The Tennessee Housing Development Agency (THDA) Board of Directors approved several changes to its 2019-2020 Qualified Allocation Plan (QAP) as well as its 2018 QAP. The amendment to the 2018 QAP allows LIHTC recipients that do not request a 2018 exchange allocation to request approval for income averaging. If approved, the right to a qualified contract is waived and a compliance fee of $1,200 per LIHTC unit must be paid. The Board also approved four changes to the 2019-2020 QAP:
Due to the city’s ongoing budget crunch, newly-elected Nashville Mayor John Cooper has proposed to cut funding in half for the Barnes Fund for Affordable Housing. The city faces an estimated budget shortfall of $41.5 million. Mayor Cooper indicated the city would only award $5 million in Barnes Fund Grants this year. The Barnes Fund […]
The Tennessee Housing Development Agency will host an information session on the 2020 Innovation Round on October 25 from 10:00 to 11:30 am CDT via webinar with access code 800-634-591. The 2020 Round has been divided into two themes: (1) Adaptive Reuse/Conversion in a Rural County and (2) Supportive Services for Special Housing Needs. Any […]
The Tennessee Housing Development Agency announced that there will not be a Special Tax Credit Committee Meeting this month. The next Tax Credit Committee Meeting will be September 24 in Chattanooga, TN. More information will be posted on the THDA website. THDA will publish the Preliminary Ranking to the website in September.
The Tennessee Housing Development Agency (THDA) allocated $500,000 to the 2020 Challenge Grant Program. Grant applications must be received before 4 pm CDT on August 8, 2019.
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 Tennessee Housing Development Agency (THDA) released draft Income Averaging (IA) Guidance. Comments are due by 9 am CDT on April 22 to TNAllocation@thda.org.
The Tennessee Housing Development Agency (THDA) along with its partners, the Tennessee Department of Economic and Community Development and the Tennessee Department of Health have posted a draft Annual Action Plan detailing guidance for the federal allocation of an estimated $50 million for housing and community development in Tennessee.
Nashville Mayor David Briley unveiled his 10-year housing plan, Under One Roof 2029. The initiative aims to create at least 10,000 new units by investing $750 million over the next 10 years in affordable housing in Nashville, with $500 million of that coming from the city.
2018 annual compliance reporting (Owner Annual Certification and Resident Data) is due Feb. 15 by 4:30 pm CT in the Housing Credit Management System. All extension requests must be submitted by a member of the ownership entity before the deadline.
Members of the Tennessee legislature are pushing a bill that would help ease housing affordability challenges in urban areas. The Affordable Rental Property Act would give tax breaks to property owners offering rents below a certain affordability threshold. These tax breaks would be available in areas that currently lack sufficient affordable housing and are specifically targeted towards […]
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.