The Board of Directors of the Tennessee Housing Development Agency (THDA) approved increases to per development limits for LIHTC properties from $1.3 million to $3 million and to per development limits for Multifamily Tax-Exempt Bond Authority (MTBA) properties from $25 million to $43 million. The Board also approved a motion that would set a maximum of 34 percent of the total MTBA to be available to a developer in one year, beginning in July 1, 2019. This last motion in contingent upon receiving approval from the Tennessee Department of Economic and Community Development for an additional $100 million in bonds for multifamily housing.