Last week, HUD published its annual list of areas that qualify as Qualified Census Tracts (QCTs) or Difficult Development Areas (DDAs) for LIHTC purposes. Properties in these areas are eligible for up to a 30 percent basis boost. HUD designates DDAs and QCTs each year. DDAs are areas with high development costs relative to area median gross income (AMGI). QCTs are census tracts with a poverty rate of at least 25 percent or in which 50 percent of the households have incomes below 60 percent of AMGI. These designations will take effect on Housing Credit allocations made after Dec. 31, 2023 or for tax-exempt bond-financed buildings placed in service after Dec. 31, 2023.
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