The Utah Housing Corporation recently made available its draft 2010 qualified allocation plan (QAP) for administering the low-income housing tax credit (LIHTC) program. The plan establishes guidelines and scoring criteria for awarding tax credits through Utah Housing Corporation, and sets application and awards deadlines for the program. Significant changes to the proposed 2010 QAP include:
- Incorporates a new section to provide guidelines on tax credits for tax-exempt bond projects. This section sets forth the criteria and process of applying for and receiving 4% housing credits.
- Establishes criteria and processes for disqualification of an application.
- Incorporates criteria for subordination and documentation revision fees.
- Delineates a subsection on scoring discrepancies.
- Clarifies the scoring makeup and criteria.
Eligible projects must submit complete applications by February 1, 2010. Read More…
