In an effort to increase the use of Tax-Exempt Bonds and private investment in affordable multifamily housing, as well as to stimulate the construction or rehabilitation of quality affordable rental housing, Kentucky Housing Corporation (KHC) has issued a draft Notice of Funding Availability (NOFA) for Gap financing to be utilized with Tax-Exempt Bonds. KHC is soliciting public comments on the draft NOFA.

The draft NOFA is for a combined $19 million, consisting of KHC's Equity Bridge Loan (EBL), HOME Investment Partnerships Program (HOME) Gap funding, and Affordable Housing Trust Fund (AHTF) Gap funding.

The full draft of the NOFA is located on KHC's website, under Development, Multifamily.

All comments must be submitted in writing and emailed to Andrew Hawes at ahawes@kyhousing.org, by tomorrow, Friday, June 5, 2015.

KHC is hosting an open forum to solicit feedback for the 2016 Qualified Allocation Plan (QAP). The forum will be held on Wednesday, July 15, 2015, from 1-4 p.m. ET, in the conference room of the Kentucky Higher Education Assistance Authority, 100 Airport Road, Frankfort, Kentucky. All multifamily developers, consultants, investors, or other interested parties are invited to attend.

If you have any questions, 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.

KHC is pleased to announce the creation of Kentucky Affordable Housing Coalition Inc., which is a collective body formed by the collaborative efforts of several external partners. The Kentucky Affordable Housing Coalition Inc. is open to anyone involved in creating opportunities for safe, decent, and affordable housing.

KHC will introduce the Coalition and host its inaugural meeting on Wednesday, June 24, 2015, from 1-4 p.m. ET, in the conference room of the Kentucky Higher Education Assistance Authority, 100 Airport Road, Frankfort, Kentucky. All interested parties are invited to attend. KHC staff will also be present to discuss corporate priorities in the development of the 2016 QAP.

Mission Statement:  Enable the creation and rehabilitation of safe, decent, and affordable housing through governmental legislation and public and private entity partnerships to benefit the Commonwealth of Kentucky.

What We Offer:  The Coalition offers a forum for addressing housing policy issues, information sharing, and networking opportunities to its members, which are comprised of developers, lenders, syndicators, and other related parties who participate in the creation and rehabilitation of safe, decent, and affordable housing.

The Coalition works to increase resources for affordable rental housing and monitors existing and pending legislation and public policy that affect the development and operation of affordable housing.

Some of the immediate goals are:

1. Support legislation which mandates the utilization of the income valuation approach for Low Income Housing Tax Credit (LIHTC) property valuation.
2. Support Kentucky state tax credit legislation (both historic and low-income housing).
3. Increase the resources available to support the expansion of affordable multifamily development in Kentucky.

Current Members:

• Dinsmore & Shohl LLP
• The Housing Partnership Inc.
• LDG Development        
• Marian Development Group
• Novogradac & Company
• Wabuck Development Company                       
• The Woda Group Inc.

The Coalition will offer additional membership opportunities during the inaugural meeting. If you have any questions, please contact Tammy Stansbury at 502-414-1259 or email tstansbury@wodagroup.com, or contact Lewis Diaz at 513-639-9264 or email  lewis.diaz@dinsmore.com.

• The value of the credit 
• Qualifying households 
• Unit and project requirements 
• On-going compliance requirements 
• Monitoring compliance 
• 8823-Report of non-compliance

For more information, please see the event flier. You may also contact OCCH's Lynn Logan at 614-224-8446 or email LLogan@OCCH.org.