Connecticut Housing Finance Authority (CHFA) and Connecticut Department of Housing (DOH) released the following updates to the notice of funding availability (NOFA).

D. RAP Allocation

Applicants who require RAP certificates for tenant protection or financial feasibility are required to complete the RAP Rent Roll & Income and Expense Comparison workbook, which is a separate workbook from the Consolidated Application.  The RAP Rent Roll & Income and Expense Comparison can be found here.  Please contact your CHFA Asset Manager with any questions or concerns regarding completing this workbook.

E. Threshold requirement for Letter of Agreement from utility company

In the event that the applicant is unable to secure a Letter of Agreement for the local utility company prior to the April 20 deadline, DOH and CHFA will accept a Letter of Participation (LOP).  This LOP must document participation in EnergizeCT incentive programs, and include an estimate of potential incentives.

In order to request a LOP, the applicant must submit ConApp Exhibit 4.8.e – Energy Conservation to the local utility. Recipients of funding under this NOFA will ultimately be required to obtain and execute a tri-party Letter of Agreement (LOA) with the local utility company and DOH and/or CHFA prior to closing.

LOP requests from Eversource may be sent to  multifamily@eversource.com.

LOP requests from United Illuminating may be sent to elizabeth.murphy@uinet.com.

F. Selection Criteria

Applicants are strongly encouraged to seek other resources and leveraging opportunities to support their applications, including, among other resources, the HTCC funding round administered by CHFA.

Applying for 4% Low Income Housing Tax Credits (LIHTC) with Tax-exempt bonds?  Please note that, under this NOFA, CHFA will allow 100% of contingency to stay in basis.  The Multifamily Underwriting Standards Summary can be found here.

CHFA may provide other funding sources, such as Investment Trust Account (ITA) or Financing Adjustment Factor (FAF), to further support project feasibility.

A reminder that applications for funding under this NOFA must be submitted electronically through the State of Connecticut’s Biznet user portal no later than Monday, April 20, 2015 at 4:00 p.m.

The complete NOFA can be viewed at the DOH website here or at the CHFA website here.

Any questions or concerns regarding the NOFA or this update may be emailed to sshprfp@chfa.org.