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Los Angeles Housing Department Affordable Housing Trust Fund Notice of Funding Availability 2011

Los Angeles Housing Department Affordable Housing Trust Fund Notice of Funding Availability 2011. Douglas Guthrie General Manager Helmi Hisserich Manuel Bernal Assistant General Manager Director, Major Projects March 24, 2011. HOUSING SERVICES DIVISION.

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Los Angeles Housing Department Affordable Housing Trust Fund Notice of Funding Availability 2011

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  1. Los Angeles Housing DepartmentAffordable Housing Trust FundNotice of Funding Availability2011 Douglas Guthrie General Manager Helmi Hisserich Manuel Bernal Assistant General Manager Director, Major Projects March 24, 2011

  2. HOUSING SERVICES DIVISION - If your project will have Section 8, verify with the LAHD underwriting staff how it may affect allowable rents- For Occupancy Monitoring/Compliance or Land Use covenant questions, call 213-808-8806

  3. Voluntary Acquisition Letters Voluntary Acquisition Letters are required for all projects, even those that do not involve relocation • Letter demonstrates that the project site(s) was/were not acquired under the threat of eminent domain • One Voluntary Acquisition Letter for every transaction/seller • Use retroactive letter template if the transaction has been completed • For project sites ground-leased from an agency with the power of eminent domain: acquisition documents will be requested from the ownership agency if the project is funded

  4. 2010 ROUND 3 EXTENSION The application period for proposals for two City-owned properties and $25 million in NSP2 for rehabilitation of abandoned or foreclosed buildings (Eligible Use B) is still open. Additional properties acquired with NSP funds by Restore Neighborhoods L.A. (RNLA) as well as LAHD multi-family foreclosed properties will soon be added to the list of available properties.

  5. RESUBMITTALS Unsuccessful 2011 Round 1 applicants may apply under 2011 Round 2 by submitting: • An updated LAHD Application, updated financial information (15-year cash flow projection and narrative financing plan) and an updated Universal Application with development budget; and • TCAC Attachments 5,16,21-25

  6. RESUBMITTALS Projects must also submit updated commitment letters and any other documents that are normally required by the NOFA but were not required at the time of application under Round 1 (i.e., market studies and appraisals, Phase I reports, etc.). If the reports were current as of the Round 1 deadline of January 18, 2011, they are acceptable under 2011 Round 2.

  7. 2011 Round 1 Recap • In 2011 Round 1, a total of $25.6 Million was awarded to seven projects totaling 484 units • Three PSHP projects were awarded $13 Million in funding • Four AHTF projects were awarded $12.5 Million in funding

  8. Round 1 – Permanent Supportive Housing

  9. Round 1 - Affordable Housing

  10. FUNDS AVAILABLE – ROUND 2

  11. ADDITIONAL FUNDS – ROUND 2 CRA Region funds will also be available in Round 2 for projects within the following CRA Regions: • Eastside Region: $497,084 • Harbor Region: $549,935 • Hollywood and Central Region: $180,000 • South L.A. Region: $494,457

  12. HUD 202 PROJECTS(NEW FOR ROUND 2) Within the $15 million set aside for Affordable Housing projects: • A maximum of one award will be available to a project seeking HUD 202 funding in combination with 4% tax credits

  13. UTILITY ALLOWANCE(NEW FOR ROUND 2) • Newly constructed projects in the design phase (brand new, never previously used buildings) must use the California Energy Commission (CEC) California Utility Allowance Calculator (CUAC). • The signing consultant must be qualified by the California Association of Building Energy Consultants’ (CABEC) Certified Energy Plans Examiner (CEPE) program, and must be a certified Home Energy Rating System (HERS) Rater or a California licensed mechanical engineer or electrical engineer. • Rehab projects or projects with Project Based Section 8 Vouchers from HACLA must use HACLA’s utility allowance.

