New Jersey’s 2019 Unified Application for HMFA Multifamily Rental Housing Production Programs (UNIAP) is now open. The UNIAP covers Multifamily Financing Programs, Low Income Housing Tax Credits and Supported Housing and Special Needs Programs. Applications for the nine percent LIHTC Family, Senior and Supportive Housing Cycles and Mixed Income Reserve are due by noon EDT on September 12.
Average Income Set-Aside:
Please be advised that nine percent Applicants will NOT be permitted to underwrite assuming the new “Average Income” or “Income Averaging” federal minimum set-aside election in 2019 applications.
All 2019 applicants must select either the 20 percent at 50 percent or 40 percent at 60 percent minimum set aside and adhere to current underwriting parameters (units underwritten above 60 percent of Area Median Income will be treated as market rate or unrestricted). After award, owners should notify the Agency of any substantive changes to the project, including a requested change in minimum set aside by no later than carryover/ binding commitment.
MFPHPP and Section 811:
Sponsors that wish to apply for $75,000 per unit capital subsidy through the Money Follows the Person Housing Partnership Program (MFPHPP) and Section 811 Project Rental Assistance (Sect. 811 PRA) in their nine percent applications must receive a conditional commitment no later than the August 15, 2019 NJHMFA board meeting.
Please submit your applications for MFPHPP to the Multifamily Supportive Housing and Lending Division and Sect. 811 PRA applications to the Property Management Division no later than July 11, 2019.
Projects seeking construction and/or permanent financing from NJHMFA should contact the Multifamily Supportive Housing and Lending Division at (609) 278-8884 as soon as possible. Applicants seeking a conditional financing commitment at the July 11, 2019 meeting of the NJHMFA Board must submit a financing application by no later than May 30, 2019. Applicants seeking a conditional financing commitment at the August 15, 2019 meeting of the NJHMFA Board must submit a financing application by no later than July 11, 2019.
Adopted 2019/20 QAP:
The adopted 2019/20 Qualified Allocation Plan (QAP), the Summary of QAP Public Comments and Agency Responses, and updated FAQs are available here.