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Multifamily Application Training

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Title: Slide 1 Author: dschluchter Last modified by: pkroona Created Date: 4/24/2008 3:49:06 PM Document presentation format: On-screen Show (4:3) Company – PowerPoint PPT presentation

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Title: Multifamily Application Training


1
Multifamily Application Training 2010
Consolidated Request for Proposals 2011 Housing
Tax Credits
2
(No Transcript)
3
Using GoToWebinar
  • How to submit questions

4

5
Agenda Overview
  • Assistant Commissioner of Programs - Patricia
    Hanson
  • Research Director - John Patterson
  • Funding, Priorities and Application Changes
    Diana Lund
  • Program Updates
  • LAAND Carol Dixon
  • Supportive Housing Amy Long
  • Housing Tax Credit Kasey Kier

6
Please hold as we transition to the next
speaker.
7
  • Minnesota Housing Assistant Commissioner
  • of Programs
  • Patricia Hanson

8
  • Please hold as we transition to the next
    speaker.

9
  • Minnesota Housing
  • Research Director
  • John Patterson

10
Community Profiles
  • Objectives
  • Identify higher need communities
  • Identify the type of investment needed
  • Basis
  • 20 indicators, for example
  • Homeownership rate
  • Percentage of renters who are cost burdened
  • Job growth
  • 5 categories of need

11
Categories of Need
  • Opportunities for Economic Integration
  • Opportunities for Community Stabilization
  • Opportunities for a Growing Workforce
  • Opportunities for Increasing Emerging Market
    Homeownership
  • Opportunities for Additional Affordable Rental
    Housing

12
Community Profile Layout
  • County and large city analyses
  • Sections
  • Background
  • 5 Need Categories (Maps)
  • Special Maps for 2010 Applications
  • 20 Indicators (Maps)
  • 20 Indicators (Data Tables)

13
Special Maps for 2010 Applications
  • Foreclosures
  • Highly impacted zip codes
  • Based on foreclosures, delinquencies, and
    unemployment
  • Economic Integration
  • High income census tracts
  • Based on Dept. of Revenue data

14
Using Community Profiles
  • Data resource
  • To be improved over time
  • Smaller geographies census tracts rather than
    counties and cities
  • Feedback from partners
  • Still provides useful information
  • Combine profile information with local and
    neighborhood-level data

15
Multifamily Construction Costs
  • Cost containment is a priority
  • Examining costs more closely
  • Industry data from RSMeans
  • Past projects funded by Minnesota Housing
  • Expertise of agency staff
  • RSMeans Construction Costs Basic 1 to 3 story
    apartment - 105K to 110K per unit in
    Minneapolis (excludes acquisition and soft costs)
  • Minnesota Housing projects have cost 18 more
    after controlling for several factors

16
Construction Cost Factors
  • Type of work (e.g. new construction vs. rehab)
  • Building type and features
  • Location
  • Size of project
  • Size of units
  • Added costs (e.g. historical preservation,
    environmental abatement, etc.)

17
Construction Cost Review
  • Minnesota Housing will assess costs
  • If costs are higher than expected, will ask for
    further justification or a reduction in costs
  • Assessment will include allowances for cost
    factors

18
Please hold as we transition to the next
speaker..
19
RFP Preferences
  • Foreclosure Remediation
  • Transit Oriented Developments
  • Cost Containment
  • Economic Integration

20
Foreclosure Remediation
  • Multifamily foreclosure criteria
  • Acquire and rehabilitate a foreclosed property
    located in a designated high-impact foreclosure
    zip code
  • Acquire and rehabilitate a foreclosed property
    that is not located in a designated high-impact
    foreclosure zip code
  • Acquire and/or rehabilitate a property that is
    located in a designated high-impact foreclosure
    zip code

21
Foreclosure Remediation
  • High need zip codes
  • 122 eligible zip codes statewide
  • Based on each zip codes
  • Foreclosure/REO rate
  • Delinquency rate
  • Unemployment rate
  • Proportion of non-prime, ARMs yet to reset
  • http//www.mnhousing.gov/resources/apply/multifami
    ly/MHFA_009340.aspx

22
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23
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24
Foreclosure Remediation
  • High need areas outside the high-need zip code
    if
  • Target area has a 10 sheriff-sales rate or more
  • Target area must have a minimum of 200
    residential parcels

25
Foreclosure Remediation
  • Application requirements
  • Target area map with identifying boundaries,
    including proposed development site(s)
  • Total sheriff-sales for the target area in 2007,
    2008 and 2009 (with a separate figure for each
    year)
  • Number of residential parcels in the target area
    (not the number of residential households)
  • See guidance on the RFP website

