Kansas Housing Resources Corporation announces an application round for the National Housing Trust Fund (HTF) to be used with tax-exempt bonds and 4% floating tax credits. An HTF application packet may be obtained by contacting Cynthia Howerton at firstname.lastname@example.org.
Information about the HTF program is available here: https://www.hudexchange.info/programs/htf/
The application deadline is August 16, 2019 at 4:00 PM. Depending on the response, award decisions should be made in 60-90 days.
Awards in this round will include funds from the State’s 2020 HTF allocation, as well as any leftover funds from earlier allocations. Based on recent years, KHRC anticipates confirmation of the 2020 allocation in the spring of 2020, with funds available for commitment in early fall of that year.
The State of Kansas receives an annual allocation of $3 Million, of which $2.7 Million is available for HTF-assisted rental development activities. Although HTF funds are not part of the Federal budget appropriation process, applicants should keep in mind that the National Housing Trust Fund may be subject to change or modification through Congressional action.
When HTF funds are used in a development, a subsidy layering review determines the minimum number of HTF-assisted units based on a) the per-unit subsidy limit and b) the percentage of HTF funds to total eligible costs. Current HTF per-unit subsidy limits for Kansas are: 0 BR - $120,000; 1 BR - $136,000; 2 BR - $192,000; 3 BR - $240,000; 4 BR - $256,000.
HTF-assisted units must remain affordable to extremely low income (ELI) households for a period of 30 years following completion. KHRC will expect HTF units to be targeted at or below 30% of AMI. HTF rent and income limits are on HUD Exchange at https://www.hudexchange.info/programs/htf/.
The amount requested is not limited. However, available funding is limited, and KHRC will prioritize activities that effectively leverage other resources to produce the maximum number of units for ELI households.
Developments using HTF funds must comply with additional federal requirements, including environmental review provisions, Section 3 and MBE/WBE requirements, verification of non-debarment, the Uniform Relocation Act, etc. (Davis-Bacon is not required for HTF).
For more information, contact:
Barry McMurphy 785-217-2024 email@example.com
Fred Bentley 785-217-2029 firstname.lastname@example.org