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HOUSING DEVELOPMENT AND FINANCIAL ASSISTANCE FUNDING APPLICATIONFY 2021 AFFORDABLE HOUSING FUND (AHF), HOME & COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO) FUNDING PROPOSALS
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JANUARY 21, 2021
Greenville County Redevelopment Authority
301 University Ridge, Suite 2500, Greenville, SC 29601
Phone: 864-242-9801
Website: www.gcra-sc.org
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Good morning and Welcome!
ABOUT GCRA & FUNDS
The Greenville County Redevelopment Authority was established in 1974 and administers the Federal Entitlement funds (Community Development Block Grant (CDBG), HOME Investment Partnership (HOME), and Emergency Solutions Grant (ESG)) from the Department of Housing and Urban Development (HUD) on behalf of Greenville County Administration.
The Federal funds are used to address affordable housing, homelessness, economic development, and neighborhood revitalization serving specifically low and moderate communities. The funds are used in the City limits of Fountain Inn, Greer, Mauldin, Simpsonville, Travelers Rest and the Unincorporated Area of Greenville County.
Greenville County Affordable Housing Fund (AHF) – Local funding from the Greenville County Administration created to assist with the furtherance of making housing affordable in the County. 3
GCRA MISSION AND VISION
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Mission: Secure resources and educate stakeholders to meet the needs of Greenville County Citizens through affordable housing.
Vision: Advancing the futures of Greenville County.
Mantra: Building Better Future
PURPOSE OF HOME & AHF PROGRAMS
Increase the production, promote availability and accessibility of affordable rental and homeownership opportunities for very low, low, moderate, and middle-income residents.
Strengthen public-private partnerships in the production and operation of affordable housing by providing gap financing to projects serving very low, low, moderate and middle income residents.
Strengthen the local governments ability to design and implement strategies for achieving adequate supplies of affordable housing.
Ensuring that housing affordability is attainable Countywide.5
HOME & AHF ELIGIBLE APPLICANTS
Nonprofit organizations - Developers
For-profit organizations – Developers
Community Housing Development Organizations (CHDOs)
HOME Only
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ELIGIBLE AREAS/LOCATIONS
AHF: Greenville County
Including city boundaries of Greer and Fountain Inn
Excluding city limits of Greenville.
HOME: Greenville County
Including city boundaries of Greer and Fountain Inn
Excluding city limits of Greenville
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ELIGIBLE USES
1. Rehabilitation for affordable housing
2. Conversion of non-residential to residential
3. New construction of affordable housing
4. Assistance to first-time homebuyers
HOME: Units for rent or sale will have very low, low, or moderate income inhabitants
AHF: Units for rent or sale will have very low, low, moderate, or middle income inhabitants
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PRIORITIES
HOME Priorities
New rental and homeownership units in
the County’s Special Emphasis Areas
Increase homeownership opportunities for families at or below 80% AMI
Rental units offered at or below 50% AMI for small/large families, seniors, and disabled persons
AHF Priorities
Rental units available for very low (30%AMI & below) and low (50% AMI and below) for small/large families, seniors, and persons living with disabilities.
Homeownership opportunities for families at 50% -80% AMI
Affordable Homeownership and Rental Units for Middle income families 81% - 120% of AMI.
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HUD INCOME LIMITS
GREENVILLE COUNTY - FY 2020# of Persons in Family
1 2 3 4 5 6 7 8Extremely Low 30% Income Limits ($) $15,750 18,000 20,250 22,450 24,250 26,050 27,850 29,650Very Low 50% Income Limits ($) $26,250 30,000 33,750 37,450 40,450 43,450 46,450 49,450Low 80% Income Limits ($) $41,950 47,950 53,950 59,900 64,700 69,500 74,300 79,100
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HUD INCOME LIMITS
LAURENS COUNTY - FY 2020# of Persons in Family
1 2 3 4 5 6 7 8Extremely Low 30% Income Limits ($) $11,100 12,700 14,300 15,850 17,150 18,400 19,700 20,950Very Low 50% Income Limits ($) $18,500 21,150 12,800 26,400 28,550 30,650 32,750 34,850Low 80% Income Limits ($) $29,600 33,800 38,050 42,250 45,650 49,050 52,400 55,800
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HUD INCOME LIMITS
SPARTANBURG COUNTY - FY 2020# of Persons in Family
1 2 3 4 5 6 7 8Extremely Low 30% Income Limits ($) $13,600 15,550 17,500 19,400 21,000 22,550 24,100 25,650Very Low 50% Income Limits ($) $22,650 25,900 29,150 32,350 34,950 37,550 40,150 42,750Low 80% Income Limits ($) $36,250 41,400 46,600 51,750 55,900 60,050 64,200 68,350
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INCOME TARGETINGPROJECTS TARGETING LOW INCOME FAMILIES WILL RECEIVE ADDITIONAL POINTS
Target population Income Target Income range
Very low Income
Less than or equal 30% of Area median Income
• From or = $15,750 ( Adjusted to household size )
Low Income
50 percent of Area median Income or below
• $26,250 (Adjusted to household size)
Median Income
80 percent of Area Median Income or below
• $41,950 (Adjusted to household size)
Middle Income [AHF]
81 – 120 percent of the Area median Income
• $42,000 - $87,500 (Adjusted to household size )
Greenville County Median Income : $74,900Source- HUD Data 2020
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ELIGIBLE BENEFICIARIES
RENTAL: The eligibility of households for HOME assistance varies with the nature of the funded activity. For rental housing and rental assistance, at least 90 percent of benefiting families must have incomes that are no more than 60 percent of the HUD-adjusted median family income for the area. In rental projects with five or more assisted units, at least 20% of the units must be occupied by families with incomes that do not exceed 50% of the HUD-adjusted median. The incomes of households receiving HUD assistance must not exceed 80 percent of the area median.
