1. For leveraging of additional soft funds, do the terms of the soft funds need to match the 2019 QAP requirements in Section XVI. Favorable Financing? The RFP allows deferred developer fee as a qualifying source whereas the QAP does not.
Yes. The terms of the soft funds (low-interest loans or grants) must match the 2019 QAP requirements in Section XVI. Favorable financing.
Deferred developer fee is an eligible source to qualify for points under the CDBG-DR RFP.
2. For leveraging of additional soft funds, if the terms in the RFP do not need to match the 2019 QAP Favorable Financing terms then what are the interest rate, loan term, and amortization period thresholds to qualify for points in this section of the RFP?
The terms of the soft funds (low-interest loans or grants) must match the 2019 QAP requirements in Section XVI. Favorable financing.
3. I have an eligibility question, section IV, Part B Bullet 4: projects without credits. If we apply for this RFA and request 9% credits, would we have had to submit a pre-app in March of 2019 to be eligible? Is the same requirement for 4% credit and bond request? If we did not submit a pre-app in March can we still participate (we have submitted a bond app this year for a deal, so we have been evaluated by DCA to be acceptable developers)
Applicants applying for 9% credits or 4% credits under this RFP did not have to submit a pre-app in March 2019. Applicants may submit a full application on July 8, 2019, which meets all applicable 2019 QAP Requirements and RFP requirements.
4. As I understand from the RFP that has been put out, all applications must be submitted by July 8, 2019, and they must commence within 9 months of receiving the Award Acceptance Agreement. My question is when will the AAA’s be awarded?
DCA anticipates reviewing applications in a 60-90 day period and announcing awards soon thereafter. Award Acceptance Agreements would be sent out after the announcement of awards, and any potential appeals.
5. Section IV. B. The RFA references that applicants may apply for 9% LIHTC. Is there a specified amount of 9% tax credits that have been allocated and are available via this RFA?
9% Credits for up to 3 new awards have been set aside under this RFP
6. Section IV B. If applying for 4% LIHTC, is the applicant required to have the bond inducement resolution included at the time of application or can that be provided at a later date?
The bond inducement resolution must be provided as part of the full application submission, due July 8, 2019.
7. Will the environmental study be required to include HUD's HERO Partner Worksheet?
The HERO partner worksheet is not required as part of the application submission.
8. Do you anticipate that the awards for this rfa will come after the 9% application cycle or will this be a faster review process?
DCA anticipates reviewing applications in a 60-90 day period and announcing awards soon thereafter.
9. Could DCA specify what is the correct scoring for this section? Is there another tier that scores 5 points or, is this a typo and the entire Section is 15 points?
“5 points” is a typo and should state “15 points.”
10. I am just verifying that we will fall under the HOME guidelines for the CDBG-DR RFA? Do we need to treat this application as a HOME application for submission purposes?
Applicants should include all additional documentation required for tax credit properties also applying for HOME/HUD funding. Applicants must meet all requirements of applicable notices on HUD’s website: https://www.hudexchange.info/programs/cdbg-dr/cdbg-dr-laws-regulations-a.... See the Federal Register Notices under the Header “2017 Events.”
