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Notice of Funding Available » What's NewPublic Notices

Monday, December 12, 2016

Notice of Funding Availability

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 million available in HOME funds for the new construction or rehabilitation of rental housing and homeowner rehab programs. $1,350,000.00 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 $5.4 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 $3.6 million. $367,752.00 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.

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 August 31, 2017.

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. on January 31, 2017. Late applications will not be ranked. It is anticipated that funding will be awarded in mid-May, 2017.

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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