Project Submission: HPN New Markets Tax Credits Program

This form is intended for use by Housing Partnership Network (HPN) organizations; however, organizations that are also NeighborWorks America (NWA) organizations may submit this form.



Note: The Housing Partnership Network's NMTC program is administered in partnership with Smith NMTC Associates, LLC. Professionals with the Smith NMTC Associates team may contact you with regards to your project(s) and HPN's application for NMTC allocation.

Instructions

Do you have a project that could use the support of NMTCs? If so, please submit this intake form and keep in mind:


  • The purpose of this form is to collect information on potential projects for HPN's NMTC allocation application pipeline. Submitting this form does not guarantee funding.


  • Submit one project per form. You may submit this form multiple times for each project.


  • You may edit your responses after submission. You will receive a hyperlink and instructions to access and edit your responses after submitting.


  • Please allow ample time to submit complete project information. You may want to draft any lengthy responses in Word so you don't lose your work to a technical glitch.


  • Your project will be added to the pipeline once you click submit. The Smith NMTC Associates team will contact you if more detail or additional information is required.



Need more time? Complete the required fields, including Project Contact and Email, click SUBMIT. You'll receive instructions for logging into Smartsheet to view and make edits to your project(s). Email jreynolds@smithnmtc.com with questions about Smartsheet access.

The email addresses entered can be used to access the intake form after submission. Separate multiple emails with a comma.

Is your organization only a member of Housing Partnership Network (HPN), or also a member the NeighborWorks America (NWA)?*

Projects are included in all applicable pipelines.

Eligible Projects

  • can be in progress or in development
  • must be for-sale homes, not rental
  • must meet affordability requirements including at least 20% of homes sold to buyers with incomes at 80% AMI or below
  • recommended total project costs of at least $3.5M
  • must be in a qualified census tract or meet targeted populations criteria: Click Here to Review Details of NMTC Census Tract Qualification



Smith NMTC Associates will verify that your project is located in a qualified census tract or meets targeted populations criteria. You can pre-check your project address(es) location eligibility at smithnmtc.com/resources/nmtc-address-check.

Project Description & Location

Please provide a detailed description of the project including the total number of homes, type of housing (ie. condo, co-op, duplex, single family, ac/reh, new development, etc.), any specific place-based strategies employed, current status of development, etc.

Provide a specific, complete address for the project to verify site eligibility. If the project plan includes homes in multiple census tracts, provide an address from each census tract.


If an address is not yet available, please provide the complete census tract codes (FIPS) or latitude and longitude coordinates.

Use state abbreviation, please.

Select all of the areas in which your project homes will be located, using the following definitions as guides. Please refer to U.S. Census Bureau data to confirm.


  • Major urban areas: Counties in metropolitan area with a population equal to or greater than 1 million, including both central city and surrounding suburbs


  • Minor urban areas: Counties in metropolitan area with a population less than 1 million, including both central city and surrounding suburbs


  • Non-metropolitan Counties


To confirm your projects metro/non-metro status, please verify using an NMTC Mapping Tool:

https://cimsprodprep.cdfifund.gov/CIMS4/apps/pn-nmtc/index.aspx

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Select all applicable qualifying areas relevant to your project location(s):


  • Appalachian Regional Commission (ARC) distressed area
  • Brownfield Site: As defined under 42 U.S.C. 9601 (39)
  • Colonias Areas: As designated by the U.S. Department of Housing and Urban Development (HUD)
  • Delta Regional Authority (DRA) distressed area
  • FEMA Disaster Area: Counties for which the Federal Emergency Management Agency has issued a “major disaster declaration”
  • High Migration Rural County: Any county which, during the 20-year period ending with the year in which the most recent census was conducted, has a net out-migration of inhabitants from the county of at least 10% of the population of the county at the beginning of such period
  • Native Areas: Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands, and Alaska Native Village Statistical Areas
  • U.S. Island Areas: As determined by the United States Census Bureau including Puerto Rico, U.S. Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa
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Project Size & Scope

average cost per home

for homebuyers earning at or below 80% AMI

average cost per home

for homebuyers earning at or below 80% AMI

(i.e. acquisition, infrastructure, soft costs, etc.)

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Provide description and amount for each.

What percent of homes will be sold to buyers earning 80% AMI or below? A minimum of 20% must be sold to low-income buyers.

What is the remaining breakdown of percentage of sales planned for the following income ranges?

Discuss factors indicating readiness of project – ie. site control, progress of design and development process, status of permitting, funding for leverage, infrastructure development, etc.

What funding sources are planned or already secured for the project? Please list all.

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Project Strategy & Impact

Describe the neighborhood(s) where the project is located; include information regarding population demographics, circumstances that contribute to the need for affordable homeownership opportunities, and any other relevant information about the community:

What are the specific needs of this community that this project addresses (e.g. workforce housing, severe blight, vacancy, etc.):

Why have you selected this specific neighborhood or area for single-family for-sale development? How does this project contribute toward the community's long-term goals? Are any specific place-based strategies planned?


Is the project accessible to public transportation, jobs and healthy food options? What is the distance required to access each? Describe any additional Smart Growth principles considered in the development of this project.

https://smartgrowthamerica.org/our-vision/what-is-smart-growth/

Describe the processes your organization completed to solicit community input and engage community members in the development of the project?

Is this project part of a specific, named community plan? Or, does this project respond to the goals outlined in local, regional, or state development plans? If so, please provide the name of the plan(s), web address (if applicable), and relevant details.


If available, please upload plan(s).

Upload any relevant documents that may help to provide a complete picture of the project, such as:


  • community plans described above
  • project budget / proforma
  • renderings or site maps
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Organizational Services & History

Does your organization directly provide support services to homebuyers, such as pre/post-purchase financial counseling, homebuyer education, or real estate brokerage services? If so, please describe those services. If your organization does not directly provide services, please describe any collaborative or referral arrangements with other organizations that support your homebuyers.

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Does your organization provide mortgage loans to buyers or other financial assistance? Please describe.

Have you engaged in for-sale housing development in the past 3 years? If so, please provide information on the number of units developed and size of projects involved. If not, have you been involved in other housing development projects in the past 3 years?

Additional Information

Please share any additional compelling qualities of this project that have not been included in prior responses. Examples include strategies to maintain permanent affordability of the project’s homes (i.e. shared equity, community land trust model, etc.).

Click the SUBMIT button to complete this intake form.

A confirmation screen will indicate that your form responses have been submitted.


Thank you for your important work in this field and for your interest in New Markets Tax Credits as an opportunity for project funding.

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