Kentucky Housing Corporation (KHC) recently released the final draft of its 2014 Multifamily Finance Guidelines, which governs the competitive funding process for several federal and state resources to enable the development and rehabilitation of safe, affordable housing. More specifically, the guidelines instruct applicants how to apply for funding from the HOME Investment Partnerships (HOME) program, Affordable Housing Trust Fund (AHTF), Small Multifamily Affordable Loan (SMAL) program, and KHC’s risk sharing program. The document does not specifically govern the Low-Income Housing Tax Credit (LIHTC), but rather the use of the aforementioned programs for LIHTC projects and non-LIHTC projects. The agency also notes that if there are any inconsistencies between the requirements in the 2014 Qualified Allocation Plan (QAP) and the 2014 Multifamily Finance Guidelines, the QAP requirements will prevail for all LIHTC applications. KHC expects to open the 2014 funding round for multifamily resources in September 2013. Questions about the Multifamily Guidelines should be submitted to Andrew Hawes at (502) 564-7630, extension 326; TTY 711; or by e-mail to ahawes@kyhousing.org.
Click here to view the final draft of KHC’s 2014 Multifamily Finance Guidelines.
