The California Tax Credit Allocation Committee (TCAC) sent an email to remind 4% non-competitive applicants that those applications no longer require a Local Reviewing Agency (LRA) evaluation. The TCAC application fee is now $1,000. TCAC asks applications to not send TCAC applications to the LRA.
4% LIHTC Tag Archives
The Oklahoma Housing Finance Agency (OHFA) is hosting a Multi-Family Bond & 4% Tax Credit workshop on Jan. 30 from 3-4:30 pm, CST at its office (100 Northwest 63rd Street Will Rogers Conference Room Oklahoma City, OK 73116). The training is free, but seating is limited, and registration is required.Read More
The Multifamily Programs office of the Tennessee Housing Development Agency (THDA) sent an email providing several updates on its activities. THDA has yet to publish its 2019 Multifamily Tax-Exempt Bond Authority (MTBA) and Competitive Low Income Housing Tax Credit applications but wrote that they are under development and should be available soon.Read More
House Ways & Means Chairman Kevin Brady (R-TX) has announced he has completed a draft tax measure to fix the “retail glitch” in the new tax law and address many tax extenders. The draft measure is expected to be circulated in the next few days. It is unclear at time of press whether any affordable housing, historic rehabilitation or New Markets Tax Credit provisions are included in Chairman Brady’s draft, which is said to include between 70-80 alterations to last year’s the tax law, HR 1. The measure is a potential vehicle for several NH&RA priorities including fixing the 4 percent LIHTC rate, basis adjustment provisions for the historic credit and an extension of the NMTC, which is set to sunset next year. We will update this story as it develops.
The amount requested is not limited. However, proposals will be reviewed for cost reasonableness, the need for gap funding, and other underwriting and subsidy layering criteria. The application deadline is October 17.Read More
The Gap Financing Program NOFA is designed to improve MSHDA’s direct-lending production and to assist with being able to finance tax-exempt bond transactions utilizing the 4% Low Income Housing Tax Credit.Read More
The TCAC 2018 applications and attachments for 4% non-competitive projects are available on the TCAC website:
The treatment of purchase price in excess of appraised value as presented in the application is expected to be revised. Applicants for the March Committee meeting may use the current 2018 application. TCAC will send a subsequent notice if changes are made to the 4% application template.
The 9% competitive and 4% competitive Excel applications are currently being revised. Staff expects these to be available the week of January 15th. TCAC will send a subsequent notice when this documentation is available.
For general application questions contact the appropriate regional analyst: http://www.treasurer.ca.gov/ctcac/assignments.asp
For technical questions or issues related to the Excel application please contact Zhuo “Jewel” Chen at: email@example.com
For more information visit our website: California Tax Credit Allocation Committee.
A new analysis conducted by the law firm Norris George & Ostrow, PLLC and shared with a number of Senators and Congressional Representatives finds that the elimination of Private Activity Bonds (PABs) proposed in HR 1 would reduce affordable housing production by as much as 75,000 units per year or about 60% of the nation’s annual affordable housing production.Read More