LIHTC

NH&RA News

RAD and Its Current and Projected Consumption of LIHTCs

In a new CityScape article, Alex Schwartz of the New School and Kirk McClure of the University of Kansas explore how the RAD program can “consume” LIHTCs.

QAP Kentucky

Applications for Kentucky’s Nine Percent LIHTC Due Aug. 19

The Universal Funding Application (UFA) for the 2022 nine percent LIHTC funding round is currently available with applications due by noon ET on August 19.

QAP Wisconsin

Wisconsin Innovation Housing LIHTC Set-Aside

The Wisconsin Housing and Economic Development Authority (WHEDA) is encouraging developers with innovative affordable housing projects designed to spark community revitalization and promote resident well-being to apply for nine percent LIHTCs through the innovation housing set-aside between now and September 3.

Member News

Hunt Closes $6.4 Million LIHTC, $2.4 Million in HTCs in Louisiana

Hunt Capital Partners announced it has closed $6.4 million in Low Income Housing Tax Credit equity and $2.4 million in state and federal Historic Tax Credit equity for the construction of 48 multifamily housing units in a new building plus 18 additional units in the adaptive reuse of a historic building in Monroe, LA, which dates back to 1929.

QAP Texas

Texas Posts 2021 Nine Percent Applicant List; NOFAs Account for Increased Construction Costs

The Texas Department of Housing and Community Affairs (TDHCA) posted a list of 2021 nine percent LIHTC Applications that are eligible for an award of tax credits for the 2021 program year. Developers with an appealable interest as a result of changes to the Application List posted on the TDHCA website, should submit a written appeal to the Department by close of business on June 30, 2021, to allow the matter to be considered by the executive director and potentially presented to the Governing Board at the meeting scheduled for July 8, 2021. 

QAP Ohio

Ohio Offers Additional Nine Percent LIHTCs, Loans from Rising Construction Costs

The Ohio Housing Finance Agency is making additional nine percent LIHTCs and Housing Development Loan (HDL) funding available to 2019 and 2020 LIHTC deals struggling with increase construction costs. 

QAP California

California Updates Nine Percent Application

The California Tax Credit Allocation Committee updated its nine percent LIHTC application for the second competitive round

Illinois

Illinois Requires Use of Income-Approach in LIHTC Assessments in Cook County, Extends State LIHTC through 2026

The Illinois state legislate passed the COVID-19 Affordable Housing Grant Program Act (HR 27252), which would require that LIHTC properties in Cook County be assessed using the income-approach, as well as a new property tax incentive policy that would provide reduction in assessed value for both subsidized and market-rate owners that provide affordable units. The omnibus legislation also extends the Illinois State LIHTC through 2026. A full summary of the bill’s provisions is available here from the Illinois Housing Council.  

Member News

Hunt Capital Partners Closes on Tax Credit Equity Financing in Milwaukee

Hunt Capital Partners and developer Royal Capital Group will use $13.1 million in tax credit equity for the rehabilitation and adaptive reuse of an old school dating to 1902 plus the addition of adjacent new construction to create 82 units of multifamily housing, Hunt said in an announcement. Both Federal Low Income Housing Tax Credits and Federal and State Historic Tax Credits have been allocated for the project.

Member News

Red Stone Closes Its Largest-Ever LIHTC Fund

Red Stone Equity Partners LLC announced the closing of Red Stone Equity – Fund 84 Limited Partnership (Fund 84), a $207-million multi-investor Low Income Housing Tax Credit (LIHTC) investment fund.

congress-capitol

AHCIA Introduced in House, Senate

Senators Maria Cantwell (D-WA), Rob Portman (D-OH), Ron Wyden (D-OR) and Todd Young (R-IN) along with Representatives Don Beyer (D-VA), Suzan DelBene (D-WA), Jackie Walorski (R-IN) and Brad Wenstrup (R-OH) introduced the Affordable Housing Credit Improvement Act of 2021 (AHCIA).

HUD

HUD Posts FY2021 Income Limits

HUD released the median family incomes and income limits for Fiscal Year (FY) 2021. Median incomes are used as the basis for income limits in several HUD programs, including the Public Housing, Section 8 Housing Choice and Project-Based Voucher, Section 202 housing for the elderly and Section 811 housing for persons with disabilities programs, as well as in programs run by agencies, such as the Department of the Treasury, the Department of Agriculture and the Federal Housing Finance Agency.

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