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The criteria apply to the entire project. If an application only needed loan funds for one side (e.g. just the 9% side), then only those units would be scored. If an applicant plans to apply the loan funds to the entire project, then the criteria apply to the entire project.
Because Loudoun County issues the Requests for Proposals (RFP) for PBVs in the fall, developers should apply in the fall prior to their 9% application submission, following the timeline laid out in the RFP.
The County is always looking for affordability and diversity of housing, including units for single person households and for family households in the County. The scoring criteria awards points for entry-level worker units of 1 bedroom or studios.
Yes. The application guidelines require that zoning approval, including special exception, that demonstrates that the proposed development is a matter of right is included as part of the application.
The County does not require Davis Bacon wages on its own; if they apply to projects, it is because of other funding sources being used in the project.
For the scoring criteria, if an element of the criteria is not fully met, partial points will be given.
Each criterion is treated separately. If a project has 100 units and 20 units are for seniors and 20 units are accessible for people with disabilities, the application would receive full points for each criterion, even if the units overlap.
This term refers to the entity overseeing the development of the project to completion/occupancy.
Off-cycle applications will only be considered for “time-sensitive third-party acquisition”, which for the purposes of the Program means real estate currently listed on the open market, or to be listed on the open market in the immediate future.
Ground lease as a form of ownership is an issue that the Board would need to consider in its review of a project’s application.