Agenda - Council - 03/26/2013 - Laserfiche WebLink

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ROUND 1— MINIMUM THRESHOLD REQUIREMENTS For applications submitted in Round 1, all applicants statewide must meet one of the following threshold types. Please indicate the Threshold item you meet: A. In the Metropolitan Area: 1. ❑ New construction or substantial rehabilitation in which, for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), at least 75 percent of the total tax credit units are single room occupancy units with rents affordable to households whose income does not exceed 30 percent of the area median income. 2. ❑ New Construction or substantial rehabilitation family housing projects that are not restricted to persons 55 years old or older in which, for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), at least 75 percent of the total tax credit units contain two or more bedrooms and at least one-third of the 75 percent contain three or more bedrooms; or 3. ❑ Substantial rehabilitation projects in neighborhoods targeted by the city for revitalization. B. Outside the Metropolitan Area: 1. ❑ Projects which meet a locally identified housing need and which are in short supply in the local housing market as evidenced by credible data such as local council resolution submitted with the application. (For Threshold Letter — Sample Format, see HTC Procedural Manual, Reference Materials Index.) C. Projects that are not restricted to persons of a particular age group and in which, for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), a percentage of the units are set aside and rented to persons: 1. ❑ with a serious and persistent mental illness as defined in Minnesota Statutes § 245.462, Subdivision 20, paragraph (c); 2. ❑ with a developmental disability as defined in United States Code, Title 42, Section 6001, paragraph (5), as amended; 3. ❑ who have been assessed as drug dependent persons as defined in Minnesota Statutes § 254A.02, Subdivision 5, and are receiving or will receive care and treatment services provided by an approved treatment program as defined in Minnesota Statutes § 254A.02, Subdivision 2; 4. ❑ with a brain injury as defined in Minnesota Statutes § 256B.093, Subdivision 4, paragraph (a); or 5. ❑ with permanent physical disabilities that substantially limit major life activities, if at least 50 percent of the units in the project are accessible as provided under Minnesota Rules Chapter 1341. D. Preserve Existing Subsidized Housing: 1. ❑ Projects, whether or not restricted to persons of a particular age group, which preserve existing subsidized housing, if the use of tax credits is necessary to (1) prevent conversion to market rate use or (2) to remedy physical deterioration of the project which would result in loss of existing federal subsidies; or E. Rural Development: 1. ❑ Projects financed by Rural Development, which meet statewide distribution goals. 2013 HTC Self -Scoring Worksheet Minimum Threshold Requirements 2 of 17 Revised 04/2012