AffordableHousing TrustFund (AHTF)Housing Development
History of the AHTF• Created in 1992 by the KentuckyGeneral Assembly to address…– Declining housing resources– Homeless ho...
• Nonprofits• Units of Local Government• Local government housing authorities• Statewide housing assistanceorganizationsEl...
• Multifamily• Homeowner Rehabilitation• HomebuyerEligible Activities
• 30-year affordability– lien and deed restriction• 60 percent or less AMI• Affordable rents (HOME)Multifamily Restrictions
• Minimum five year affordability– Certificate of affordability or deedrestriction• 60 percent or less AMIHomeownership Re...
• KHC contributes $500k annually• 1998-2002 – Unclaimed lotteryproceeds in excess of $6 million• 2006- present– fees from ...
• Competitive– Applications due October 2013– Historically $1.5 million available• HouseWorks• Gap PoolApplication Process...
• Historically $1.5 million available• Open window cycle- approved lenders• Up to $10k of AHTF per unit• 50 percent match ...
• Historically $1.5 million available• Open window cycle- approved lenders• All HOME requirements apply• $40k limit- HB; $...
• Competitive– Applications due September 2013– $300k AHTF limit per project• Funding pools– Housing credit– Non housing c...
• Eligibility of housing credit projects– Nonprofit ownership-51 percent of thegeneral partnership• Funding decisions- 60 ...
• Eleven member committee• Advisory role to KHC• Quarterly meetingsAHTF Advisory Committee
Affordable housing trust fund (AHTF):  Housing Development
Affordable housing trust fund (AHTF):  Housing Development
Upcoming SlideShare
Loading in...5
×

Affordable housing trust fund (AHTF): Housing Development

517

Published on

Powerpoint accompanying workshop session from the Homeless and Housing Coalition of Kentucky's 2013 conference. Rob Ellis, Kentucky Housing Corporation.
Critical affordable housing needs are increasing in Kentucky. Representatives from Louisville, Lexington, and
Kentucky Housing Corporation discuss how the AFTF program helps in the development of affordable housing in
their communities

Published in: Business, Real Estate
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
517
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Affordable housing trust fund (AHTF): Housing Development

  1. 1. AffordableHousing TrustFund (AHTF)Housing Development
  2. 2. History of the AHTF• Created in 1992 by the KentuckyGeneral Assembly to address…– Declining housing resources– Homeless households or those at risk ofbecoming homeless– Households living in overcrowded and/orunsafe housing conditions
  3. 3. • Nonprofits• Units of Local Government• Local government housing authorities• Statewide housing assistanceorganizationsEligible Applicants
  4. 4. • Multifamily• Homeowner Rehabilitation• HomebuyerEligible Activities
  5. 5. • 30-year affordability– lien and deed restriction• 60 percent or less AMI• Affordable rents (HOME)Multifamily Restrictions
  6. 6. • Minimum five year affordability– Certificate of affordability or deedrestriction• 60 percent or less AMIHomeownership Restrictions
  7. 7. • KHC contributes $500k annually• 1998-2002 – Unclaimed lotteryproceeds in excess of $6 million• 2006- present– fees from variousdocuments recorded with countyclerksFunding for the AHTF
  8. 8. • Competitive– Applications due October 2013– Historically $1.5 million available• HouseWorks• Gap PoolApplication Process-Homeownership
  9. 9. • Historically $1.5 million available• Open window cycle- approved lenders• Up to $10k of AHTF per unit• 50 percent match requirement• Affordability mechanism• 180 days to complete rehabHouseWorks Initiative
  10. 10. • Historically $1.5 million available• Open window cycle- approved lenders• All HOME requirements apply• $40k limit- HB; $60k limit- HOR• 10-year deed restriction• Two project limitation• Two household limitationGap Pool Initiative
  11. 11. • Competitive– Applications due September 2013– $300k AHTF limit per project• Funding pools– Housing credit– Non housing credit– TransitionalApplication Process- Multifamily
  12. 12. • Eligibility of housing credit projects– Nonprofit ownership-51 percent of thegeneral partnership• Funding decisions- 60 to 90 days• Increase in administrative fees• Rural definitionSenate Bill 21
  13. 13. • Eleven member committee• Advisory role to KHC• Quarterly meetingsAHTF Advisory Committee
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×