For Housing Tax Credit Program participants, Ohio Housing Finance Agency offered the following guidance:
Recipients of 2015 Housing Tax Credit allocations will utilize the 2015 DDA or 2015 QCT designations or the state designations listed in 2015 Basis Boost Policy in the 2015 Qualified Allocation Plan (QAP) on page 24.
Applicants seeking 2016 Housing Tax Credits will utilize the 2016 DDA and QCT designations since the final applications will be submitted and allocations of credit will occur after June 30, 2016. The 2016 Basis Boost Policy is located on page 27 of the 2016-17 QAP.
4% Housing Tax Credit applicants whose bonds are issued and building is placed in service on or after July 1, 2016 will utilize the 2016 DDA and QCT designations. If bonds are issued or building placed in service prior to July 1, 2016, then the applicant must use DDA and QCT designations effective at that time.
OHFA recommends viewing Novogradac’s 2016 DDAs and QCTs: What You Need to Know Webinar for an overview of the new DDA and QCT designations and their implications for the next tax credit allocation cycle. Also, please review the Federal Register for more information regarding methodology and effective dates.
If you have questions about HUD’s 2016 DDA or QCT designations, please send an email to 2016QAPMailbox@ohiohome.org .
*DDAs are delineated by Zip Code Tabulation Areas (ZCTAs), not Zip Codes, and there are ZCTAs where only a portion of the ZCTA is in a DDA. As such, it is very important to check the address of your property to determine whether or not it is actually in one of the newly designated DDAs.