26
Foreclosure Remediation
  • Sheriff sales rate calculation
  • Total of 2007, 2008 and 2009 sheriff sales in the
    target area divided by the number of residential
    parcels in the target area
  • Partially completed new subdivisions are
    ineligible to be included in the sheriffs sale
    calculation

27
Transit Oriented Developments
  • Developments located in the 7 county metro area
  • Within ½ mile radius from Red Line station
  • Within ¼-mile radius from Blue Line public
    transit fixed route
  • Within ½-mile radius of Expressed Bus
    station/park and ride
  • Developments located in Greater Minnesota
  • Located within ½ mile radius from a public
    transit fixed route stop or station
  • http//www.mnhousing.gov/resources/apply/multifami
    ly/MHFA_009341.aspx

28
Transit Oriented Development - Metro
http//www.mnhousing.gov/resources/apply/multifami
ly/MHFA_009341.aspx

29
Transit Oriented Development Greater MN
  • Provide a map identifying the location of the
    development within ½ mile radius from a public
    transit fixed route stop or station
  • Include a copy of the route, span and frequency
    of the service
  • http//www.dot.state.mn.us/transit/Map/index2.html

30
Cost Containment Measures
  • The agency will be carefully reviewing each
    proposal for cost containment measures, without
    compromising the quality of the development.

31
Economic Integration
  • Multifamily
  • The proposed development provides at least 25
    but not greater than 50 of the total units in
    the development as affordable units. OR
  • The proposed development provides community
    economic integration by providing housing located
    in neighborhood with average incomes 150 or more
    above HUDs area median family incomes.
  • http//www.mnhousing.gov/resources/apply/multifami
    ly/MHFA_009339.aspx

32
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33
RFP Funding Availability
  • Deferred loan funding approximately 24 million
  • Preservation ARIF (PARIF) - 7 million
  • Publicly Owned Housing Program (POHP) - 6.5
    million
  • Ending Long-Term Homelessness Initiative Fund
    (ELHIF) -7 million
  • Flexible Financing for Capital Costs (FFCC) -
    3.5 million
  • Agency Wide Funding Pool
  • Economic Development and Housing Challenge
    Program (EDHC) Approximately 12 million
    (Agency-wide)

34
RFP Funding Availability
  • Low and Moderate Income Rental Program (LMIR) -
    up to 20 million
  • Funding Partners Approximately 4.4
  • Metropolitan Council Local Housing Incentive
    Account (LHIA)
  • Minnesota Department of Employment and Economic
    Development  (MN DEED) - Small Cities Development
    Program (SCDP)
  • Greater Minnesota Housing Fund (GMHF)
  • Department of Human Services Adult Mental
    Health Division (DHS-AMHD), Housing with Supports
    for Adults with Serious Mental Illness (HSASMI)
    Program Operating Subsidy

35
Application Materials Location http//www.mnhousin
g.gov
36
Application Information and Requirements

37
Master Application Checklist
38
Master Application Checklist

39
Application Upload Utility
40
Application Upload Utility
41
Application Upload Utility
42
Multifamily Rental Housing Common Application
43
Multifamily Rental Housing Common Application
44
Multifamily Rental Housing Common Application
45
Multifamily Rental Housing Common Application
46
Multifamily Rental Housing Common Application
47
Multifamily Rental Housing Common Application
48
Application Deadline
  • Submittal Deadline
  • Tuesday, June 15, 2010, 500 p.m.
  • Minnesota Housing
  • 400 Sibley Street, Suite 300
  • St. Paul, MN 55101

49
Application Submittal
  • Submittal
  • Send your electronic documents to
    https//online2.mhfa.state.mn.us/rfp-upload/index.
    aspx
  • Executed original PLUS 2 copies
  • For Housing Tax Credits, the Application must be
    signed by one general partner (and the non-profit
    partner, if appropriate), officer, director or
    corporate officer

50
Please hold as we transition to the next
speaker..
51
Land Acquisition for Affordable New Development
(LAAND)
  • Initiative of Minnesota Housing, Family Housing
    Fund and Metropolitan Council
  • See Initiative Description on web for details
  • Land costs an impediment to producing affordable
    housing
  • Acquire sites for future development consistent
    with communitys future affordable housing goals
    and strategic growth
  • Development to occur within 5 years after
    acquisition

52
LAAND
  • Eligible applicants
  • Local units of government and/or their housing or
    development agencies or non-profit organizations.
  • Met Council Funding
  • Only communities within the seven-county
    metropolitan area participating in the Livable
    Communities Act Local Housing Incentive Account
    program area eligible to receive Metropolitan
    Council LAAND loan (or LHIA grant) funds.
  • Affordability targets
  • 20 of units must be affordable to households
    with incomes
  • At or below 60 Area Median Income (AMI) in Metro
  • At or below 80 AMI in Greater Minnesota

