Post by Jeff Hall on Jul 20, 2023 14:42:35 GMT
We recommend the ruling making for this section of the program better align with OHFA's other development financing tools, particularly AHTC. With a TDC cap below that of what is afforded under that program, particularly for those developments planned in OZ or layering HTCs, you are effectively preventing the layering of tools that is needed in the current economic environment.
To provide an ease of staff underwriting and review, we also suggest further aligning the applications so that developers seeking the use of this subsidy indicate such within their AHTC application, with staff underwriting and potentially awarding both in the same timeline. While the timeline would mirror what is in place for NHTF, the suggestion here is to fully incorporate this incentive within the 2024 QAP.
To provide an ease of staff underwriting and review, we also suggest further aligning the applications so that developers seeking the use of this subsidy indicate such within their AHTC application, with staff underwriting and potentially awarding both in the same timeline. While the timeline would mirror what is in place for NHTF, the suggestion here is to fully incorporate this incentive within the 2024 QAP.