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Affordable housing preservation summit

February 25, 2011 | Wells Fargo Conference Center, Phoenix, AZ. Affordable housing preservation summit. Ruby Dhillon, Rental Programs Administrator. Ruby.dhillon@azhousing.gov (602) 771-1031. Overview of LIHTC Program 2011 Qualified Allocation Plan (“QAP”)

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Affordable housing preservation summit

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  1. February 25, 2011 | Wells Fargo Conference Center, Phoenix, AZ Affordable housing preservation summit

  2. Ruby Dhillon, Rental Programs Administrator Ruby.dhillon@azhousing.gov(602) 771-1031

  3. Overview of LIHTC Program 2011 Qualified Allocation Plan (“QAP”) Availability of NSP3 Funds – Rental Focus Objectives

  4. A housing subsidy program for rental housing Created within Section 42 of the Internal Revenue Code Administered by each State’s housing finance agency – pursuant to QAP – www.azhousing.gov Deadline: March 1, 2011, 4:00 pm LIHTC PROGRAM

  5. 2011 QAP EMPHASIS After assessing the effects of foreclosure on the State, this years QAP places an emphasis on Acquisition/Rehab. In the 2011 QAP, there are three (3) scoring areas focusing on Housing Preservation: • ACQ/REHAB • ACQ/DEMO – New Construction • ACQ/DEMO – Defunct Property

  6. Transit Oriented Design (“TOD”) is a new and fast growing trend in creating vibrant, livable communities. It is the creation of compact, walkable communities centered around high quality transit systems. In the 2011 QAP, there are two (2) scoring areas focusing on TOD: • Quality Bus Transit • High Capacity 2011 QAP Emphasis

  7. 2011 EmphasisSUSTAINABLE DEVELOPMENT

  8. Risk Scores were developed by HUD to assist grantees in targeting the areas of greatest need within their jurisdictions. The State was given a Risk Score of 17. ADOH received a Direct Grant of $5,000,000.00 NSP3 Substantial Amendment to Action Plan will be submitted to HUD on March 1, 2011. ADOH anticipates investing approximately $3,500,000.00 of its NSP3 Allocation in the redevelopment of foreclosed, vacant or blighted multifamily properties. ADOH anticipates investing approximately $1,000,000.00 of its NSP3 Allocation in the redevelopment of foreclosed, vacant or blighted single family properties to be targeted for individuals and/or families. Funds may be allocated as gap financing to supplement an award of Low Income Housing Tax Credits, meeting all NSP3 eligibility requirements. Neighborhood stabilization program - nsp3

  9. QUESTIONS Ruby DhillonRental Programs AdministratorRuby.Dhillon@azhousing.gov

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