Kentucky Housing Corporation (KHC) has developed an underwriting model review checklist to assist developers with completing the underwriting model and to minimize errors.  The checklist is located on KHC’s Web site, under Housing Production; Multifamily Finance; Application, Guidelines, and Underwriting Models.  Also, KHC has updated the 2011 Multifamily Programs Application Q&A.  The additional documents identified in the Q&A may be downloaded with the application.
KHC has also issued the following Application round reminders:

  • KHC is currently scoring capacity teams which have been submitted through the online application.  Developers have the opportunity to request reconsideration of capacity scores until Tuesday, February 15, 2011.  While capacity scores will continue to be scored and returned to the developers after that date, the scores will be final and no reconsiderations will be allowed.
  • KHC will begin allowing developers to submit completed applications as of Tuesday, February 22, 2011.  Please submit your application when it is complete.  There is no need to wait until Tuesday, March 1, 2011.
  • KHC will close the online application at 5 p.m. EST, Tuesday, March 1, 2011.

2011 Tax-Exempt Bond Application

The 2011 Tax-Exempt Bond Application is now available on KHC’s Web site, under Housing Production; Multifamily Finance; Application, Guidelines, and Underwriting Models.  Projects requesting tax-exempt bond conduit financing must complete the Tax-Exempt Bond Application and meet the requirements of the Qualified Allocation Plan.

Applicants requesting 9 percent Low Income Housing Tax Credits (Housing Credits) who are also submitting an application for tax-exempt bonds to fund a separate project within the Commonwealth of Kentucky may qualify to receive points if they have:

  • Submitted an application for KHC’s multifamily tax-exempt bond financing.
  • Identified an investor who will purchase the 4 percent Housing Credits.
  • Engaged an underwriter who will market or place the bonds.  

For additional information, please contact Andrew Hawes toll-free in Kentucky at (800) 633-8896 or (502) 564-7630, extension 326; TTY 711; or e-mail [email protected].