The Wisconsin Housing & Economic Development Authority (WHEDA) has released a summary of changes to the 2012 LIHTC cycle made by the Emerging Business Program.
- Redefines program-eligible hard costs: demolition + site work + new construction / rehab + construction contingency + architectural & engineering, based on the initial LIHTC application;
- The workforce hiring goal for all 2012 LIHTC applications is reduced to 12 hires per LIHTC project;
- Owners will use the Section 8 income limits applicable to the workforce participant’s family size to determine eligibility for the Workforce Development Program;
- WHEDA may accept individuals who have been employed on a previous LIHTC project (assuming certain conditions are met);
- Best efforts should be made to hire military veterans to work on all Emerging Business projects;
- Owners may solicit bids for the general construction work, or their general contractors, subcontractors or suppliers may solicit bids for portions of the work on Emerging Business projects.
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