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2018 Notice of Funding Available » What's NewPublic Notices

Friday, September 1, 2017

M E M O R A N D U M

To: Cities, Counties, Housing Authorities, Non-Profit and For-Profit Housing Developers
From: John R. Batey, AICP, Director of Federal Programs
Subject: Notice of Funding Availability
Date: August 31, 2017

The Wyoming Community Development Authority is announcing the availability of funds through an
application period under the HOME Investment Partnerships Program (HOME), National Housing Trust
Fund (NHTF) and the Low Income Housing Tax Credit Program (LIHTC).

HOME INVESTMENT PARTNERSHIPS PROGRAM (HOME)
ALL FUNDING IS SUBJECT TO FINAL ALLOCATION TO OUR STATE FROM HUD.
It is estimated there will be approximately $7.4 million available in HOME funds for the new construction or
rehabilitation of rental housing and homeowner rehab programs. $1,400,000.00 is limited to CHDO activities
with the balance being available to all projects. Small projects, as defined in the Wyoming
Affordable Housing Allocation Plan, will be given preference.

NATIONAL HOUSING TRUST FUND (NHTF)
ALL FUNDING IS SUBJECT TO FINAL ALLOCATION TO OUR STATE FROM HUD.
It is estimated there will be approximately $3.9 million available in HOME funds for the new construction or
rehabilitation of rental housing and homeowner rehab programs. Small projects, as defined in the Wyoming
Affordable Housing Allocation Plan, will be given preference.

LOW INCOME HOUSING TAX CREDIT PROGRAM (LIHTC)
The amount of credits estimated to be available under the Low Income Housing Tax Credit Program for
this application cycle is approximately $3.2 million. $323,783.00 is limited to Non- profits with the
balance being available to all projects. Small projects, as defined in the Wyoming Affordable
Housing Allocation Plan, will be given preference.

TAX CREDIT ASSISTANCE PROGRAM (TCAP) PROGRAM INCOME
It is estimated there will be approximately $1.01 million available under the Tax Credit Assistance
Program for this application cycle. These funds may be used to “make whole” those LIHTC projects
awarded partial funding due to limited availability of LIHTC credits.

If all funds under any set-aside are not committed or utilized, the funding may revert to other set-asides.

A new requirement under the HOME program requires ALL funding have firm commitments
prior to the HOME funds being committed. THEREFORE, projects must have ALL permanent
financing from all sources in place on or before April 30, 2018.

In addition, a recipient may not commit HUD assistance funds until an Environmental Review has been
conducted and HUD has approved the recipient's Request for Release of Funds (RROF). Until the
RROF and related certification has been approved, the recipient may not commit non-HUD funds on an
activity if the activity or project would have an adverse environmental impact or limit the choice of
reasonable alternatives.

Applications for the HOME, NHTF and Tax Credit programs must be received in the WCDA
office at 155 N. Beech, Casper, Wyoming on or before 5:00 p.m. MDT on September 29, 2017.
Late applications will not be ranked. It is anticipated that funding will be awarded in mid-
January, 2018.

The Affordable Housing Allocation Plan and Applications for these programs may be downloaded from
the WCDA Web page at http://www.wyomingcda.com or hard copies may be obtained by contacting the
WCDA office at 307-265-0603 and asking for Edie Phillips.

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