Indiana Housing and Community Development Authority is seeking comments on its draft 2012-2013 Qualified Allocation Plan (QAP). The changes would take effect for the next funding round in the Fall of 2011 with credits awarded early 2012. Some changes to the new two year QAP include:
- No Development shall be entitled to apply for any Rental Housing Financing reservation or allocation until the highest elected official of the local jurisdiction and IHCDA is notified at least 30 days prior to the application submittal.
- Current photographs of the project site; include images looking out toward each of the cardinal directions must be included. If this is a rehabilitation project, images of each façade of the existing structure(s) must be included as well.
- The architects’ fees, including design and inspection supervision fees must be limited to five percent (5%) of the total hard costs plus site work, general requirements, overhead, profit and construction contingency.
- Infill Attribute: 7 points will be awarded to applications that meet IHCDA’s criteria for Infill. IHCDA defines infill housing as the process of reclaiming areas where assets have been completely lost or are severely blighted, by redeveloping vacant or underused parcels of land within existing urban areas that are already largely developed or previously developed. For purposes of this category, Agricultural Land does not qualify as infill housing.
- Off-Site Improvement Costs: 10 points will be awarded if a third party (foundation, trust, government entity, or private corporation) investment of resources is provided that will result in off-site infrastructure improvements adjacent to the project site, and/or the development of parks, green space and shared amenities, recreational facilities and improvements adjacent to the proposed project site that will serve the tenant base for the subject project. To qualify for points, the minimum cost for the improvement must meet or exceed the amount based on the “Development Location” set-aside requirements defined in Section E.4. (e.g. Minimum cost for the improvement for a Large City= $150,000, Small City= $100,000, Rural= $50,000)
- Adoption of additional points awarded to participating Minority Business Enterprise (MBE), Women Business Enterprise (WBE), Federal Disadvantaged Business Enterprise (DBE), Veteran-Owned Small Business (VOSB), and Service Disabled Veteran Owned Small Business (SDVOSB).
The deadline for all written comments is June 3, 2011. Comments may be sent to the attention of J. Jacob Sipe, Chief Real Estate Development Officer at 30 S. Meridian, Suite 1000 Indianapolis, IN 42604 or email jsipe@ihcda.in.gov.
The public hearing regarding the 2012-2013 Qualified Allocation Plan will be held Wednesday, June 1st, 2011 from 11:00 am. — 1:00 p.m. (EST) at the Indiana Housing and Community Development Authority offices located on the 10th floor in training rooms 1, 2, & 3).
