Start Solid, Finish Smart: Upfront Financing Options and Year 15 Issues

This presentation, provided by CohnReznick, is on affordable housing development, crucial year 15 stress reduction, advice and insights along with LIHTC Options and Alternatives.

How to Sail Through an Audit 
Compliance and audits are a fact of life when working in the area of affordable housing.  This presentation covers best practices to ensure you sail through your next audit and complete all your compliance requirements.

HOME Investment Partnership Program
The HOME Investment Partnership Program (HOME) was created by the National Affordable Housing Act of 1990 and HOME funds provide competitive funding to local government, non-profit, and private developers. The purpose of the HOME Program is to provide a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or ownership or provide direct rental assistance to low-income people. 

HOME Eligible Activities:

  • Home buyer assistance (generally through Down Payment Assistance (DPA) programs)
  • Rehabilitation for Owner-Occupied Homes (Single-family Owner-occupied (SFOO) programs)
  • Rental Housing Acquisition, Rehabilitation and Construction
  • Tenant-Based Rental Assistance (TBRA)

The Community Development Block Grant
The Community Development Block Grant (CDBG) program was passed by Congress as Title I of the Housing and Community Development Act of 1974 to help cities address their community development needs. In 1981, Congress amended the legislation to allow states to administer CDBG funds to serve communities outside large cities and urban counties. The law requires that seventy percent of all CDBG funds be spent on activities that benefit low- or moderate-income people. The Division of Housing uses a portion of the state's CDBG funding to provide or improve permanent residential structures that will house low and moderate income households outside of larger cities and counties, which are known as "entitlement areas." Entitlement communities receive block grant funding directly from HUD.

CDBG Eligible Activities (Housing):

  • Property acquisition
  • Rehabilitation of property for permanent housing, including rental housing and single-family owner-occupied housing.
  • Down Payment Assistance programs (DPA)
  • Conversion of non-residential structures into permanent housing
  • New housing construction by a community-based development organization
  • Public services such as services for the homeless, or removal of architectural barriers for the elderly or severely disabled, or home ownership assistance.

CRA Manual

The Community Reinvestment Act (CRA) prohibits discrimination against working class and minority neighborhoods.  It also requires banks to serve these communities by assessing community needs, conducting outreach campaigns, and consulting with community stakeholders in developing financing options for affordable housing.

Click here to download the CRA Manual from the National Community Reinvestment Coalition.

NOW! Presentations

This NOW! Track was sponsored by Holland & Hart LLC

Action Campaign

The Action Campaign is a coalition of organizations working together to ensure that the LIHTC and other housing programs are retained by the government.

Be sure to check out the Colorado Fact Sheet while visiting the website. 

Helpful Links:
Database of State Incentives for Renewables & Efficiency
Condo Approval Checklist
FHA Condo Approval Fact Sheet

Contributors: Funding Partners

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