Qualified Allocation Plans Category Archives

West Virginia AHP Webinar – June 14

The Federal Home Loan Bank of Pittsburgh will be hosting a webinar on June 14, from 11 a.m. to noon ET, that will provide participants with important information about how to apply for and secure funding through FHLBank’s Affordable Housing Program (AHP). A total of $20 million − $750,000 per project − is available to support many types of affordable housing. Register here. 

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Florida Issues Multifamily Development Cost Increase Pro Forma Survey

Florida Housing created a Multifamily Development Cost Increase Pro Forma Survey Template to gather some basic information on the current status of proposed Developments that have not yet filed a Notice of Commencement. Florida Housing intends to gather this data to assist in determining any future recommendations for actions that can be offered to the Board of Directors in addressing the dilemma of the rapid increase in construction costs over the past year and the consequential issues related to adequate funding resources needed to provide a viable Development and to maintain a reasonable Total Development Cost Per Unit  Limitation process.

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CHFA’s Opportunity Fund

A pool of up to $3,000,000 is available as gap financing for proposed developments that demonstrate both a financial feasibility need and a prudent use of CHFA’s resources in order to accomplish flexibility and additional opportunities in the development of affordable housing throughout the State of Connecticut. Please note that funding is subject to ongoing availability and further information detailing all eligibility requirements is available here. 

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CHFA’s Affordable Housing Fund (Capital Magnet Fund + CHFA’s matching investment)

A pool of up to $6,000,000 is available for proposed developments that satisfy Capital Magnet Fund (CMF) program requirements specific to CHFA, which, among other requirements, includes: 

1. Resident population: Minimum set-asides for households with incomes less than 50 percent of area median income; 
2. Location: Eligible proposed developments must be located in areas of economic distress and 
3. Leverage: Eligible proposed developments must achieve a private leverage capital ratio of 10:1. 

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$1 Million in Gap Financing Available from Connecticut

In connection with the 2021 Connecticut Housing Finance Authority (CHFA) & Department of Housing (DOH) Developer Engagement Process (DEP), CHFA intends to make flexible gap financing available from new funding sources. CHFA encourages participants in the 2021 DEP to consider the potential contribution and applicable requirements that these new funding sources would bring to development proposals with a need for additional financing resources. A maximum of $1,000,000 is available for any proposed eligible development.

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