The Nebraska Investment Finance Agency has made available the selection criteria for its Tax Credit Assistance Program (TCAP) provided through the American Recovery and Reinvestment Act. NIFA will evaluate and award applications based on the following three priorities:

  • Priority will be given to projects that are expected to be completed within 3 years from the date of the ARRA enactment. Therefore, projects must demonstrate the ability to expend at least 75% of their TCAP award by December 31, 2010 and place the project in service by no later than February 16, 2012;
  • Priority will be given to projects that target lower rent levels and/or particular distressed populations, such as special needs, homeless, veterans, workforce housing, elderly, etc; and
  • Projects will be evaluated and prioritized based on NIFA’s underwriting criteria as outlined in the 2009 LIHTC Qualified Allocation Plan.

NIFA will accept public comments until May 22.
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