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KHC Holiday Schedule
In observance of Memorial Day, Kentucky Housing Corporation (KHC) offices will be closed on Monday, May 30. We will reopen on Tuesday, May 31, at 8 a.m. We wish everyone a safe and happy holiday weekend!
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Draft 2017 QAP Feedback Forum
At the end of May, KHC will release the draft QAP for fiscal years 2017-2018 Low Income Housing Tax Credits. To solicit feedback, KHC invites partners to register for the upcoming forum:
Draft 2017 QAP Feedback Forum Thursday, June 2, 2016 Kentucky Higher Education Assistance Authority 1-4 p.m. ET
Registration is required, as space is limited. To register, please email rentalqap@kyhousing.org and indicate the name and organization for each person attending.
If you have any questions, please contact Jeremy Ratliff toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 707; TTY 711; or email jratliff@kyhousing.org.
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Updated Section 3 Requirements
Subrecipients of federal funds for projects involving construction activities in excess of $200,000 are required to comply with federal Section 3 requirements, including providing reports of activities. KHC has recently updated its guidance on Section 3. The updated Section 3 Requirements, as well as the Section 3 Summary Report Form HUD 60002, are located on KHC's website, under Development, Multifamily, Construction Completion/Placed-In-Service. If you have any questions about Section 3 requirements, please contact Bernadette Hillman toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 375; TTY 711; or email bhillman@kyhousing.org. |
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2016 HOME Rent Approvals Due
Multifamily HOME funded projects still in their affordability period are required to submit an Annual Rent Approval Form. The 2013 HOME Final Rule is an amendment to 24CFR 92.252(f)(2), which requires that a Participating Jurisdiction (PJ) review and approve rents for each HOME-assisted project annually to ensure that the project complies with the HOME rent limits, and to prevent undue increases that would result in a hardship for the residents. For 2016, all HOME funded multifamily projects still in their affordability period are required to submit an Annual Rent Approval Form by Friday, July 8, 2016.
The HUD published HOME Rent Limits have an effective release date of June 6, 2016, which is available on HUD's website.
Failure to submit the form by 5 p.m. on Friday, July 8, 2016, could result in a finding and/or being placed on KHC's Suspension and Debarment List. For questions or help completing the form, please contact Carlisha McKissic-Roberts at 859-595-5828 or Lisa Russelburg at 270-860-1588.
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2017 QAP Roundtables Summary
To solicit early input on the FY2017-2018 Qualified Allocation Plan (QAP), KHC held three roundtables in February and March 2016 with developers, syndicators, lenders, and management companies. A summary of the comments received at these roundtables is available on KHC's website, under Development; Multifamily; Applications, Guidelines, and Scoring.
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HOME Rent and Income Limits Now Available
The U.S. Department of Housing and Urban Development (HUD) has published the 2016 HOME rent and income limits. The new limits are available on HUD's website and are effective Monday, June 6, 2016.
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