  14. REVIEW PKG. CHECKLIST(NEW FOR ROUND 2) Certain documents from the LAHD Application must be submitted electronically (one cd per package): • Package 1: Documents for Environmental Review • Package 2: Construction Cost Review • Package 3: Architectural Review • Package 4: LAHD Business Policy Review • Package 5: Acquisition and Relocation Review Please refer to the Review Package Checklist on the AHTF webpage for the specific documents required

  15. LIMITS ON AWARDS • Two per developer (or any partners, including nonprofit General Partners) per round • No more than two awards to 9% tax credit senior projects per round

  16. TERM OF COMMITMENT • The term of the Round 2 AHTF commitment will be limited to one TCAC or 202 funding round.

  17. LOAN LIMITS

  18. LEVERAGING SOURCES Applicants must submit copies of applications with all attachments for one of the following leveraging sources* • TCAC 9% • HUD 202 or • Demonstrated committed public or private sources *except for required third-party reports not otherwise required by this NOFA, that will be outdated by the application deadline to the primary leveraging source Leverage source applications may be submitted in a binder or on cd. If submitting hard copies, two complete sets are required; if submitting on cd, one complete set is required.

  19. ZONING AND LAND USE • The applicant must demonstrate that the project will be able to meet all zoning and land use requirements prior to the issuance of an LAHD funding commitment • Affordable Housing Referral Form (Attachment E4) must be completed by the project sponsor and submitted to LAHD with the AHTF application; LAHD will forward the form to the Los Angeles City Planning Department • For the purposes of the NOFA application, TCAC Attachment 18A (Local Development Impact Fees) and Attachment 26A (Local Approvals) signed by the Development Team’s architect are acceptable

  20. ARCHITECTURE AND DESIGN • All projects must submit a Direct Construction Cost Summary, “Schedule of Values” (Attachment G2) for the proposed work • Submit two (2) sets of 24” x 36” architectural plans with a diskette • For “non-structural rehabilitation projects”, plans must indicate the proposed improvements to enable LAHD cost estimators to locate, quantify and confirm all proposed improvements

  21. APPLICATION SCORING • Projects will be ranked according to the lowest ratio of calculated gap financing, relative to the maximum eligible loan amount, including all eligible boosts • To assure maximum competitiveness, subsidies for 9% tax credit projects will be based on the amount necessary to achieve an apparent winning tie breaker • LAHD funding commitments will not exceed the amount within each leveraging source’s funding or credit ceiling

  22. PROJECTS WILL BE GIVEN PRIORITY IN THE FOLLOWING ORDER: 1. TCAC Non-Profit/Homeless or SRO Set-Aside projects, and projects with other sources of Homeless funding will be ranked equally 2. TCAC At-Risk set-aside projects 3. TCAC Los Angeles County Geographic Apportionment projects

  23. PRIORITY ORDER contd. 4. Projects with other sources will be ranked with the above applications only if proposed affordability levels are similar Projects with higher proposed average affordability levels will be given lower priority

  24. IMPORTANT DATES Application Deadline: 4/12/11 (changed from 4/11/11) Mayor and Council Approval: 7/5/11 TCAC Deadline: 7/6/11

  25. APPLICATION SUBMITTAL Applications must be delivered to one of the following addresses: Prior toOn April 12, 2011 12:00 p.m. on April 12, 2011From 12:00 to 4:00 p.m. Los Angeles Housing Department Los Angeles Housing Department Affordable Housing Trust Fund 1200 West 7th Street Attention: Tim Elliott, Manager Los Angeles, CA 90017 c/o LAHD Public Counter First Floor Hearing Room 1200 West 7th Street, 1st Floor Los Angeles, CA 90017 Telephone (213) 808-8596

  26. FOR MORE INFORMATION Los Angeles Housing Department: www.LACITY.ORG\LAHD 1200 West Seventh Street, 9th Floor, Los Angeles, CA 90017 Question and Answer: lahd_nofa@lacity.org Douglas Guthrie, General Manager Los Angeles Housing Department (213) 808-8808 douglas.guthrie@lacity.org • Manuel Bernal, Director Tim Elliott, Manager Major Projects Affordable Housing Trust Fund (213) 808-8901 (213) 808-8596 manuel.bernal@lacity.orgtimothy.elliott@lacity.org

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