The Wisconsin Housing and Economic Development Authority has announced two significant changes with regards to the administration of the Tax Credit Assistance Program (TCAP) and the Section 1602 Tax Credit Exchange Program, provided by the American Recovery and Reinvestment Act. 

  1. In order to maximize LIHTC equity investment in Wisconsin, WHEDA intends to use a portion of remaining Exchange proceeds to fund “TCAP-like” awards to eligible developments that have attracted LIHTC investor interest but require gap financing due to falling prices.
  2. WHEDA has announced a second round of Exchange program funding for struggling LIHTC developments that have demonstrated an inability to attract equity investment.  The application deadline for this second Exchange funding round is November 10, 2009.

 Additional requirements and guidance for the changes are provided through WHEDA’s website. Read More…