KHC is pleased to announce that the 2017 non-credit application for multifamily projects is now available. This application is a non-competitive application open to nonprofit and for-profit applicants. Projects utilizing Low-Income Housing Tax Credits or Federal or State Historic Credits are not eligible to apply. Available funding sources for this application will be $1,000,000 of HOME Investment Partnerships Program (HOME), $1,000,000 of Affordable Housing Trust Fund (AHTF) and $1,000,000 of Small Multifamily Affordable Loan (SMAL). Funds will be awarded to the first projects to successfully complete the application stage, until all funds are depleted. To apply, applicants should access the Universal Funding Application and select the 2017 Non-Credit Application.
The application process will include the following stages: Pre-Application, Application, Technical Submission, Pre-Construction/Pre-Closing, Construction, and Construction Completion. Technical assistance meetings will be scheduled for each stage of the application. The level of technical assistance required at each stage will be at the discretion of the multifamily staff, depending on the developer’s multifamily experience. KHC will not impose a deadline for completing each stage, unlike with the competitive funding rounds. Each project will move forward at its own pace. Adherence to the current Multifamily Guidelines is required; however, not all documents listed in the Guidelines for each stage will be required for the non-credit projects since Housing Credits are not an eligible funding source with this application.
If you have any questions or to schedule the required technical assistance, please contact Trina Shields or Bridgette Quarles toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 756 or 285 respectively; TTY 711; or email tshields@kyhousing.org or bquarles@kyhousing.org, respectively.