HOMEOWNERSHIP: All HOME funds used for homeownership assistance must benefit homeowners whose family income does not exceed 80 percent of the area median income.
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Special Emphasis Neighborhood• Brutontown• New Washington Heights• Poe Mill• Sans Souci• Woodside Cotton Mill• Judson• Sterling• Brandon• Mills Mill• Duncan• Monaghan Mill• Freetown• Needmore and Sunnyside – City of Greer• Sanctified Hills – City of Fountain Inn• Woodside Mill - City of Fountain Inn• Woodside Mill – City of Simpsonville
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AHF & HOME ELIGIBLE PROJECT COSTS
Site acquisition *
Pre-development cost *
Hard costs for construction and rehabilitation activities
Site improvements *
Infrastructure specific to *development of site.
*Note: Directly associated with specific housing development project.
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BB1
Slide 16
BB1 Insert Picture of Project in Process
Briney Bischof, 1/20/2020
HOME Program Set Aside & Allocations
Fiscal Year HOME Allocation
2020 $1,193,967
2019 $1,114,857
2018 $ 1,225,415
2017 $ 857,653
2016 $ 860,835
2015 $ 808,941
HUD requires a 15 percent set aside for CHDOs
10% - set aside for Planning and Administration
The County earmarks approximately:
45 percent of remaining HOME funds for Housing Partners & GCRA projects.
30 percent of HOME funds for projects in the five participating municipalities
Additional funding may be available for projects subject to the availability of Program Income.
FUNDING AVAILABILITY
Last 6 Years HOME Grant Allocations
GCAHF 2020 Funding: $1 Million DollarsNote: 80-90% of funding is available for development projects
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HOME & AHF FORMS OF FUNDING ASSISTANCE
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Applicant Type Available Financing Option s
Type • Gap funding of housing development project • No Maximum or Cap allocation ****• Affordability period consistent with HOME regulations.
Grant: • 10 percent of total funding request. Not to exceed $100,000
CHDO [HOME] • Grant funding subject to affordability requirements• Certification documentation required with application.
Nonprofits & Public Agencies
• Rental Units: 1% interest loan amortized for a period of up to 30 years. 1-year payment deferment period during construction.
• Homeownership: 1% Interest rate
For Profit Organizations:• Rental Units: 2% interest loan amortized for a period of up to 30 years. 1-
year payment deferment period during construction• Homeownership: 2% Interest Rate
HOME AFFORDABILITY PERIOD
HOME & GCAHF AFFORDABILITY
PERIOD
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Rental Housing Activity Minimum Period of Affordability in Years
Less than$15,000 per unit 5 years $15K-$40K per unit 10 years Greater than $40K per unit 15 years New Construction 20 years
Homeownership Activity Minimum Period of Affordability in Years
Less than$15,000 per unit 5 years $15K-$40K per unit 10 years Greater than $40K per unit 15 years New Construction 20 years
*Minimum Investment: $1,000 per unit
APPLICATION REVIEW
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APPLICATION SELECTION CRITERIA OVERVIEW
Eligibility & Completeness
Site Control
Developer Experience
Developer Capacity
Plan Consistency & Market Demand
Cost Reasonableness
Project Feasibility & Profit Reasonableness
Readiness to Proceed 21
APPLICATION SCORINGCriteria Maximum Points (100)
Completeness, Program Eligibility and Site Control 20 points
Consistent with County Goals and Address Demonstrated Need
20 points
Financial Feasibility (Including Leveraging and Per Unit Subsidy) 1-2 units (No more than 40% of TDC)
25 points
Developer Experience, Capacity, and Project Readiness 25 points
AHF: Income Targeting Consistency with Priorities (30-50 percent AMI) HOME: Neighborhood Impact
10 points
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Development Description (construction type, #buildings, #units, gross rents, & population served)
Site Location Description (include area map and site photos).
Market Area Description (include map showing nearest full-service grocery, pharmacy, school, and comparable developments)
Market Area Economy (workforce numbers and anticipated incomes as relevant to the development's targeted income group)
Summary Comparable Developments (Describe existing affordable housing developments by type, driving distance from the subject development, population served, #units by bedroom size, gross rent by unit size, service and on-site amenities, occupancy rate)
MARKET STUDY
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Market strengths/weaknesses (compatibility with surrounding uses; the appropriateness of location; service facilities; on-site amenities; off-site amenities and their driving distance from the development etc.)
