Residential Project: NMTC Program Intake Form

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 about projects as part of the intake process for working with the Smith NMTC Associates team. 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 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.


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.

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
  • must be in a qualified census tract or meet targeted populations criteria (census tract AMI cannot exceed 120% and at least 60% of the buyers must have incomes not greater than 80% AMI)
  • recommended total project costs of at least $3.5M
  • must bring leverage funding to the project (approx. 2/3 total project costs)


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

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.

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

average cost per home

average price per home

for homebuyers earning 80% AMI or below

average cost per home

average price per home

for homebuyers earning 80% AMI or below

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

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Provide description and amount for each.

A minimum of 20% of homes in NMTC-funded projects must be sold to low-income buyers (buyers with incomes at or below 80% AMI). What percent of homes of this project do you estimate will be sold to low-income buyers?

How long do you expect your construction period to be?

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

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

Describe the neighborhood where the project is located, including information regarding race, ethnicity, historic disinvestment, and any additional factors that contribute to the need for affordable homeownership opportunities, and any other compelling information about the community:

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

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

Does your organization directly provide support services to homebuyers, such as pre/post financial counseling, homebuyer education, or realtor services? If so, please describe your 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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Describe any strategies employed to maintain permanent affordability of the project’s homes (i.e. shared equity, community land trust model, etc.).

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/what-is-smart-growth/

Is this project part of a specific, named community plan? If so, please provide the name of the plan, web address, and relevant details. If available, please upload a copy of the plan below.

Include Community Plan documents described above, project budget/proforma, and project drawings or images as appropriate.

Drag and drop files here or

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

Does this project focus on communities of color or BIPOC homebuyers? If yes, explain.

Is the organization’s leader or is a majority of the board person(s) of color?

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Does the organization’s leader or a majority of the board identify as a woman/women?

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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?

Please share any additional compelling qualities of this project that have not been included in prior responses.

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Is your organization a member of The Housing Partnership Network or NeighborWorks America or both?

Click the SUBMIT button to complete this intake form.

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


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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