Have you ever heard the abbreviation "QAP" in a housing meeting and wondered what it means? It is the Qualified Allocation Plan (QAP), which outlines the priorities and guidelines that the Ohio Housing Finance Agency (OHFA) uses to administer the federal low-income housing tax credits. Whether it's the 9% competitive awards that are announced in May or the 4% non-competitive awards that are awarded throughout the year, the QAP outlines the program guidelines, minimum project requirements, underwriting criteria, and more.
The QAP is developed by OHFA staff every two years using data from the Housing Needs Assessment, assessing current market conditions, and receiving comments from housing industry stakeholders and the public. The goal is put together a QAP that will encourage the development of affordable housing that will meet Ohio's needs. OHFA works diligently to ensure housing is created across the state and focuses on the types of housing that our communities need.
Minor updates are made to program guidelines and priorities in the second year of the QAP based on market dynamics and Ohio's changing housing needs. For instance, if in the first year of the QAP, there are many applications for family housing, OHFA may adjust the QAP in the second year to focus on affordable housing for seniors.
Right now, OHFA staff is drafting the FY 2024-2025 QAP. Meetings are taking place with various stakeholders and research is being conducted to identify Ohio's key affordable housing needs. You can review the previous QAPs on our website. If you would like to provide comments and suggestions for the FY 2024-2025 QAP, you can send them to QAP@ohiohome.org. OHFA staff will continue to take comments throughout July 2023 and present a final draft of the QAP in September.