Kentucky Announces 2019 LIHTC Awards

The Kentucky Housing Corporation (KHC) announced the awards for the 2019 LIHTC application round. KHC received 30 applications requesting more than $21 million in LIHTC and was able to fund 19 projects with $13,747,583 of 2019 LIHTC in conjunction with $2,140,000 from the HOME Investment Partnerships Program and $1,500,000 from KHC’s Affordable Housing Trust Fund (AHTF). This funding round supports the creation or preservation of 855 units of affordable rental housing in 18 counties in Kentucky.

KHC also announced a revised definition of income limits for its AHTF. Effective Jan. 1, 2019, the AHTF applicable income limit is the greater of either: 60 percent of Kentucky’s state median family income or 60 percent of area median income. These new limits will apply to all current and new AHTF-funded projects and retroactively to any AHTF-funded rental units with the exception of rental properties whose AHTF deed restriction mandates serving households at even lower income levels.