The Colorado Housing & Finance Authority has released a redlined, draft version of its 2011 Qualified Allocation Plan for review by industry stakeholders. CHFA will hold a public hearing on Friday, October 8 to solicit comments and discuss proposed changes. A summary of proposed changes is provided below:
- Updates criteria for project approval relating to experience and track record of the development team, and total project costs per unit;
- Revises the make-up of CHFA’s Tax Credit Committee and specifies that the Committee makes all approvals for reservations, rather than the Executive Director;
- Provides a $1.25 million set-aside for the second phase of the South Lincoln Homes redevelopment project, sponsored by the Denver Housing Authority;
- Requires local, state or federally funded project-based rental assistance or operating subsidies by projects in order to score points for 30% AMI units; and
- Eliminates the option of paying a reduced fee for resubmitting an application in a subsequent round.
