Changes in the QAP Moderator Audrey Martin Purple

Changes in the QAP Moderator: Audrey Martin, Purple Martin Real Estate Panelists: Marni Holloway, TDHCA Scott Marks, Coats Rose Lora Myrick, Housing Lab by BETCO Janine Sisak, DMA Companies, LLC

Hot Topics • • • HB 3574 (Educational Quality) Urban Core Points Concerted Revitalization Plans Readiness to Proceed Tie Breakers Cost per Square Foot and Leveraging

HB 3574 – Educational Requirements • Educational Quality in threshold but not in scoring • Sunsets August 31, 2019 • TDHCA report on outcome due September 1, 2019

Urban Core • Scoring and tie breaker factor in 2018 • Minimum population 200, 000 • Radius depends on population: • 2 miles if population 200, 000 - 499, 999 • 4 miles if population 500, 000 or more

Concerted Revitalization Plan • New in 2018 Tax Increment Reinvestment Zones (TIRZ) and Tax Increment Finance (TIF) plans eligible • Increase in applications with CRP points in 2018

Readiness to Proceed • Hurricane Harvey in 2018, but not in 2019 if points remain • Rio Grande Valley (Hidalgo and Cameron Counties) eligible in 2019 if points remain • Closing required end of October of award year

Tie Breakers • Distance from existing LIHTC property • Affordable housing needs score • Tiebreakers that favor census tracts are disfavored by TAAHP • Financial leveraging such as lowest tax credit amount per unit also disfavored by TAAHP

Cost per Square Foot and Leveraging • Support for change to costs “voluntarily included in eligible basis” in recent years • Cost per Square Foot – TAAHP supports increase to dollar amounts • TAAHP supports increases to leveraging percentages to strengthen financial feasibility