January-May - Application period. Receive Applications for projects which will be given priority consideration by the HFA over Applications submitted subsequent to May 31st.
March 31- Deadline for obtaining plat approval for project.
April HFA meeting Assessment by the HFA Board as to whether Plat Approval Deadline was met.
June - Seven days prior to the June board meeting of the HFA, developers are required to submit information on Evaluation Criteria.
At regularly scheduled Board meeting or a special meeting, the HFA will evaluate all complete Applications received on or prior to May 31. After evaluating proposed projects, the HFA will select projects for priority financing and will rank them in order of priority.
From June to August - Developer must work with the credit underwriter and submit all information and documents requested by the Credit Underwriter to enable it to analyze the project. The Credit Underwriter must provide HFA staff with monthly progress reports.
By August 15 - Deadline for submitting Credit Underwriting Report to HFA.
By September 1 - Deadline for resolving and curing any and all deficiencies cited in the Credit Underwriting Report.
By September 5 (or business day immediately following) - Deadline for submitting to the HFA a final, complete Credit Underwriting Report.
September HFA meeting Consideration by the HFA Board of the completed Credit Underwriting Reports, and final determination by the HFA of which projects ranked in June will receive allocation.
September 30 - Deadline for submitting plat application.
October HFA meeting - HFA meeting Determination by the HFA Board whether the Plat Application Deadline was met.