ADFA 2011 HOUSING WORKSHOP

1. ADFA 2011 HOUSING WORKSHOP December 1, 2011 Jacksonville, AR Presented by Sara Oliver Sara.Oliver@ adfa.arkansas.gov 501-682-5903

2. ADFA 2011 HOUSING WORKSHOP • STAFF INTRODUCTIONS • HOUSEKEEPING ISSUES • PURPOSES OF THE WORKSHOP • AGENDA • HOME PROGRAM • MULTI-FAMILY PROGRAMS • COMPLIANCE MONITORING

3. ADFA 2011 HOUSING WORKSHOP ADFA staffing includes 26 Housing positions - 23 employees and 3 vacancies: • Single Family – 5 positions • Multi-Family – 4 positions; 1 vacant • HOME – 9 positions; 2 vacant • Compliance Monitoring – 6 positions • Administrative staff – 2 positions

4. ADFA 2011 HOUSING WORKSHOP ADFA HOUSING STAFF WORK AREAS • ADFA is responsible for administering over $372 million for 2010-11 • Sixty (60) MF developments in some stage of execution • Over 700 housing loans in Servicing • Over 26,000 units in Compliance portfolio • Two (2) PRLF, four (4) owner-occupied, one (1) CHDO, one (1) NSP III, one (1) Asst. Living, one (1) FAF, and 6 CHDO applications under review • 2011 HOME disbursements over $20 million (avg. $442,000 per week) • Report to HUD, IRS, Independent Auditors, Internal Auditors, State Bank Examiners, Rating Agencies • Perform research on housing policies, statistics, housing needs • Advocate for additional housing resources (Housing Trust Fund) • Developed eight (8) new programs within the last 3 ½ years • Provide technical assistance to developers at all capacity levels • Arrange and conduct Regional Workshop and other training events • Respond to requests for information on Housing Programs • General administration (planning, policy dev., hiring, evaluating, etc.)

5. ADFA 2011 HOUSING WORKSHOP ADFA HOUSING STAFF WORK AREAS (continued) • Participation on Governor’s Supportive Housing Task Force • Serve on Board of AR Teacher Housing Development Foundation • Serve on St. Louis Federal Reserve Bank CD Advisory Committee • Coordinate with Affordable Housing Association of Arkansas • Coordinate with ACHANGE • Continue to expend and report ARRA funds • Coordinate with Asset Manager on ARRA projects • Participation in Administrative Procedures Act and Legislative Council Review processes • Conduct Public Hearings • Prepare and distribute affordable housing information upon request • Coordinate with Legislature and provide information as requested • Attend as many ground breakings and opening ceremonies as possible • And solve problems when errors or miscommunication occurs

6. ADFA 2011 HOUSING WORKSHOP • It is in everyone’s mutual best interest to work together positively to address the significant and ever-increasing housing problems faced by low-income Arkansans. • Good partnerships, communication, collaboration, appreciation of varying perspectives, patience • Funding cuts have begun and are projected to worsen • Greater scrutiny by Legislative Council, which may significantly affect ADFA policy processes

7. ADFA 2011 HOUSING WORKSHOP • What isn’t working well: • Too many requests for changes • Incomplete / deficient applications • Too many requests for waivers / extensions • Incorrect assessment of homeowners financial position • Failure to submit complete applications • Not informing homeowners of their responsibilities • Submission of incomplete pay requests (missing signatures, inspection reports) • Failure to adequately assess building site for owner-occupied rehabilitation/reconstruction

8. ADFA 2011 HOUSING WORKSHOP • What is working well? • Accurate, correct, complete pay requests • Submitting complete, correct applications using application checklists • Providing responses to ADFA requests for information in a timely manner • Communicating with ADFA staff on issues related to potential applications, pay requests, needed information • Working with ADFA staff in a positive, cooperative manner

9. ADFA 2011 HOUSING WORKSHOP HOUSING UPDATES: • All Tax Credit Assistance Program (TCAP) funds committed ($20,463,053) • All Neighborhood Stabilization Program I (NSP I) funds committed ($19,600,000) • All Community Development Block Grant (CDBG) - Disaster funds committed ($10,134,098) • Likely a third effort will be necessary to allocate all NSP III funds ($4,750,000); only 1 applications recd. on 10/21/11 • $962,500 of Assisted Living Incentive Funds has been committed, leaving over $4,000,000 available • $1,190,552 (56%) of PRLF funds has been committed, leaving $934,448 available

10. ADFA 2011 HOUSING WORKSHOP HOUSING UPDATES (continued): • $2,541,115 in FAF/NBMIR funds available • HOME Program had a 12.2% funding cut for 2011 and anticipates a 38% cut for 2012 ($12,269,079 reduced to $7,606,829) • Fair Housing Memorandum of Understanding in place • AR Housing Trust Fund – created by 2009 Legislature, but currently unfunded • Messaging, polling, and other efforts are underway to secure funding in the 2013 Legislative session

11. ADFA 2011 HOUSING WORKSHOP Upcoming deadlines/events: LIHTC Carryover Deadlines: • Tuesday, December 6, 2011 • Wednesday, December 14, 2011 TCAP/Exchange Expenditure Deadline: • Wednesday, December 21, 2011 2012 Fair Housing Trainings 2012 LIHTC Application Deadline: • Friday, February 3, 2012 Next HOME Program Certification Training: • April, 24-26, 2012 at the Jacksonville Community Center

12. ADFA 2011 HOUSING WORKSHOP December 1, 2011 Jacksonville, AR Presented by Sara Oliver Sara.Oliver@adfa.arkansas.gov 501-682-5903