Oregon Housing and Community Services (OHCS) released a status update on the Consolidated Funding Cycle (CFC) redesign process. The redesigned CFC is meant to be more efficient and effective process for allocating multi-family housing resources, including the Low-Income Housing Tax Credit and HOME funds. OHCS initially planned to release its final recommendations for the process in January 2013, but OHCS has postponed its timeline to February 2013 in order to allow for further discussion and feedback from its partners.
Over the past six months, several workgroups at OCHS have been focused on five main areas for improving the CFC process. Through their analysis of previous allocation methodologies and current state housing needs, the workgroups have developed a working proposal for a new allocation methodology based on the needs analysis research conducted by OHCS. They are now working to finalize its scoring criteria, which will be a critical step in determining how these new priorities and allocation targets will impact funding decisions. Click here to read a detailed report on their findings and initial recommendations.
OHCS will continue to meet with stakeholders and partners to discuss current proposals and to collect feedback on the potential impacts of these changes. Those who wish to share comments or concerns are encouraged to contact their Regional Advisor. They will be gathering feedback to be considered while finalizing the new multi-family funding allocation model.
For further updates on the CFC redesign process, please continue to check the department’s Multifamily Housing Announcements site.