Tennessee Housing Development Agency (THDA) released their draft 2026 Multifamily Tax-Exempt Bond Program (MTBA).
- Access the draft 2026 MTBA program description here.
- Written comments can be sent to [email protected].
- TDC plans to submit comments and will circulate a draft for review. Please send your feedback on the draft 2026 MTBA program description to Ilana Morof for incorporation into our letter.
Substantive changes include:
- Three rounds in 2026
- East Bank Development Area Special Review (Up to $100 million)
- Changes to the rankings in subsequent rounds
- $98M combined maximum per developer in rounds one and two
- Implementing the new federal bond financed-by test: 40% of the development’s aggregate basis including land