Scoring Criteria 6
Community Stability
Projects are eligible for points in this category if:
The project meets at least one of the following criteria:
Rental Projects
- Preservation of Federally Assisted Housing
- Adaptive Reuse
- Rehabilitation or demolition of an existing vacant building
- Acquisition and Rehabilitation of Naturally Occurring Affordable Housing
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Homeownership Projects
- Adaptive Reuse
- Rehabilitation or demolition of an existing vacant building
- Rehabilitation of Owner-Occupied Housing
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Preservation of Federally assisted rental housing
Currently receiving one of the following:
- HUD Section 8 project based rental assistance
- Public Housing Authority/PHA owned units
- HUD 202 or 811 projects • USDA RD 514, 515, or 516 projects
- Existing Federal Low Income Housing Tax Credit (LIHTC) units
- Includes PHA units being sold to a non-profit and financed with LIHTC
Adaptive Reuse:
Conversion of a building from a non-housing use to a housing use. For example, a warehouse converted to apartments or condominiums, a hotel converted to apartment units other than overnight shelter units, school houses converted to apartments, or convents and monasteries converted to a housing use for the general public. 100% of the units must be adaptive reuse to qualify.
Rehabilitation or demolition of an existing vacant building:
100 percent of the units are the rehabilitation of or demolition and new construction on the same site of a vacant or abandoned building
- Does not apply to bare land
- Must be chronically vacant and uninhabitable, OR
- Building is a public nuisance or contributes to blight on the area, OR
- Violates housing code making it a danger to the public
Acquisition and Rehabilitation of Naturally Occurring Affordable Housing
- 100 percent of units are not income restricted
- Minimum $5,000 per unit in rehabilitation costs
- Acquisition must be arms-length transaction
- Acquisition must have occurred within three years of AHP application
Rehabilitation of Owner-Occupied Housing
- Owner occupied rehabilitation of hard costs at $15,000 or more per unit
- To demonstrate eligibility, the rehabilitation budget should exceed $15,000 by including a 10% contingency or minimum of $16,500 rehabilitation cost per unit
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Rental Projects |
Homeownership Projects |
Preservation of Federally Assisted Housing |
10 points |
Not applicable |
Adaptive reuse |
5 points |
5 points |
Rehabilitation or demolition of an existing vacant building |
5 points |
5 points |
Acquisition and rehabilitation of naturally occurring affordable housing |
5 points |
Not applicable |
Rehabilitation of owner-occupied housing |
Not applicable |
12 points |
Required documentation
- Adaptive Reuse: Provide narrative on how project meets this requirement and documentation that evidences the current non-housing use of the property.
- Vacant or Abandoned: Providing narrative on how project meets this requirement and documentation that evidences the properties meet the Bank’s definition . This might include an affirmative market study, appraisal or capital needs assessment, or documentation of municipal action against property to cure public nuisance or blight. For homeownership projects - the commitment for vacant/abandoned through rehabilitation of foreclosed property or property acquired via tax sale, the evidence must include documentation of foreclosure or tax sale.
- Preservation of Federally Assisted Housing: i.e. HAP contract, USDA 515 mortgage, LURA, etc.
- Acquisition and Rehabilitation of Naturally Occurring Affordable Housing: i.e. title opinion