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Programs

Housing Finance AuthorityProgramsEvaluation, Selection and Ranking
Process for New Development Selection
 

Evaluation, Selection a​nd Ranking of Developments

All proposed developments for which a complete Application has been timely submitted shall be subject to evaluation by the HFA. Based upon such evaluation, a proposed development may be selected to receive SFCP financing. All developments selected for SFCP financing shall be ranked by the HFA in order of priority.
 
The evaluation, selection, and ranking of proposed developments shall be conducted by the HFA either during the regularly scheduled HFA board meeting or at a special board meeting scheduled for such purpose. The HFA’s ranking will be submitted to the Board of County Commissioners for consideration.
 

Evalua​tion

In addition to specific requirements outlined within the Application, the HFA will evaluate each proposed development on a case-by-case basis in accordance with a points-based scoring system that the HFA deems necessary for such evaluation. In evaluating proposed developments, the criteria used by the HFA may include, but shall not be limited to, the following criteria (the “Evaluation Criteria”):

  • whether the development involves construction of new affordable housing units or rehabilitation of existing affordable housing units;
  • the location of the proposed development and impact on the shortage of quality affordable housing in the specific geographic sub-market;
  • the overall construction cost per unit, with consideration given to the size of the units, quality of the development, etc. since the HFA does not intend to penalize developments which may offer more costly benefits;
  • development design, including architectural design and quality of materials, that may enhance the community, the buildings and quality of life for the residents;
  • the number of bedrooms per unit;
  • the experience of the developer (or its principals) with the development, and construction of single family developments, including its ability to complete developments in a timely manner and history of past or present defaults (financial or otherwise) by the developer or other entities involving the same principals;
  • amount of financing requested per housing unit and other sources of financing available for development and construction or rehabilitation of the development;
  • such other factors as the HFA may designate.

The Evaluation Criteria listed herein are provided solely for the purpose of assisting prospective developers in understanding the types of factors which might be considered by the HFA in evaluating and selecting developments for financing. Under no circumstances shall the order in which the Evaluation Criteria are listed herein be construed to indicate degree or weight of importance.

The HFA, in its sole discretion, may or may not consider one or more of its Evaluation Criteria in evaluating a proposed development, and has the right to consider any and all factors in evaluating proposed developments, whether or not such factors are included in its Evaluation Criteria. Developers must submit one original and fourteen (14) copies of the Criteria Information pertaining to each proposed development to the HFA within this time frame for it to be considered. Developers are encouraged to provide as much information on its proposed development(s) regarding the Evaluation Criteria as they believe to be responsive and relevant. Developers will not be permitted to supplement the Criteria Information unless there is a material change from the Application or Criteria Information previously submitted, or additional information is specifically requested by the Board or a member thereof.