The 2018 TCAC competitive applications have been revised to correct:

  • Threshold basis limits:  The 2018 threshold basis limits replace the 2017 limits.
  • Final Tie Breaker (FTB):  The FTB calculation requires a number to be inserted into the cell labeled “Number of Years in the Subsidy Contract” even in cases where the project has no subsidy.  To correct for this, TCAC staff has inserted a “1” in this cell.  Applicants with subsidies can insert the correct number in this cell, all others should leave a “1” in this cell to enable the FTB to calculate.
  • Hybrid FTB:  The calculation has been corrected to remove the 4% Total Basis Reduction and 4% Requested Unadjusted Eligible Basis cells.  TCAC has corrected the calculation for hybrid cost and basis to include only the 9% component.

The updated applications are dated as: January 29, 2018 version. Please use the most recent version of the 9% and 4% + state credit applications, available on the TCAC website:  2018 Applications and Attachments