Tenant services and amenities that will enhance the livability of the project Criterion 4. The applicant elects to limit the total Developer Fee as a percentage of the total development cost (excluding developer fee) as presented in the application. The Developer Fee includes total fees paid to the Developer, including, but is not limited to, consulting fees, project management fees, developer overhead, and developer fees. Architectural, Engineering, Accounting, and Legal fees are not included as the Developer Fee. Developer Fee is subject to a maximum threshold cap. Please refer to Section III (B) (10) for details. Exceeding of this threshold cap results in immediate rejection of the application. Applicants receive scores for this criterion based on the table below. Please note the different categories for New Construction vs. Acquisition / Rehabilitation applications. 9% LIHTC Applicants: New Construction Acquisition / Rehabilitation Fee on Acquisition Fee on Rehabilitation Fee Points Fee Points Fee Points 15% > Fee ≥ 13% 0 10% > Fee ≥ 8% 0 15% > Fee ≥ 13% 0 13% > Fee ≥ 11% 1 8% > Fee ≥ 7% 1 13% > Fee ≥11% 1 11% > Fee ≥ 9% 2 Fee < 7% 3 11% > Fee ≥9% 2 9% > Fee ≥ 7% 3 Fee < 9% 4 7% > Fee ≥ 6% 5 Fee < 6% 7 Criterion 5. Project will be receiving, for the first time, project-based rental assistance subsidies which would result in eligible tenants paying approximately 30% of their gross monthly income towards rent. Eligible programs shall include, but not be limited to, the Rural Development 515 Loan Program and HUD Section 8 project-based Rental Assistance Program. If the answer to the question is NO 0 points are awarded If the answer to the question is YES 1 to 7 points are awarded* * If all the units in the project have project based subsidies then 7 points is awarded, if only a portion of a project has project based subsidies, then the scoring will be adjusted based upon the percentage of units subsidized. The percentage is derived as “Number of Subsidized Units / LIHTC and non-LIHTC subsidized units,” provided they are developed simultaneously. Criterion 6. State/Local government support. The project will be receiving a permanent below market loan or grant
Project location and market demand. 0 to 6 points The points awarded will be based on HHFDC’s evaluation of factors such as, but not limited to: Project is located in a county’s urban core/district (preference) versus rural district and is accessible to employment opportunities and shopping; and recreational, medical and educational facilities are located in the immediate vicinity of the project site. Located in a County’s urban core 4 points Located in an urbanized area 3 points Located in a master planned community 2 points Located in a rural district in proximity to employment opportunities and medical and educational facilities 1 point Project may earn two additional points for availability of a mass transit station/stop within ½ mile. For Oahu, the term “mass transit” is exclusive to rail. For the neighbor islands, the term “mass transit” is not exclusive to rail. 2 points Criterion 9. Developer and Property Management Experience. 0 to 7 points Applicants receive scores for this criterion based on the following: Number of LIHTC Placed In Service by the Project Owner (General Partner/Managing Member/Developer); Projects Placed in Service Points None 0 1 – 5 1 6+ 2 Number of LIHTC Placed In Service in Hawaii by the Project Owner (General Partner/Managing Member/Developer); Projects Placed in Service Points None 0 1 – 3 1 4+ 2 Number of LIHTC projects managed by the Management Agent; Projects Managed Points None 0 1 – 5 1 6+ 2 Number of LIHTC project located in the State of Hawaii managed by the management Agent:; Projects Managed Points None 0 1+ 1 Criterion 10.