How to Have a Picture Perfect Application

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How to Have a Picture Perfect Application
2005 Gap Financing Rental, Homeownership and
Preservation
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Dont let these trip you up!
Most common errors of 2004
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Show me the money
Make sure the LGN letter specifies the Housing
Development Assistance Program. Does the
commitment letter from the City/County name the
source of funding and whether it is a loan or a
grant? Does it list the rate and terms? Has the
bank used the model language for a commitment
letter?
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Hide and seek
Dont forget to include
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?Required Forms (see attachments)
?Most recent financial audit
?Value Added Design (requirements on page 70)
?Site Control (see page 14)
?Evidence of proper zoning (page 15)
?Evidence of submission to the local clearinghouse
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Just the fax Maam
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If you are using a faxed document in your
application, such as a deed or purchase contract,
make sure the fax is legible
If you cant read it, neither can we.
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How many development

• team members does it take to change a light bulb?

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Who are the members of the development team?
Which staff members will be directly involved?
What are their roles? Will this project affect
staff capacity?
Page 19, threshold criteria, full application
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Homeownership Projects
Have you included a list of eligible buyers, who
have been pre-qualified, that live within the
market area?
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the most common mistake of 2004
And Now...

• Incomplete/Inaccurate target population letters

Page 68
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Dont Forget Technical Assistance Session August
11, 2005 OHFA Board Room 100 to 300 Come
prepared with questions
RSVP Sylvia at seray_at_ohiohome.org