The monthly Delaware State Council on Housing (COH) meeting was held at the Buena Vista Conference Center in New Castle, Delaware. Please see the agenda, funding requests and resolutions , October, 12, 2011 meeting minutes and 2012 proposed meeting schedule.
The Delaware State Housing Authority (DSHA) report was provided by Ms. Eliason: the annual Low Income Housing Tax Credit (LIHTC) developer’s forum held on October 11, 2011, was successful with 20 attendees from the development community. The forum generated much discussion on changes for the 2012 Qualified Action Plan (QAP), including changes to the general contractor bidding requirements; increasing points associated with compliance period for a Low Income Housing Tax Credit (LIHTC) project; and addressing a project’s transit access.
The Loan Review Committee recommended the following Housing Development Fund (HDF) requests, which were approved by the Delaware State Council on Housing (COH):
First State Resource Conservation and Development Council (RC&D) requested a one-year grant of $375,000 for its Emergency Home Repair Program.
• The Emergency Home Repair Program provides low income households with emergency home repairs, with a maximum limit set to $7,500 per household. The program is anticipated to provide 285 home repairs.
• The motion carried with Mr. Huxtable abstaining.
Habitat for Humanity of New Castle County (HHNCC) requested a two-year grant of $139,500 for its Prices Run Rehabilitation Project.
• The Prices Run Rehabilitation Project provides rehabilitation to seven row homes located in Wilmington, Delaware. To be eligible: homebuyers must complete financial counseling and construction training; the first adult residing in the home must contribute 225 hours of sweat equity and each additional adult must contribute 150 hours of sweat equity; and a homebuyer’s income must be within 30%- 60% Area Median Income (AMI). Four of the seven homebuyers have already been selected.
• The motion carried unanimously.
Habitat for Humanity of New Castle County (HHNCC) also requested a two-year grant of $222,750 for the Mill Stone Phase III development.
• The Mill Stone Phase III development consists of nine units of new construction homeownership property located on Vandever Avenue. To be eligible for these units: homebuyers must complete financial counseling and construction training; the first adult residing in the home must contribute 225 hours of sweat equity and each additional adult must contribute 150 hours of sweat equity; and a homebuyer’s income must be within 30%- 60% Area Median Income (AMI).
• The motion carried unanimously.
Central Delaware Habitat for Humanity (CDHFH) requested a one-year grant of $83,500 for the Frederica Neighborhood Revitalization project.
• The Central Delaware Habitat for Humanity (CDHFH) is revitalizing the Frederica neighborhood by purchasing five lots for the purpose of building five Habitat Homes. To be eligible for these units: homebuyers must complete NCALL’s housing and counseling seminar as well as the 5 week Growing Your Money program; each adult residing in the home must contribute 250 hours to Central Delaware Habitat for Humanity (CDHFH) with a minimum of 100 hours towards construction of a Habitat Home; and a homebuyer’s income must be within 30%- 60% Area Median Income (AMI).
• The motion carried unanimously.
In addition, the Loan Review Committee recommended the following funding requests for Low Income Housing Tax Credit (LIHTC) projects, which were approved by the Delaware State Council on Housing (COH):
GSH Properties, LLC (GSH) requested the following funds for the acquisition and substantial rehabilitation of Heron Run Apartments: (1) Construction loans include FY11 Affordable Rental Housing Program (ARHP) Special Funds loan for $2,775,000; FY11 HDF ARHP Bond Funds loan for $950,000; and FY10 HDF Preservation loan for $350,000; (2) Permanent financing includes FY11 ARHP Special Funds as a second mortgage, not to exceed $1,612,726.
• Heron Run Apartments is a 40-unit development comprised of one- and two-bedroom apartments located in Smyrna, Delaware. The project has been allocated 2011 Low Income Housing Tax Credits (LIHTC) in the amount of $540,738 annually.
• The motion carried unanimously.
Better Homes of Laurel, Inc. and Delaware Valley Development Company requested the following funds for the leasehold acquisition and substantial rehabilitation of Carvel Gardens: Construction loans include FY10 HDF Preservation loan for $1,550,000; HOME loan for $1,200,000; and FY11 Affordable Rental Housing Program (ARHP) Special Funds for $992,006; (2) Permanent financing includes FY10 HDF Preservation as a deferred second mortgage in an amount not to exceed $1,550,000; and HOME deferred third mortgage for $1,200,000.
• Carvel Gardens is a 100-unit development comprised of one to four-bedroom apartments located in Laurel, Delaware. The project has been allocated 2011 Low Income Housing Tax Credits (LIHTC) in the amount of $953,270 annually.
• The motion carried unanimously.
Ms. Sokolowski talked about the Housing Policy meeting where they reviewed the Housing Development Fund (HDF) competitive funding process.
Mr. Peters talked about the Communications Committee which put together testimony for the Delaware State Housing Authority (DSHA) FY13 Budget Hearing taking place on November 10,2011, at 10:00 a.m. at Senate Chambers, Legislative Hall, Dover, Delaware.
The next monthly meeting will be held at Wild Quail Country Club in Camden Wyoming, Delaware on December 14, 2011 at 11:00 a.m.
