA will use Colorado Division of Housing (CDOH) definitions of counties impacted by a natural disaster. Priority will be given to Boulder, Larimer, and Weld counties.

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  • Permanent Supportive Housing

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    Scoring section: Permanent Supportive Housing (PSH)

    Applicants selecting points for Homeless or Special Needs housing will need to provide the following documents to both CHFA and the Colorado Division of Housing at the time of application.

    Supportive Services Plan and Budget

    Memorandum(s) of Understanding with In-Kind Service Provider(s)

    https://www.colorado.gov/pacific/dola/2016-PSH-RFA

    https://www.colorado.gov/pacific/dola/2016-PSH-RFA

  • procorem Website

    The list of required documents is found starting on page 18 of the QAP.

    For 2016, all required documents must be submitted via the NEW procorem website.

    Instructions on how to access the Website will be provided to all projects submitting a Letter of Intent on or before the following dates at the latest:

    Jan 25th for the Non-Disaster Relief Areas

    Jan 25th for Disaster Relief Areas

    May 24th for the 9% Competitive Round

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    http://polaris/mysite/Person.aspx?guid=67426823-D481-4B0D-9921-5668DFD712FBhttp://polaris/mysite/Person.aspx?guid=67426823-D481-4B0D-9921-5668DFD712FB

  • procorem Website

    An Introduction of the site and instructions for new users will now be provided by Rob Horn of CHFA

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    http://polaris/mysite/Person.aspx?guid=67426823-D481-4B0D-9921-5668DFD712FBhttp://polaris/mysite/Person.aspx?guid=67426823-D481-4B0D-9921-5668DFD712FB

  • registering as a new user Check your email account for a message from

    [email protected] This may end up going into junk mail.

    Once the email is received double-click the Visit Procorem button.

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    http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1

  • registering as a new user Youll be taken to a new page to create your account.

    Enter a password, check the box indicating youve agreed to the terms and conditions, and select Sign Up Now

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    http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1

  • registering as a new user

    Upon successfully creating your account, youll be redirected to your home page.

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    http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1

  • getting around font office

    A recorded tutorial explaining the navigation and features of Procorem is available in the right panel of the home page. Click the arrow button circled below to get started.

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    http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1

  • uploading documents

    From the home page, click on View All x WorkCenters.

    Select the WorkCenter youd like to upload to.

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    http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1

  • uploading documents

    Once you have arrived at the WorkCenter page, the Upload Files page is in the upper right hand side of the screen.

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    http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1

  • upload documents

    This will prompt you to a screen which allows you to upload files. From here you can either choose the file from your directory or drag and drop multiple files directly from your computer into Procorem.

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    http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1http://polaris/mysite/Person.aspx?guid=2940876F-B2F7-443D-859C-46AB0C554AD1

  • creating and editing posts

    To make a post on a specific WorkCenter, first head into the