Tennessee

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:

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

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.  

THDA will hold one additional application workshop for this funding opportunity. Date, location, and times shown below. Interested organizations are strongly encouraged to attend the application workshop. If you are interested in attending, please RSVP no later than January 18, 2019 with the name of your organization and the number of attendees to blord@thda.org. January […]

Good afternoon Program Participants and Other Interested Parties, Stewart Rutledge just made us aware of a typing error in a sentence found in Section 12:  New Construction Regional Pools of the 2019-2020 Qualified Allocation Plan.  Thank you Stewart. The language in Section 12, Item C was accurate in the September 26, 2018 QAP version which […]

Good afternoon Program Participants and other Interested Parties, New and/or Updated Compliance Forms: Multifamily Programs has made changes to our required compliance forms. These modified forms can be found at  https://thda.org/business-partners/housing-credit-compliance. Household Income Certification (HIC HO-0420) This is the former Tenant Income Certification (TIC) A disclosure added to the Household Certification and Signatures section notifying […]

Good morning Program Participants and other Interested Parties, If you missed THDA’s Tax Credit Committee and Board Meeting on Tuesday, you missed productive and positive outcomes for THDA’s multifamily housing programs. You also missed some “fast footwork” on my part, but that is another story. Amendments to the 2019-2020 Low Income Housing Credit Qualified Allocation […]