Positive and negative attributes and issues that will affect the property's performance and any proposed mitigation or modification to project.
Market justification for the proposed development, including the proposed rents by unit and population type.
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MARKET STUDY: KEY TAKEAWAYS
LEVERAGING AND PER UNIT GAP FUND REQUEST
Need for Gap fund request for GCAHF/HOME.
Identification of other committed funds from other sources.
Analysis of the Per Unit of GCAHF/HOME in comparison to other funding sources identified.
NOTE: Projects using fewer GCAFH/HOME subsidy dollars per unit will receive more points than projects using more GCAHF/HOME subsidy dollars.
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DEVELOPER EXPERIENCE & CAPACITY
List and describe projects completed by the organization similar to proposed project
List and describe experience of all development team members including consultants (if applicable)
Most recent financial statements should show enough liquidity to initiate and complete project.
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COST/PROFIT REASONABLENESS & FINANCIAL FEASIBILITY
Cost comparable to similar projects in the same geographic area.
Reasonable rents within affordability guidelines
Adequate funding and project’s ability to pay debt service over the affordability period.
Minimum DCR of 1.15 (Rental units) Funding Leverage Developer fee less than 15% of TDC
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COST/PROFIT REASONALENESS & FINANCIAL FEASIBILITY
Comparable procurements Bidding Commitment to what entity Firmness of commitment and terms &
conditions Timing of disbursement Strength of funding participants or other
sources
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READINESS TO PROCEED
Timelines must be realistic and achievable Describe dates:
Funding commitments Closing dates Construction start-up and completion Occupancy
All projects must start within 12 months of award notice.
Homebuyer units must be sold within 9 months of construction completion
Rental units must be occupied within 24 months completion.
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SUBMISSION REQUIREMENTS
The deadline for all responses to the proposal is Wednesday, February 17, 2021 at 4:30pm. p.m. EST and should be mailed or submitted to the GCRA office located at:
Greenville County Redevelopment AuthorityAttention: Ms. Imma Nwobodu
Program Director301 University Ridge, Suite 2500
Greenville, SC 29601
Electronic copy will be submitted via OneDrive. Email Jose Reynoso at [email protected] to receive an upload link.
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SELECTION PROCESS AND TIMEFRAME
NOFA published
28 Dec. 2020
Training – Thursday January 21, 2021 @ 10:00 am
Wed. 21, Jan. 2021
Electronic Submission link request deadline
17 Feb. 2021, 5:00 PM
Submission date: February 17, 2021 @ 4:30 pm
17 Feb. 2021
GCRA Committee and Board approval -March 9th & 23rd, 2020
9 Mar. and 23 Mar.
Greenville County Council - Finance & Committee of the whole approval [GCAHF]- TBD
April/May 2021
Award letters issued outlining terms and conditions. LITHC projects- award letter in March
Apr. 2021
Submission to HUD – May 15, 2021Funding Available July 1, 2020
1 July 2021
Execute Development Agreement contingent upon receipt of applicant’s documents*
July–30 Nov.
*Applicants Documents Commitment of other funding sources Updated development budget Project completion schedule Site control completed
Legal Description of proposed properties including BB#s
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ENVIRONMENTALCOMPLETED INHOUSE
Understanding the ER requirement and process is necessary for planning and executing your projects in a timely manner.
An environmental review must be completed before any projects are initiated in order to be eligible for funding reimbursements.
The nature and size of your project will determine the level of environmental review required.
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ENVIRONMENTAL: LAWS AND AUTHORITIES
Historic Preservation
**
Floodplain & Wetlands ** Noise Hazardous &
Toxic SitesEndangered
Species
Air Important Farmlands
HUD Env. Standards
Environmental Justice
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ENVIRONMENTAL
Levels of Review General Time Line Exempts 1 week CE Not Subject to 24 CFR 58.5 1 - 4 weeks CE Subject to 24 CFR 58.6 3 months or less EA 3 - 5 months or more EIS 5 months or more
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ENVIRONMENTAL: RECOMMENDATIONS
Prioritize projects by the date or general time frame the projects needs to be started.
Submit your priority list via email to [email protected] or [email protected] adequate time for the level of review triggered by the project activities. Be sure to include the desired project start date.
Plan smart by allowing 1-2 months for delays as ER findings may trigger a more extensive level of environmental review.
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Understanding HOME Compliance Delivering Performance
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ADDITIONAL REQUIREMENTS
PROCUREMENT-CONTRACTOR
SERVICES
FUNDING DRAW-DOWN REQUESTS
REPORTING REQUIREMENTS
PROJECT COMPLETION & MONITORING
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CONTACTS
John Castile, Executive Director Brian Conner, [email protected] Ass. Community Development Planner
Imma Nwobodu, Program Director Jose Reynoso, Outreach Specialist [email protected] [email protected]
Ben Abdo, Kathy BossongAssociate Community Development Planner Senior Finance [email protected] [email protected]
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