The Wisconsin Housing and Economic Development Authority has released its underwriting criteria for 2010 low-income housing tax credit (LIHTC) program applications. The document establishes the following requirements:
- Credit pricing between $0.63 and $0.68, unless a firm pricing commitment is provided;
- Minimum 1.175 debt-coverage ratio (DCR);
- Operating expense ranges for family ($400-$450 per unit per month) and elderly developments ($365-$410 per unit per month);
- Six-month operating reserve minimum;
- Replacement reserve increases for family ($250-$300 per unit per year) and elderly developments ($200-$250 per unit per year).