53
LAAND
  • Location Criteria
  • Consistency with strategic growth concepts in
    Initiative description
  • Specific transit ways (2030 Transit way System)
  • Proximate to bus service, other transit options
    (see Web for specific transit way information)
  • Funding priorities
  • Strategic growth location criteria
  • Development facilitates economic integration
  • Sites near employment/wage growth centers or with
    low-wage jobs as a greater share of local
    employment
  • Financial or in-kind contributions that improve
    housing affordability

54
LAAND
  • Complete Single family standard RFP or CRV
    application and supplement LAAND questions on web
  • Note some application sections do not require
    completion ()
  • Questions?
  • Contact Carol Dixon at 651-296-0756 or
    carol.dixon_at_state.mn.us

55
Please hold as we transition to the next
speaker.
56
Ending Long Term Homelessness
  • Goal To end long term homelessness
  • Strategy Create 4,000 supportive housing
    opportunities
  • Need An estimated 4,400 experience long term
    homelessness, including 800 children
  • 57 report serious mental illness
  • 33 report chemical dependency
  • 35 report symptoms of brain injury
  • 54 report prior incarceration
  • 14 report status as military veterans

57
Ending Long Term Homelessness
  • Results to date
  • 2,800 housing opportunities funded
  • 62 scattered site
  • 38 site based
  • 1,754 households have housing
  • 41 families w/ children
  • 39 single men
  • 20 single women

58
Ending Long Term Homelessness
Housing Opportunities Created Under the Business
Plan
59
Ending Long Term Homelessness
  • Supportive housing is working
  • 86 of households served maintained housing
  • Emergency expenditures are reduced
  • Public funds are used more effectively
  • Success stories

60
Ending Long Term Homelessness
  • Ending LTH agency priority
  • 2009 Wilder Study
  • 22 increase in homelessness
  • 27 increase in homeless families w/ children
  • 39 increase in homeless unaccompanied youth
  • 39 adults homeless due to eviction, foreclosure,
    or failure to renew lease (up from 32 in 06)
  • Business Plan recalibration

61
Ending Long Term Homelessness
  • Next Steps
  • Contact agency staff for technical assistance
  • Partner with local service providers
  • Partner with community stake holders

62
Ending Long Term Homelessness
  • Thank you!
  • Fantastic results to date
  • Lessons learned
  • Partnerships collaboration
  • Increased awareness understanding

63
For More Information Supportive Housing
Contacts
  • Amy Long, 651-296-0751
  • amy.long_at_state.mn.us
  • Ken Doresky, 651-284-3177
  • Ken.doresky_at_state.mn.us
  • Susan Haugen, 651-296-9848
  • susan.haugen_at_state.mn.us
  • Vicki Farden, 651-296-8125
  • vicki.farden_at_state.mn.us
  • Elaine Vollbrecht, 651-296-9953
  • elaine.vollbrecht_at_state.mn.us
  • Ji-Young Choi, 651-296-9839
  • ji-young.choi_at_state.mn.us

400 Sibley Street, Suite 300 St. Paul, MN 55101
651-296-7608 800-657-3769 TTY
651-297-2361 www.mnhousing.gov
64
Please hold as we transition to the next
speaker..
65
  • 2011 Housing Tax Credits

66
2011 Housing Tax Credits Application Timeline
  • Round 1
  • Applications Due June 15, 2010
  • Selections Announced October 28, 2010
  • Round 2
  • Application Due February 1, 2011
  • Announcement Date April 28, 2011

67
2011 Suballocators Joint Powers
  • Suballocators Apply directly to Suballocating
    Agency (nonprofits may apply to both the
    suballocator and to Minnesota Housing. For profit
    developers may ONLY apply to the suballocator)
  • City of Minneapolis
  • City of St. Paul
  • Dakota County
  • Washington County
  • Joint Powers Administered by Minnesota Housing
    (apply to Minnesota Housing and submit a copy of
    the entire application to the Joint Powers
    Suballocator)
  • City of Duluth
  • City of Rochester
  • City of St. Cloud

68
Tax Credit Minimum Requirements
  • Threshold Requirements (Round 1)
  • Metropolitan Area
  • Greater Minnesota
  • Special Populations
  • Preservation
  • RD
  • Minimum Set-Asides
  • 20 at 50
  • 40 at 60
  • Minimum Points
  • 30 for Competitive Credits
  • 40 for non-competitive Tax Exempt Bonds with HTC

69
2011 Housing Tax Credits Geographic Distribution
of Credit
  • 2011 credit cap 11,059,049
  • 2.10 per capita
  • 5,266,214 population figure
  • 10 is set-aside for qualified nonprofits
  • State divided into two geographic areas
  • Greater Minnesota Pool
  • Metropolitan Pool

