1. ADFA 2011 HOUSING WORKSHOP December 1, 2011 Jacksonville, AR Presented by Sara Oliver Sara.Oliver@ adfa.arkansas.gov 501-682-5903 1

2. ADFA 2011 HOUSING WORKSHOP  STAFF INTRODUCTIONS  HOUSEKEEPING ISSUES  PURPOSES OF THE WORKSHOP  AGENDA  HOME PROGRAM  MULTI-FAMILY PROGRAMS  COMPLIANCE MONITORING 2

3. ADFA 2011 HOUSING WORKSHOP ADFA staffing includes 26 Housing positions - 23 employees and 3 vacancies:  Single Family – 5 positions  Multi-Family – 4 positions; 1 vacant  HOME – 9 positions; 2 vacant  Compliance Monitoring – 6 positions  Administrative staff – 2 positions 3

4. ADFA 2011 HOUSING WORKSHOP ADFA HOUSING STAFF WORK AREAS  ADFA is responsible for administering over $372 million for 2010-11  Sixty (60) MF developments in some stage of execution  Over 700 housing loans in Servicing  Over 26,000 units in Compliance portfolio  Two (2) PRLF, four (4) owner-occupied, one (1) CHDO, one (1) NSP III, one (1) Asst. Living, one (1) FAF, and 6 CHDO applications under review  2011 HOME disbursements over $20 million (avg. $442,000 per week)  Report to HUD, IRS, Independent Auditors, Internal Auditors, State Bank Examiners, Rating Agencies  Perform research on housing policies, statistics, housing needs  Advocate for additional housing resources (Housing Trust Fund)  Developed eight (8) new programs within the last 3 ½ years  Provide technical assistance to developers at all capacity levels  Arrange and conduct Regional Workshop and other training events  Respond to requests for information on Housing Programs  General administration (planning, policy dev., hiring, evaluating, etc.) 4

5. ADFA 2011 HOUSING WORKSHOP ADFA HOUSING STAFF WORK AREAS (continued)  Participation on Governor’s Supportive Housing Task Force  Serve on Board of AR Teacher Housing Development Foundation  Serve on St. Louis Federal Reserve Bank CD Advisory Committee  Coordinate with Affordable Housing Association of Arkansas  Coordinate with ACHANGE  Continue to expend and report ARRA funds  Coordinate with Asset Manager on ARRA projects  Participation in Administrative Procedures Act and Legislative Council Review processes  Conduct Public Hearings  Prepare and distribute affordable housing information upon request  Coordinate with Legislature and provide information as requested  Attend as many ground breakings and opening ceremonies as possible  And solve problems when errors or miscommunication occurs 5

6. ADFA 2011 HOUSING WORKSHOP  It is in everyone’s mutual best interest to work together positively to address the significant and ever-increasing housing problems faced by low- income Arkansans.  Good partnerships, communication, collaboration, appreciation of varying perspectives, patience  Funding cuts have begun and are projected to worsen  Greater scrutiny by Legislative Council, which may significantly affect ADFA policy processes 6

7. ADFA 2011 HOUSING WORKSHOP  What isn’t working well:  Too many requests for changes  Incomplete / deficient applications  Too many requests for waivers / extensions  Incorrect assessment of homeowners financial position  Failure to submit complete applications  Not informing homeowners of their responsibilities  Submission of incomplete pay requests (missing signatures, inspection reports)  Failure to adequately assess building site for owner- occupied rehabilitation/reconstruction 7

8. ADFA 2011 HOUSING WORKSHOP  What is working well?  Accurate, correct, complete pay requests  Submitting complete, correct applications using application checklists  Providing responses to ADFA requests for information in a timely manner  Communicating with ADFA staff on issues related to potential applications, pay requests, needed information  Working with ADFA staff in a positive, cooperative manner 8

9. ADFA 2011 HOUSING WORKSHOP HOUSING UPDATES:  All Tax Credit Assistance Program (TCAP) funds committed ($20,463,053)  All Neighborhood Stabilization Program I (NSP I) funds committed ($19,600,000)  All Community Development Block Grant (CDBG) - Disaster funds committed ($10,134,098)  Likely a third effort will be necessary to allocate all NSP III funds ($4,750,000); only 1 applications recd. on 10/21/11  $962,500 of Assisted Living Incentive Funds has been committed, leaving over $4,000,000 available  $1,190,552 (56%) of PRLF funds has been committed, leaving $934,448 available 9

10. ADFA 2011 HOUSING WORKSHOP HOUSING UPDATES (continued):  $2,541,115 in FAF/NBMIR funds available  HOME Program had a 12.2% funding cut for 2011 and anticipates a 38% cut for 2012 ($12,269,079 reduced to $7,606,829)  Fair Housing Memorandum of Understanding in place  AR Housing Trust Fund – created by 2009 Legislature, but currently unfunded  Messaging, polling, and other efforts are underway to secure funding in the 2013 Legislative session 10

11. ADFA 2011 HOUSING WORKSHOP Upcoming deadlines/events: LIHTC Carryover Deadlines:  Tuesday, December 6, 2011  Wednesday, December 14, 2011 TCAP/Exchange Expenditure Deadline:  Wednesday, December 21, 2011 2012 Fair Housing Trainings 2012 LIHTC Application Deadline:  Friday, February 3, 2012 Next HOME Program Certification Training:  April, 24-26, 2012 at the Jacksonville Community Center 11

12. ADFA 2011 HOUSING WORKSHOP December 1, 2011 Jacksonville, AR Presented by Sara Oliver Sara.Oliver@adfa.arkansas.gov 501-682-5903 12