Around the State in Housing

Substantial Amendment

to the

State of Louisiana 

2015-2019 Consolidated Plan and 2016 Action Plan

The U.S. Department of Housing and Urban Development (HUD) recently awarded the Louisiana Housing Corporation (LHC) with $3 million in federal funding under the National Housing Trust Fund (NHTF). 2016 is the first year that funding has been made available under this program, and now is a critical time to demonstrate Louisiana and other states’ ability to effectively use trust fund dollars. To accept funding allocated under the National Housing Trust Fund the state is required to submit a  substantial amendment to its adopted Consolidated Plan. By way of this notice, we are soliciting comments on the LHC proposed   amendment which consists in the state’s National Trust Fund Allocation Plan.

Summary

The National Housing Trust Fund Provides funding to states for the development of housing affordable to households at or below 30% of adjusted median income (AMI).

 

2016 Budget

 

Administration $300,000.00
Homeownership Development $0.00
Multifamily Housing Construction $2,700,000.00
Rental Operating Assistance $0.00
Total $3,000,000.00

 

Distribution of Funds

The LHC will make NHTF dollars available through an open and competitive Notice of Funding Availability (NOFA) process. A NOFA will be issued at least once during the program year. Additional NOFAs will be issued as needed to address unused or returned funds. The NOFA will detail requirements  and priorities in effect and to be considered in grading and ranking the applications. The LHC will fund Administrative activities and Multifamily activities during the 2016 program year. Operating Assistance and Homeownership Development activities are listed as eligible and may have funds transferred from the Multifamily line items if LHC determines that it is necessary to do so to meet the goals of the program.

 

Efforts to Minimize Displacement

If applicants for development assistance indicate that the project will involve the acquisition and rehabilitation or rehabilitation alone of an existing occupied building or buildings the applicant will be required to submit plans and adequate budget for accomplishing the relocation consistent with the Uniform Relocation Act.

 

A complete draft of the Louisiana Housing Corporation National Housing Trust Fund 2016 Allocation Plan is available on the LHC website at:  http://www.lhc.la.gov/assets/Programs/PublicNotices/LouisianaNationalHousingTrustFundAllocationPlan–PublicReviewCopy.pdf.    Comments may be sent in at any time but to be considered for consideration they must be received no later than July 21, 2016.

 

Background on the NHTF

The NHTF was established under Title I of the Housing and Economic Recovery Act of 2008, Section 1131 (Public Law 110-289) and provides funding to states to produce affordable housing for households at or below 30 percent of Adjusted Median Income. The LHC has been designated as the State Designated Entity (SDE) for purposes of administering the NHTF Program, and Louisiana’s initial allocation is $3 million. Total funding nationwide for the first year of NHTF has been set at $174 million and comes from an assessment on loans made by Freddie Mac and Fannie Mae.

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