Kentucky Housing Corporation (KHC) has made a revision to the recently published 2027 Multifamily Guidelines. The change appears in Chapter 8 and revises KHC’s construction draw policy. Previously, developers were permitted to draw up to 90% of KHC funds awarded to the project in the first draw request. The policy now limits the first draw to no more than 40% of the KHC funds awarded to the project and all subsequent draw requests must be made in accordance with the percentage of work completed as evidenced by KHC’s inspection report. This new policy is effective immediately and is applicable to any project with undisbursed KHC funds.
Questions about this policy change should be directed to [email protected].
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