An updated version of the LIHTC Program Application, which should be used for application submission in the October 1, 2015 funding round, has been posted to the MSHDA website. The update made the following adjustments:
- A question was added to tab I. Income in order to gauge interest in the Section 811 Project Rental Assistance program. This question is just being used for information purposes and does not have any impact on the scoring of projects.
- Tab N. Credit Calculation was updated to calculate the 10-Year Value of Credit based upon the lesser of Total Annual Eligible Credit and Credit Requested.
- An extra line was added in tab P. Cash Flow to ensure proper cash flow of $250 per unit cash flow for projects without hard debt. This is consistent with MSHDA’s underwriting standards.
Additionally, please note that comments on how to improve the LIHTC Program Application to make it more user-friendly are welcomed and will be considered in future application updates.
As outlined in Section G.1 and Section G.2 of the Scoring Criteria, the data used to determine the safe harbors within the Cost Containment and Credit Efficiency sections of the Scoring Criteria has been updated to reflect the rolling total of the previous five years, as new data is now available following completion of the April 2015 funding round.
The updated forms can be found on the Combined Application page of the MSHDA website.
