JOINT AGENCY NOTICE OF FUNDING AVAILABILITY
The Puerto Rico Department of Housing (Department) and the Puerto Rico Housing Finance Authority (Authority), announce a Joint Agency Notice of Funding Availability (Joint Agency NOFA) for assistance under these programs: Low-Income Housing Tax Credit (LIHTC), Home Investment Partnership (HOME) for Construction and Rehabilitation of Rental Housing, Housing Choice Voucher (Project Based – PBV), and the Authority’s financing options for new construction or substantial rehabilitation of rental housing. Joint Agency NOFA seeks to leverage diverse funds, with criteria that will result in allocating multiple financing sources to projects that meet the State Housing Plan priorities.
The Authority has $14,215,353 estimated annual 2016 and 2017 LIHTCs available for allocation (based on 2015 figures), of which $1,421,535 will be for the Nonprofit Set-Aside, $5 million for the Public Housing Set-Aside and $7,793,818 for other projects. HOME has $17,541,705 available from FY 2014-2015 budget, including $2,625,471 for the Community Housing Development Organizations (CHDOs) set-aside. It is the purpose of the PRDH to promote and increase the available housing inventory encouraging property owners to construct standard or upgrade substandard rental housing stock, and make it available to extremely and very low income families at rents within the Housing Choice Voucher Program existing housing Fair Market Rents. The PRDH estimates that up to six hundred and thirty (630) units can be assisted with Housing Choice Voucher Program (Project Based Vouchers). The 25% per building cap will be enforced, except as provided in 24 CFR 983.56(b). Under the Project Based Vouchers, projects cannot begin until an agreement (AHAP) is executed; all units must meet the Housing Quality Standards (HQS) both at commencement and throughout the existed tenancy; and families to be assisted will be selected from the Department’s Housing Choice Voucher Program Waiting List.
The Joint Agency NOFA is released pursuant to the State Housing Plan 2014-2018, the Authority’s 2015 Qualified Allocation Plan (QAP), the Commonwealth’s FY 2015 Consolidated Plan and FY 2015 HOME Action Plan, the Department’s Housing Choice Voucher Administrative Plan, and the Request for Proposal for PBV. It is consistent with the funding priorities therein established. CHDOs, developers and investors are invited to participate and provide direly needed rental housing to low-income families in Puerto Rico.
Documents required to apply:
01. Notice Joint Agency NOFA 2015: Ad PR Desarrolla-PR DH-PRHFA
Annex Q – Maps
|Annex AA_HCVP Administrative Plan_7.6.2015||Annex BB_PHA Five Year Plan_2015-2020||Annex CC_State Housing Plan – SHP Final- Dic 2014|
|Annex DD “AVP-Demolished Projects”||Annex EE- HOME Units Calculation||Annex FF-CPD-15-03 Maximum Per Unit Subsidy|
Any applicant interested in furthering a proposal will register and request an application number from the Authority at 606 Barbosa Ave., Juan C. Cordero Building, Río Piedras, 3rd floor reception desk, working days, from 8:15am until 4:15pm. The written request will include the names of the applicant and the project. If LIHTCs and/or HOME funds are requested (not required for PBV-only applications), payment of $100 (only manager’s checks and money orders) is due at registry. Registration is required in order to submit an application under Joint Agency NOFA.
Proposals will only be accepted in digital media (CD or DVD format) and the format specified in the Application Package, no exceptions, through October 9, 2015, by 4:00pm. Completed proposals must be delivered at the Authority’s reception desk, on or prior submission deadline, at the abovementioned address. No applications will be accepted after the submission deadline.