1. National Housing Trust Fund (NHTF) Public Hearing August 4, 2016
Wyoming Community Development Authority

2. Program Funding & Objectives
Resources have been allocated to the State of Wyoming which allow WCDA to provide funding for:
Increasing and preserving the supply of rental housing for extremely low income (ELI) households with incomes between 0 and 30% of area median income, including homeless families.

3. Public Comments
Public Hearing held on June 9, 2016 to outline the NHTF and open a 30 day comment period.
Comments/Questions received include the following:
Do not allow NHTF proceeds to be used for homeownership because tax, insurance, and maintenance costs could cause undue burdens to low income homeowners.
Would rental increases differ from other WCDA programs?
Would increased rental income levels over the 30% qualification mark be handled differently than other WCDA programs?
Would NHTF be administered by WCDA similar to the HOME program?

4. Public Comments Comments/Questions continued
Can tax credit, HOME and NHTF proceeds be piggybacked together?
A concern was voiced that the 30% NHTF units will be the hardest to qualify & keep qualified.
Will grants be available to existing ELI homeowners for repairs?
No, funds will not be used for homeowner repairs
Will NHTF compliance be consistent and comparable to other WCDA programs to help managers comply with regulations?

5. NHTF Distribution
WCDA is designated to administer and allocate the funds for the State of Wyoming. Funds will be allocated the following activities:
$ 300, % will be used for Administration
$2,700, % will be used for Rental Housing Activities
There will be a Small Rural Project Set-Aside to encourage geographic distribution of the funds.

6. NHTF Rental Activities
Rental Housing
New Construction
Acquisition and/or rehabilitation
Rehabilitation
Minimum of $30,000 cost per unit
Capital Needs Assessment
Conversion
Reconstruction
Operating expense funds only apply when coupled with a rental project funded with HTF

7. NHTF Eligible Project Costs
Land Acquisition Costs
Development Hard Costs
Demolition Costs (only as a part of a rehabilitation project)
Site Improvements
Related soft costs
Refinancing Costs

8. Amount of Subsidy
The value or purchase price of the property purchased is restricted
A market assessment is required to determine need and market demand for projects
Underwriting of the project is required
Rehabilitation
Capital Needs Assessment performed by an unrelated third party
Review of owner’s management practices
Uniform Relocation Act does apply
Maximum could be the same as the HOME program
Have to be reasonable and based on actual costs of developing non-luxury housing in the area

9. Maximum per Unit Subsidy
Amount of Subsidy
Minimum and Maximum per unit subsidy is determined by WCDA annually and is included in the Affordable Housing Allocation Plan
Maximum per Unit Subsidy
# Bedrooms
Per Unit Subsidy
$88,000 1
$101,000 2
$122,000 3
$158,000 4
$174,000

10. Eligible forms of Subsidy
Interest-bearing loans
Non-interest bearing loans
Interest subsidies that leverage other monies
Deferred payment loans
Forgivable loans
Alternative forms must be approved by HUD

11. Eligible forms of Subsidy (cont.)
When combining NHTF funds with HOME funds, deferred and/or forgivable loans may be considered. Please contact WCDA for consideration prior to finalizing your application. Except in the first year after project completion, no further NHTF funds can be used during the affordability period of the project

12. Additional Considerations
Rents are strictly controlled
Tenants must meet income requirements
100% of the NHTF funds must assist extremely low income households with annual gross incomes at or below 30% of area median income (AMI)
Both rent and income restrictions are long term (minimum of 30 years)
Single or Multiple Sites
Public or Private ownership

13. Additional Considerations
Property Standards
Environmental Review
Fair Housing Laws Apply
Employment and Contracting
Davis-Bacon requirements do not apply
Site and Neighborhood Standards
Lead-based paint
Other cross-cutting regulations
Other: URA, Affirmative Marketing, Conflict of Interest (Davis Bacon and Match do not apply)

14. Property Standards
Housing must meet all applicable local codes, rehabilitation standards, ordinances, and zoning ordinances at the time of completion.
In the absence of local codes the project must meet the International Residential Code or International Building Code
NHTF is not currently subject to 24CFR Part 58 but HUD is required to comply with the National Environmental Protection Act, so they are working on guidance.

15. Site and Neighborhood Requirements
Must be developed in full compliance with:
Civil Rights Act of 1964
Fair Housing Act
HUD regulations that promote greater choice of housing opportunities
Site
Projects will be evaluated to insure that the site is in a suitable location and meets HUD’s site and neighborhood standards

16. Eligible Applicants Incorporated Cities and Towns
Community Housing Development Organizations (CHDO) - No CHDO set-aside
Counties
Non-Profit Developers
For Profit Developers
Public Housing Authorities
All projects must be developed pursuant to the jurisdiction’s respective Consolidated Plan

17. Developer Capacity
An assessment of Developer Capacity is required. This includes:
Experience and capacity to develop the project
Financial Resources sufficient to carry out the project

18. NHTF Time Frames Specific timelines to commit and spend funds
24 months to enter into written agreements with Owner/Developer to reserve NHTF funds
24 months to commit funds into HUD’s NHTF system
5 years to actually spend the funds
No funding can be allocated until WCDA signs a contract with HUD regarding any federal funding.

19. Compliance Minimum 30 year Affordability Period
All beneficiaries must be income qualified
Rents must be no more than the 30% HUD maximum (updated annually)
Rental households must be re-certified annually
All Fair Housing Laws apply
On-site inspection will be done per HUD requirements
Ongoing Financial Over-sight

20. Allocation Process
Applications are accepted typically once a year, however, depending on available funding a second round may be scheduled
Typically the application period opens January 1st with a deadline for submission of the last working day in January
Applications and the Affordable Housing Allocation Plan will be available on WCDA website
Projects are evaluated based on scoring criteria outlined in the Allocation Plan with a minimum score required for funding

21. Wyoming Community Development Authority 155 N
Wyoming Community Development Authority 155 N. Beech Street Casper, WY (307) wyomingcda.com
National Housing Trust Fund (NHTF) – 24 CFR Part 93 Wyoming Affordable Housing Allocation Plan ( Contact Edie Phillips, Federal Programs Officer Lesli Wright, Deputy Executive Director of WCDA