Preservation Strategies for Y15 Properties

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Presentation transcript:

Preservation Strategies for Y15 Properties NCSHA Housing Credit Connect 2017 Laura Abernathy National Housing Trust

National Housing Trust The National Housing Trust protects and improves existing affordable rental homes so that low income individuals and families can live in quality neighborhoods with access to opportunities. NHT engages in public policy development and advocacy that is informed by practice and experience through on the ground real estate development, lending, and multifamily ownership.

Affordability by State Housing Finance Agency Years of Affordability Requirement Incentive (points) Alabama 20* x Alaska 30 Arizona Arkansas 35 California 55** Colorado 40 Connecticut DC 50 Delaware 60 Florida Georgia Hawaii 61 Idaho Illinois x Indiana Iowa Kansas Kentucky Louisiana Maine 45 Maryland Massachusetts 50+ Michigan Minnesota Mississippi Missouri x*** Housing Finance Agency Years of Affordability Requirement Incentive (points) Montana 46 x Nebraska 45 Nevada 50 N.H. 99 New Jersey New Mexico New York N. Carolina 30 North Dakota Ohio Oklahoma Oregon 60 Pennsylvania 35 Rhode Island S. Carolina South Dakota 40 Tennessee Texas Utah Vermont Perpetuity Virginia Washington 37 West Virginia Wisconsin Wyoming 55 *applicants are required to waive their right to a Qualified Contract for 5 years, meaning that properties remain affordable for a minimum of 20 years. **properties located on tribal land are required to maintain affordability for 50 years. ***Missouri’s 2016 QAP does not include a competitive scoring system, but does give preference to projects agreeing to waive their right to a Qualified Contract.

Expiration Scenarios for Existing Housing in Florida Source: Florida Housing Finance Corporation and Shimberg Center for Housing Studies, Assisted Housing Inventory

Expiration Scenarios for New Housing in Florida Source: Florida Housing Finance Corporation

For more information… Laura Abernathy National Housing Trust State & Local Policy Director labernathy@nhtinc.org 202-333-8931, ext. 137 Follow us on Twitter! @NatlHsingTrust Search state and local preservation policies at PrezCat.org