Low-Income Housing Tax Credit & Supportive Housing in Alaska, 2014

Alaska’s 2014 Greater Opportunities for Affordable Living (GOAL) Program’s Rating and Award Criteria Plan includes threshold requirements and potential competitive scoring advantages for supportive housing. 

The Alaska Housing Finance Corporation (AHFC) publishes their Qualified Allocation Plan (QAP) as part of the Greater Opportunities for Affordable Living (GOAL) Program’s Rating and Award Criteria Plan. The GOAL program includes Low-Income Housing Tax Credits, HOME Investment Partnerships Program (HOME), and Senior Citizens Housing Development Fund (SCHDF).

The State of Alaska priorities include projects that target “special needs populations” (i.e. persons who experience mental of physical disabilities, homeless persons, and families whose income does not exceed 30% of the area median income, adjusted for family size).

For all projects with 20 or more units, 5% of total units (fractional units round down) must be set aside for a “special needs” population that is not required to be served as a condition of the funding source requested. Special needs populations for this section are defined as: households with persons with mental or physical disabilities, the homeless and persons earning less than 30% of the median income for their area.

Alaska's QAP also awards up to 5 points for provision of units equipped for persons with physical disabilities. Points are based on the number of units equipped in excess of the minimum threshold requirement for GOAL program funding and that exceed the minimum number required by federal Fair Housing law, state or local law, or specific program requirements.

3 points are awarded for service-enriched housing, which incorporates substantive social services, which are appropriate to the tenant population, on an ongoing basis. Points are only available if households with physical and/or mental disabilities or homeless persons will be served by the proposed project.

8 points are awarded to projects which serve special needs projects committing additional units (up to 50% of the project) to special needs populations above those commitments already required by their funding sources and the GOAL program.

1 points are awarded to projects giving a preference to homeless families or individuals in the tenant selection process.

2 points are awarded to projects that contain a written commitment to giving a preference in the tenant selection criteria to households containing a veteran.

Projects that have extremely low-income tenant targeting are also eligible for a Discretionary Basis Boost. The projects must not receive project-based operating subsidy, and must meet the following conditions:

  • The annually projected per-unit operating expenses of the project equal or exceed 90% of rents allowed for households at or below 30% of the area median income, and
  • At least 30% of the residential units in the property will be reserved for households at 30% or below the area median income, and
  • The increased equity from the basis boost will be set-aside in a controlled reserve account to be used to cover the gap during the compliance and extended use period between the lesser of (1) the 30% rent limit and the 60% rent limit, or (2) the 30% rent limit and the Fair Market Rent (as determined by HUD), and
  • The controlled reserve account will be jointly controlled by the project owner and AHFC.

 

Contributed By: 
CSH

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