Secure Proposed Property with a Renewable Option to purchase: Renewable Options allow you the flexibility needed because of the varying lengths of the approval process.
Engage your Environmental Professional early: Provide your environmental professional with a copy of AHFA’s Environmental Policy Requirements.
Check the Property Zoning for the Proposed Property: Make sure the property is zoned for the proposed use. Review the applicable zoning ordinance(s) and provide the zoning requirements for the proposed project.
Check for Property Deed Restrictions: These may include Easements or Restrictive Covenants. Obtain approvals from the entity(ies) holding any restriction(s) on the proposed property prior to submitting your application.
Register in DMS Authority Online well in advance of application deadlines: Development team members can and should complete the registration process at any time in DMS (make sure to obtain and retain the Organization Code for each team member). Once your team is registered, you can affiliate your team members (using the Organization Codes) with your project application when the Application Cycle opens.
Keep Ownership Entities manageable: A large ownership structure creates additional opportunity for errors and may add additional costs to the application.
Review the Application for missing information or inconsistencies: Missing or incorrect information may result in additional fees or penalties.
Quality Control Review: Perform a quality control review of the threshold requirements listed in the Plans to ensure your application is eligible for an allocation of funds.
Ensure prior-funded Multifamily Properties stay in compliance: Penalty points for noncompliance may be assessed to your application.