West Virginia Housing Development Fund has released the final version for its 2017 and 2018 QAP. The following changes were made:

1. Existing Housing in Most Need of and Most Suitable for Rehabilitation (pages 16-17) – Due to the considerable point differential between Tier 1 and Tier 2 and 3 properties, the Tier 2 score was increased from 50 to 75, and the Tier 3 score was increased from 25 to 50. This change results in a difference of 25 points between each tier group.

2. RD or HUD Financing or Guarantee (page 17) – The following wording was added to this section relating to the 50% financing threshold:
The only exception to the 50% financing threshold is for properties which are awarded points under the scoring criterion Maturing Mortgage with Expiring Project-Based Rental Assistance. Such properties will be awarded the points available regardless of the percentage of the total permanent financing the RD or HUD financing represents.

3. Favorable Financing (pages 18-19) – Due to the possibility of properties with small permanent loan amounts, the Fund amended the permanent financing origination fee language as follows:
• total financing origination fees including costs for lender legal review which is no higher than the greater of $5,000 or 1% of the permanent loan amount.

4. Proximity to Public Transportation (page 42) – the first alternative was amended as follows:
10 points will be awarded to properties which can demonstrate that such property is located within 1/101/5th of a mile from a public transportation stop (i.e.e.g. bus stop, PRT station, bus route with “hail and ride” stops), or that a public transportation stop will be added within 1/101/5th of a mile in conjunction with the establishment of the New Supply housing;

5. Tenant Populations with Special Housing Needs (pages 43-44) – the points were lowered to 20 points and the following wording added to this section:
An additional 5 points will be awarded to an Applicant that commits to target for occupancy the elderly tenant population.

6. Roofing Materials (pages 53-54) – Since the Fund is now awarding points for recently replaced roofs for existing housing only, the Fund has lowered the remaining manufacturer warranted life to 25 years. This adjustment is only applicable to the “existing housing properties only” section of the Roofing Materials criterion.

2017 LIHTC Application Workshop:
When: Tuesday March 21, 2017
Where: Holiday Inn & Suites Charleston West Virginia
Please note there is a new location for the training and that training has been reduced to one day.
Additionally, the new location offers shuttle services as well as other amenities.
This is a tentative date. When the plans are finalized, information will be forwarded to the mailing list and posted
to the WVHDF LIHTCP website.