Reports + Articles


OHCS Announces Rehab Funding for Projects in Existing Portfolio

OHCS issued a competitive Request for Application (RFA) for rehab at projects in its existing portfolio that need to “address life, health, and safety issues or demonstrate an urgent need for repair or assistance in order to remain operational and viable.” Top priority will be for properties experiencing immediate life, health, and safety issues, with a secondary consideration for those addressing viability needs directly linked to Preservation. Funded applications will show the ability of the project to operate adequately without further infusion of OHCS funds for at least the next 10 years. Successful applicants also must agree to extend the period of affordability of the project based on the current requirements of the two possible funding sources: 30 years for the General Housing Account Program (GHAP) and 25 years for the Housing Development Grant Program (HDGP), aka Trust Fund.

The RFA makes available $2 million, with a maximum award per project of $400,000. Click here for full details on eligibility requirements and the application. The submission deadline is March 29.

— Posted on 1/27/2011

HUD Accepting Nominations for Outstanding Historic Preservation Work

Preservation professionals and their projects in Oregon have an opportunity to receive recognition for important efforts in historic preservation benefitting people with low incomes. HUD recently announced a submission period for the 2011 HUD Secretary’s Award for Excellence in Historic Preservation. The annual award, presented in partnership with the National Trust for Historic Preservation, recognizes exemplary work within the past three years. Specific projects, agencies, individuals, and organizations are all eligible for nomination. Use of HUD funding or historic preservation tax credits is not explicitly required.

Interested parties have until February 17 to nominate and submit. Click here for the nomination form, here for HUD’s application, and here for some background and info on previous recipients (congrats to Umpqua CDC for winning the award in 2005). The submission process is not extensive and the nomination fee is $30.

— Posted on 1/27/2011

OHCS Incorporates Changes in 2011 CFC

For the upcoming Consolidated Funding Cycle (CFC), developers must navigate a host of changes recently announced by OHCS, including increased fees. Sponsors must now solicit third-party construction inspections and submit reports to OHCS, for which the State Housing Council may approve an additional $2,200 fee to the applicant in order to cover the cost of departmental review. Green building activities that previously resulted in applicants earning points are now required for funding. To go along with the 30-year renovation standard introduced in the 2010 CFC, sponsors must now submit a 30-year replacement reserve schedule, with projections incorporated into the pro forma and budgets. Click here for a list of CFC changes and here for more details.

While applications are due April 15, applicants must schedule an evaluation team review with their Regional Advisor to the Department by February 4 and meet subsequent documentation deadlines thereafter. Though overall funds are down from the last CFC, OHCS remains committed to setting aside 50% for Preservation projects, in addition to $1.7 million in dedicated funds available in this CFC.

— Posted on 1/19/2011

OHCS Proposes 60-Year Affordability Requirement for Most Programs

OHCS recently released a proposal to adopt a new 60-year standard term of affordability for projects receiving grant and/or loan funds through future CFCs, RFPs, and all other application processes. Currently, terms of affordability for OHCS programs range from 10 to 30 years. The new 60-year standard would feature a buyout clause allowing the property owner to end the affordability period at 40 or 50 years, but the owner would be required to pay back the entire grant or loan amount, with interest, in such cases. If approved, the proposed changes would apply to projects receiving tax credits, grants or loans from OHCS, excluding those with only bond financing or 4% LIHTCs.

The proposal comes after a year-long look at policies adopted by other states and localities. OHCS will present the proposal at the State Housing Council meeting on January 21, with action and additional discussion to take place at a future date. Public comment is requested no later than January 31. Click here for the full proposal and further details on commenting.

— Posted on 1/13/2011

NOAH Closes Two New Preservation Loans

NOAH recently closed a $1.2 million OHAF loan for Hawthorn Apartments in Eugene. The building contains 35 one-bedroom units, all with project-based Section 8 rental assistance, and serves individuals and families making no more than 60% of AMI. As of December 31, 2010, OHAF loans totaling approximately $17.6 million funded 11 acquisitions throughout Oregon, helping to save 416 units at risk of leaving the affordable housing stock. Of those 11, four loans are still active.

Rogue Terrace Apartments in Rogue River recently received a Preservation term loan from NOAH in the amount of $622,872. This loan preserves 32 units, all with project-based Section 8 rental assistance, serving people with disabilities and seniors with low incomes in Jackson County. With the inclusion of Rogue Terrace, NOAH invested approximately $14.6 million in permanent loans for 11 Preservation projects, with 369 total units, during 2009 and 2010. Seven of those 11 were projects initially acquired with OHAF loans.

— Posted on 1/12/2011

HUD Accepting Applications for Rural Innovation Fund

HUD recently posted a funding notice for its new Rural Innovation Fund. The more than $25 million fund aims to help rural and tribal communities in need of resources to address distressed housing conditions and concentrated poverty. Single Purpose Grants of up to $300,000 are available for proposals that target a single economic or housing need, such as preservation, within the identified community. Comprehensive Grants of up to $2 million require proposed activities that address social, housing, and economic needs within the target community. Grants of up to $800,000 are available only to federally recognized tribes to support economic development and entrepreneurship. In all cases, HUD seeks innovative proposals that leverage other resources. Completed applications are due February 23, 2011. Click here for links to the NOFA and other application materials.

— Posted on 1/12/2011

Webinar to Explore Preservation Incentives in QAPs

Enterprise Community Partners and the National Housing Trust’s National Preservation Initiative will host a webinar on how qualified allocation plans (QAPs) can incentivize preservation, transit-oriented development, and green design and building practices. The initiative will share findings from its inventory of state QAPs, including how states actually allocated their tax credits in recent years. The webinar will be Thursday, January 20 at 11am Pacific (2pm Eastern). Click here to register.

— Posted on 1/10/2011