La. Admin. Code tit. 16 § II-105
Current through Register Vol. 50, No. 11, November 20, 2024
Section II-105 - Selection Criteria to Award HOME Funds for Affordable Rental HousingA. Applications for HOME funds will be rated in accordance with the selection criteria (Appendix IX) for which the applicant must initially indicate that the project qualifies.APPENDIX IX
Selection Criteria to Award Home Funds to Affordable Rental Housing Projects
The Applicant hereby requests priority consideration based upon the Project satisfying one or more of the following conditions (minimum threshold of 115 points required):
POINTS
A. Project Provides Amenities (attach description of amenities to be provided) 20 _____B. Project Provides Community Facilities 20 _____C. Ratio of Project's Intermediary Cost to Development Costs (See Page 5 for formula to calculate ratio)
(i) Less than or equal to 10 percent 20 ____(ii) More than 10 percent but less than or equal to 15 percent 15 ____(iii) More than 15 percent but less than or equal to 20 percent 10 ____(iv) More than 20 percent 0 ____D. As indicated in Section V on Page 8, 30 percent or more of project units serve households whose incomes are at the following percentages of median income(i) 20 percent or less 25 ____(ii) more than 20 percent but less than 30 percent 20 ____(iii) more than 30 percent but less than 40 percent 15 ____(iv) more than 40 percent but less than 45 percent 10 ____E. Project will enter Extended Low Income Use Agreement years of compliance period agreement to continue low-income restrictions(i) 20 years or more 10 ____(ii) 25 years or more 15 ____(iii) 30 years or more 20 ____F. Project Located in Qualified Census Tract/Difficult Development Area / RD Target Area 25 _____G. Project Serves Special Needs Groups [Check one or more](iii) Handicapped _____ (a) 100 Percent of units or 50 units serve special needs group 20 _____(b) 50 Percent or 25 units serve special needs group 15 _____(c) 25 Percent or 15 units serve special needs group 10 _____H. Project contains Handicapped Equipped Units(i) 5 percent but less than 10 percent 5 ____(ii) 10 percent but less than 15 percent 10 ____(iii) 15 percent or more 15 ____I. Project Serves Large Families Percentage of Units having Four or more Bedrooms (i) 5 percent but less than 10 percent 5 ____(ii) 10 percent but less than 15 percent 10 ____(iii) 15 percent but less than 20 percent 15 ____J. Project to Provide Supportive Services (attach description of Supportive Services to be provided, the costs thereof and the source of funding such services) 25 _____K. Project is Single Room Occupancy 10 _____L. Project is Scattered Site 30 _____M. Developer submitted an executed Referral Agreement with Local PHA pursuant to which Developer agrees to rent low income units to households at the top of PHA's waiting list 10 _____N. Project has RD Financing Commitment Letter 10 _____O. Project involves New Construction in Areas with 95 percent or more residential rental occupancy 10 _____P. Local Nonprofit Sponsor of Project 10 _____Q. Distressed Properties (written certification from HUD or RD that property is distressed must be included in application) 20 _____R. Project Receives Historic Tax Credits or involves Substantial Rehabilitation 25 _____ or
Project located in historic district but does not qualify for historic credits 15 _____
(Certification by local jurisdiction is required)
S. Project is an Abandoned Project 15 _____T. Vacant Units in Project as Percentage of Total Units(i) Minimum of 25 percent and less than 50 percent 10 ____(ii) Minimum of 51 percent and less than 75 percent 20 ____(iii) Minimum of 76 percent and less than 100 percent 30 ____U. Project involves Low Income Units which do not exceed:(i) 60 percent of the Total Project units 10 ____(ii) 50 percent of the Total Project units 15 ____(iii) 40 percent of the Total Project Units 20 ____V. Leverage Ratio (Divide Total Dollars from Sources other than HOME Funds by HOME Funds and round to nearest whole multiple)W. Project Involves Lease-to-Own of one unit buildings with Title Transfer to Occupant within 20 years of Placed in Service 25 _____X. Contact Person who Attended Agency sponsored Workshop Specify Name of Contact Person: ____________________ 10 _____Y. Developer Fees (including Builder Profit and Builder Overhead when there exists Identity of Interest between Builder and Developer) are 10 percent or less of Developer Fee Base 15 _____Z. Penalty Points(i) Net Syndication Proceeds < 110 percent Developer Fee 15 _____(ii) Incomplete or Missing Exhibits, Appendices or Documents (5 - Points to be deducted per item) Item 1. 5 _____
Item 2. 5 _____
Item 3. 5 _____
Item 4. 5 _____
5 or more Items:
Application will be deemed incomplete 5 _____
AA. Match Certification Matching Certification exceeds $50,000 50 _____
AB. LDED - Economic Development Project located in a geographic area certified by the Louisiana Department of Economic Development are eligible for points as follows: Areas with an Empowerment Zone/Empowerment Community (EZ/EC) designation 20 _____
Areas showing growth of 50 percent or more in economic indicators determined by LDED 15 _____
Areas with an EZ/EC Champion Community Designation 10 _____
AC. Phase I Environmental Site Assessment prepared by qualified environmental specialist provided with application 10 _____ Formula to Calculate Ratio of Project's Intermediary Cost to Development Costs:
Step 1: Add following amounts from Appendix II.
Line II.B (Land Improvements) $ __________
Line II.C(ii) (Demolition) $ __________
Line II.C(iii) (Rehab or New Construction) $ __________
total: $ __________
Step 2: Add Following Amounts from Appendix II.
Line II.D (Subtotal) $ __________
Line II.F (Subtotal) $ __________
Line II.G (Subtotal) $ __________
total: $ __________
Step 3: Divide Total of Step II by Total of Step I and specify percentage.
La. Admin. Code tit. 16, § II-105
Promulgated by the Department of Treasury, Housing Finance Agency, LR 19:908 (July 1993), amended LR 21:959 (September 1995), LR 22:717 (August 1996), LR 23:749 (June 1997), LR 24:1784 (September 1998).AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.1 et seq.