In This Issue
Gap Program Application Guidelines
FY2015 HOME Homeownership Value Limits
Your Opinion Counts!
Kentucky's State Historic Preservation Plan
Multifamily Bonus Sessions
Press Play!
Quick Links
Time Is Running Out, Register Today!
The 2015 Kentucky Affordable Housing Conference will take place Wednesday and Thursday, April 8 and 9, at the Hyatt Regency and Lexington Convention Center. Register today!

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Gap Program Application Guidelines  

Kentucky Housing Corporation (KHC) has released the 2015 single-family application guidelines for the Gap Program.

 

The application guidelines for the Gap Program are available on KHC's Website under Development, Single-Family.

 

KHC will begin accepting Gap Program applications within the Universal Funding Application (UFA) on Monday, March 30, 2015. Applicants must meet minimum threshold to submit an application. Applications will be accepted and reviewed on a first come, first serve basis.  

 

Eligibility and Minimum Threshold

The Gap Program is available to nonprofits and units of local government that are eligible to receive funds from the Affordable Housing Trust Fund [KRS.198A.175(3)].

 

To be eligible to apply for the Gap Program, previous applicants must have had an executed Gap Funding Agreement between 2011 to 2014.

 

Ineligible Applicants

Applicants who were awarded funds in the January 2015 HOME/AHTF Abbreviated Funding Application (HB15/HR15 projects) are not eligible to apply for the Gap Program.

 

Maximum Funding Requests

Applicants that have been awarded KHC Gap Program funding in the past 4 years are limited to the maximum amount $100,000 of Gap funds, inclusive of administrative fees.

 

If you have any questions, please contact Melissa Benton, Terry Helton, or Antwoine Linton toll-free in Kentucky at 800-633-8896 or 502-564-7630, extensions 421, 273, or 416, respectively; TTY 711; or email mbenton@kyhousing.org, thelton@kyhousing.org , or alinton@kyhousing.org, respectively.

FY2015 HOME Homeownership Value Limits 

The U.S. Department of Housing and Urban Development (HUD) new HOME Homeownership Value Limits (95% limits) for 2015 will be effective Monday, April 13, 2015. In 24 CFR 92.254(a)(2)(iii) of the Final Rule published on July 24, 2013, and effective August 23, 2013, HUD established new homeownership value limits for HOME Participating Jurisdictions.

Your Opinion Counts!  

KHC is asking partners for feedback to streamline processes and improve administration of federal housing programs. Please take a short survey so we may address your needs and concerns. The survey is available until 5 p.m., Tuesday, March 31. 

The survey is anonymous, so please use this opportunity to give KHC candid feedback. Your feedback is important to help us identify process and/or policy changes we may need to consider.

Kentucky's State Historic Preservation Plan   


Help develop Kentucky's State Historic Preservation Plan by taking  this short survey!

Multifamily Bonus Sessions 

During the 2015 Kentucky Affordable Housing Conference, KHC will host two open forum bonus sessions for Kentucky affordable multifamily housing developers. 

 

The first session will be Wednesday, April 8, from 7-8:15 a.m. ET, prior to the conference opening plenary session. Colleen Fisher, executive director of the National Council for Affordable and Rural Housing, will lead a discussion to form a Kentucky Affordable Housing Developers Association outlining the benefits of a collective voice advocating for affordable housing needs in Kentucky. 

 

The second session will take place on Thursday, April 9, from  3:15-4:30 p.m. ET, immediately following the conference. Sujyot Patel and Lewis Diaz, with Dinsmore & Shohl LLP, will provide training on Tax Exempt Bond (TEB) financing strategies. Attendees will gain valuable insight in structuring viable TEB projects. KHC previously promoted the use of TEB over the years and recently began allocating gap funding to support the use of TEBs to address the increasing need for the preservation of existing affordable housing.

 

The forums will be held in the Jessamine/Franklin meeting room in the Hyatt Regency hotel adjoining the Lexington Convention Center. All multifamily developers, consultants, investors, or other interested parties are invited to attend.

 

To register fro these bonus sessions, please contact Andrew Hawes toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 326; TTY 711; or email ahawes@kyhousing.org.

Press Play!

Do you know all the benefits to the 2015 Kentucky Affordable Housing Conference? Learn about speakers, networking, and more, in the promotional video available on KHC's YouTube Channel. And don't forget to register today! 

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Kentucky Housing Corporation prohibits discrimination on the basis of race; color; religion; sex; national origin; sexual orientation or gender identity; ancestry; age; disability; or marital, familial, or veteran status. 

 

To change your eGram preferences or sign up for an eGram list, please visit KHC's website and click on the eGram icon under Quick Links. 

 

If you have subscription problems, please contact KHC's Nicole Morris toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 459; TTY 711; or email nmorris@kyhousing.org.