Tennessee Housing Development Agency recently released the following information:

THOMAS has hit the big time with his own email!

If you have questions about THOMAS, the new online application system, please send THOMAS an email at THOMAS@thda.org. Meanwhile, frequently asked THOMAS questions are posted on the Multifamily Programs webpage.

Notes to review before pressing send on your competitive housing credit application!

Competitive housing credit applicants should review the following guidelines before submitting their application.

  1.        THDA will restrict equity pricing to $0.85 this year in our financial underwriting.  For applications which require a higher pricing to determine financial feasibility, supporting documentation from your equity provider will be necessary.
  2.        THDA will underwrite initial applications without evidence of a PILOT at the full taxable amount.  If the property currently has a PILOT, please submit the PILOT into THOMAS as requested.
  3.        THDA will review applications for compliance with Total Development Costs per Total Unit Limits, as described in the 2018 QAP-Part IV:  Limits on Amount of Tax Credits Available, Section E:  Total Development Costs per Total Unit Limit.  Make sure your application meets these restrictions.
  4.        Please make sure you understand the elements of the Sponsor and PHA Sponsor Characteristics which are improved in the 2018 QAP.  These parameters are detailed in Part VII:  Initial Application Eligibility and Scoring, Section B:  Scoring Initial Applications, 3:  Sponsor and PHA Sponsor Characteristics.