Tenant services and amenities that will enhance the livability of the project Criterion 4. The applicant elects to limit the total Developer Fee as a percentage of the total development cost (excluding developer fee) as presented in the application. The Developer Fee includes total fees paid to the Developer, including, but is not limited to, consulting fees, project management fees, developer overhead, and developer fees. Architectural, Engineering, Accounting, and Legal fees are not included as the Developer Fee. Developer Fee is subject to a maximum threshold cap. Please refer to Section III (B) (10) for details. Exceeding of this threshold cap results in immediate rejection of the application. Applicants receive scores for this criterion based on the table below. Please note the different categories for New Construction vs. Acquisition / Rehabilitation applications. 9% LIHTC Applicants: Acquisition / Rehabilitation New Construction Fee on Acquisition Fee on Rehabilitation Fee Points Fee Points Fee Points 15% > Fee 0 10% > Fee 0 15% > Fee 0 ≥ ≥ ≥ 13% 8% 13% 13% > Fee 1 8% > Fee 7% 1 13% > Fee 1 ≥ ≥ ≥11% 11% 11% 9% 2 Fee < 7% 3 11% > Fee 2 > Fee ≥ ≥9% 9% > Fee 7% 3 Fee < 9% 4 ≥ 7% > Fee 6% 5 ≥ Fee < 6% 7 Criterion 5. Project will be receiving, for the first time, project-based rental assistance subsidies which would result in eligible tenants paying approximately 30% of their gross monthly income towards rent. Eligible programs shall include, but not be limited to, the Rural Development 515 Loan Program and HUD Section 8 project-based Rental Assistance Program. If the answer to the question is NO 0 points are awarded If the answer to the question is YES 1 to 7 points are awarded* * If all the units in the project have project based subsidies then 7 points is awarded, if only a portion of a project has project based subsidies, then the scoring will be adjusted based upon the percentage of units subsidized. The percentage is derived as of Subsidized Units / LIHTC and non-LIHTC “Number provided they are developed simultaneously. subsidized units,” Criterion 6. State/Local government support. The project will be receiving a permanent below market loan or grant
Tenant services and amenities that will enhance the livability of the project Criterion 4. The applicant elects to limit the total Developer Fee as a percentage of the total development cost (excluding developer fee) as presented in the application. The Developer Fee includes total fees paid to the Developer, including, but is not limited to, consulting fees, project management fees, developer overhead, and developer fees. Architectural, Engineering, Accounting, and Legal fees are not included as the Developer Fee. Developer Fee is subject to a maximum threshold cap. Please refer to Section III (B) (10) for details. Exceeding of this threshold cap results in immediate rejection of the application. Applicants receive scores for this criterion based on the table below. Please note the different categories for New Construction vs. Acquisition / Rehabilitation applications. 9% LIHTC Applicants: New Construction Acquisition / Rehabilitation Fee on Acquisition Fee on Rehabilitation Fee Points Fee Points Fee Points 15% > Fee ≥ 13% 0 10% > Fee ≥ 8% 0 15% > Fee ≥ 13% 0 13% > Fee ≥ 11% 1 8% > Fee ≥ 7% 1 13% > Fee ≥11% 1 11% > Fee ≥ 9% 2 Fee < 7% 3 11% > Fee ≥9% 2 9% > Fee ≥ 7% 3 Fee < 9% 4 7% > Fee ≥ 6% 5 Fee < 6% 7 Criterion 5. Project will be receiving, for the first time, project-based rental assistance subsidies which would result in eligible tenants paying approximately 30% of their gross monthly income towards rent. Eligible programs shall include, but not be limited to, the Rural Development 515 Loan Program and HUD Section 8 project-based Rental Assistance Program. If the answer to the question is NO 0 points are awarded If the answer to the question is YES 1 to 7 points are awarded* * If all the units in the project have project based subsidies then 7 points is awarded, if only a portion of a project has project based subsidies, then the scoring will be adjusted based upon the percentage of units subsidized. The percentage is derived as “Number of Subsidized Units / LIHTC and non-LIHTC subsidized units,” provided they are developed simultaneously. Criterion 6. State/Local government support. The project will be receiving a permanent below market loan or grant
2019_2020-QAP_DU-draft-redline.docx