The Georgia Department of Community Affairs (DCA) Office of Affordable Housing (OAH) has released the proposed 2012 Qualified Allocation Plan (QAP). Several revisions include:

  • OAH proposes to reserve up to 30 percent of 9% credits to applications that propose to preserve existing affordable housing as opposed to the previous 1.8 million preservation set-aside;
  • The agency has proposed to remove the Choice Neighborhoods/HOPE VI set-aside for the 2012 funding round;
  • In anticipation of the expiring flat 9% credit rate in the HERA provisions, OAH is allowing rehab project applicants to choose whether to use the flat 9% credit or the Applicable Credit Percentage from the month preceding the application submission deadline. However, it is the applicant’s responsibility to ensure that the rehab is placed in service before December 31, 2013 if the flat rate is chosen. The agency has also clarified that applications for acquisition and new construction credits must use the Applicable Credit Percentage for the month preceding the application submission deadline;
  • OAH has proposed to collect a Site Analysis or Feasibility Study for Sustainable Communities as a requirement for the agency’s pre-application determination of eligibility;
  • For tax credit projects, construction financing and equity loan closing must occur no later than August 31, 2013 and the construction loan documents along with the limited partnership agreement must be submitted to DCA within 10 days of the closing deadline;
  • OAH has proposed to update the application tie-breaker determinants.
    Applicants wishing to receive 9% credits in 2012 should submit all pre-application materials by April 27, 2012, deadlines for 4% credit pre-application materials vary. The 9% credit application submission deadline is 4:00 PM on June 7, 2012.

OAH will hold two public hearings on the proposed 2012 QAP. The first will take place November 9, 2011 at 10 am at Dublin City Hall in Dublin, Georgia. The second public hearing will take place November 10, 2011 at 10 am at the Cobb Galleria Centre in Atlanta, Georgia.

To view the redlined draft 2012 QAP, click here.

To view the public notice about the upcoming QAP hearings, click here.