70
2011 Geographic Distribution
  • Greater Minnesota (38) 3,582,196
  • RD/Small Projects (set-aside) 200,000
  • 3,782,196
  • Metropolitan (62)
  • Minneapolis 1,257,639
  • Saint Paul 937,367
  • Washington County 483,802
  • Dakota County 893,553
  • MN Housing Admin. 2,598,588
  • 6,170,949

71
2011 Geographic Distribution
  • Nonprofit Set-Aside (10 of annual credit)
  • Greater Minnesota 420,244
  • Metropolitan 685,660
  • 1,105,904

72
  • Overview of changes Minnesota Housing 2011 QAP

73
Overview of 2011 QAP Changes
  • Seven principle changes
  • Six impact scoring criteria
  • No statutory revisions for 2011

74
Local/Philanthropic Contributions
  • Excludes loans from the calculation unless they
    are deferred with a minimum term that is
    co-terminus with the HTC declaration at or below
    the AFR
  • Clarifies that contributions from any part of the
    ownership entity will be considered GP cash
    unless from a local govt entity or charitable
    organization pursuant to a funding competition

75
Readiness to Proceed
  • For syndication proceeds to be included
  • Must be awarded in a previous round
  • Must provide verification of syndication proceeds
  • Added 4 non-financial readiness items
  • Land use and zoning approvals
  • Title work and survey (survey only if located on
    tribal trust land)
  • Verification all infrastructure is in place
  • Draft building permits

76
Preservation of Federally Assisted
  • Points increased from 10 to 20
  • Preserves federally assisted low income housing
    at risk of converting to market rate within 2
    years of the application
  • Applicant agrees to continue renewals of PBA and
  • Maintain the HTC requirements for 30 years
  • Identity of Interest requirement
  • Appraisal required post selection

77
Smoke Free Buildings
  • Institute and maintain a written policy
    prohibiting smoking in all units and common areas
  • Required for term of HTC declaration
  • Include procedures for transitioning to
    smoke-free for existing residents
  • Consequences determined by owner and incorporated
    into the written policy
  • Supports mission of sustainable, healthy housing
    and reduces management costs

78
New RFP and HTC Priorities
  • Transit Oriented Development
  • ¼ or ½ mile of public transit station or stops
  • Refer to Met Council transit maps
  • Temporary Priority Foreclosed Properties
  • Community Economic Integration
  • 68 eligible census tracts in the metro area
  • Points only available in Round 1

79
Application Notes
  • Use 2011 Tax Credit Materials
  • http//www.mnhousing.gov/housing/tax-credits/alloc
    ation/MHFA_009377.aspx
  • Document, document, document
  • Attach documentation to Self-Scoring Worksheet
  • Declaration/LURA

80
For More HTC Information Contact
Kasey Kier 651-284-0078 kasey.kier_at_state.mn.us
Bob Porter 651-297-5142 robert.porter_at_state.mn.us
Karen Hassan 651-284-3180 karen.hassan_at_state.mn.
us Phil Hagelberger 651-297-7219 phillip.hagelberg
er_at_state.mn.us
400 Sibley Street, Suite 300 St. Paul, MN 55101
651-296-7608 800-657-3769 TTY
651-297-2361 www.mnhousing.gov
81
Please hold as we transition to the next speaker
82
Contacts
  • Central Region  Wendy Bednar 651.297.3540 wendy.be
    dnar_at_state.mn.us
  • Southeast Region Susan Thompson 651.296.9838 susan
    .thompson_at_state.mn.us
  • Southwest Region  Phil Hagelberger 651.297.7219 ph
    illip.hagelberger_at_state.mn.us
  • Northwest Region  Phil Hagelberger 651.297.7219 ph
    illip.hagelberger_at_state.mn.us
  • Northeast Region Terri Parker 651.297.5141 terri.
    parker_at_state.mn.us
  • West Central Region  Ted Tulashie 651.297.3119 ted
    .tulashie_at_state.mn.us

83
Contacts
  • RFP Coordinator  Diana Lund 651.296.7991 diana.lun
    d_at_state.mn.us
  • Housing Tax Credit Lead  Kasey Kier 651.284.0078 k
    asey.kier_at_state.mn.us
  • Supportive Housing Lead Amy Long
  • 651.296.0751
  • amy.long_at_state.mn.us
  • LAAND Lead
  • Carol Dixon
  • 651.296.0756
  • carol.dixon_at_state.mn.us
  • Multifamily Front Desk
  • 651-297-3294
  • or
  • 1-800-657-3647

84
Questions
85
(No Transcript)
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