In preparation for the 2023 competitive Housing Credit funding round, Kentucky Housing Corporation (KHC) has updated the Multifamily Guidelines for the 2023-2024 program years. Any revisions to the guidelines are highlighted so that applicants will know what has changed from the 2022 version.
The Universal Funding Application for the 2023 LIHTC funding round will be available on May 13 and is due by noon ET on September 15. The Development Team Capacity Application is currently open and will be due no later than July 18. Development team members previously issued capacity approval letters from KHC should check the duration of the pre-approval to determine if they are required to complete the Development Team Capacity Application in 2022.
For this application, the following funding sources have been set aside to blend with Housing Credits: HOME Investment Partnerships Program (HOME) – $1 million, Affordable Housing Trust Fund (AHTF) – $1.5 million and National Housing Trust Fund (NHTF) – $1 million. In addition, HOME-ARP funding appropriated by the American Rescue Plan will be made available to permanent supportive housing projects applying in the Nonprofit Permanent Supportive Housing (PSH) Pool. KHC’s predevelopment loan product is also available.