The Tennessee Housing Development Agency (THDA) Board of Directors has approved an additional $100 million of 2020 Multifamily Tax-Exempt Bond Authority (2020 MTBA). For your convenience the summary can be found here. The current available MTBA as of March 30 can be found here.
4% LIHTC Tag Archives
Ohio Housing Finance Agency’s (OHFA) draft 2020 Bond Gap Financing (BGF) program guidelines are now available. The BGF program is geared toward developers using non-competitive (four percent) credits in conjunction with multifamily bonds. Comments on the draft guidelines can be sent to QAP@ohiohome.org and will be accepted through April 24, 2020.Read More
Illinois Housing Development Authority (IHDA) will now accept four percent LIHTC on a rolling basis for the second and third quarters of 2020. Quarterly application deadlines will resume October 1, 2020.Read More
The ACTION Campaign, of which NH&RA is a member, sent this letter to Congress with housing related requests to include in the COVID-19 pandemic response legislation. The statutory requests include:
Immediate one-year extension for three key deadlines:
10 percent test deadlines
Placed in service deadlines
Rehabilitation expenditure deadlines
Enact a minimum four percent LIHTC rate
The Georgia Department of Community Affairs (DCA) announced that it is no longer accepting applications for tax exempt bonds and four percent LIHTC transactions after determining that the current four percent bond pre-applications in the underwriting pipeline exceed the 2020 bond cap. By the end of 2019, DCA received 67 pre-applications for four percent LIHTCs under the 2019 QAP, most of which are currently under review and have not yet booked their bond allocation (19 out of the 67). The remaining 48 are estimated to utilize $756 million of the 2020 bond cap
The 2020 nine percent LIHTC application materials are now available on the Illinois Housing Development Authority’s (IHDA) website in the Developer Resource Center. Please be sure to review the FAQs included with the documents. Applications must be submitted though the multifamily portal by 5:00 pm CT on March 23, 2020.Read More
The California Tax Credit Allocation Committee (TCAC) and California Debt Limit Allocation Committee (CDLAC) have focused on the process for determining which applicants to recommend to their respective boards to receive both State Tax Credits and bond allocation in rounds where State Tax Credits are oversubscribed and bonds are competitive. While in the first instance a successful applicant must receive an award from both, in the few cases where the result would differ depending on which list one starts with, TCAC and CDLAC have determined that in such cases they will start with the TCAC list. By using this process, they expect to maximize the number of affordable units funded in this round.
On the one year anniversary of Microsoft’s $500 million investment in affordable housing, the company announced an additional $250 million investment in affordable housing. The new investments will be placed with the Washington State Housing Finance Commission to allow them to bridge tax-exempt bond cap as well $50 million to seed the new Evergreen Housing Impact Fund.Read More
The Colorado Housing and Finance Authority (CHFA) invites partners and stakeholders to a conversation about Private Activity Bonds (PAB) and the development of affordable multifamily housing in Colorado.Read More
The Florida Housing Finance Corporation will resume the processing of the Non-Competitive Applications seeking corporation-issued Multifamily Mortgage Revenue Bond Program (MMRB) on January 22, 2020.