In preparation for the 2020 program year and for those intending to submit applications for four percent Low-Income Housing Tax Credits (i.e. Tax-Exempt Bond Developments), the Texas Department of Housing and Community Affairs (TDHCA) reminds applicants of the Administrative Deficiency process relating to Tax-Exempt Bond Developments.
Pursuant to 10 TAC Sec. 11.201(7)(C) of the QAP, applicants will have five business days to satisfy an Administrative Deficiency. If, on the date following the fifth day there are still unresolved deficiencies, the Application will be suspended, and the applicant will have five business days to provide any outstanding items. If the outstanding items are submitted and resolved by the deadline noted in the suspension notice, the Application will continue to be processed.
However, if, on the date following the fifth day of the suspension there are still items outstanding, the Application will be terminated. If, following termination, an applicant still desires to move forward with the Application, the Department will require a completely new application, with all corrected deficiency items addressed in the re-submitted application, along with a new application fee, to be submitted. The re-submitted application will not be prioritized over other applications that are under review or were submitted prior to its re-submission.
Applicants are highly encouraged to ensure submitted applications meet the requirements and contain the information required by the 2020 QAP in order to avoid deficiencies that may take longer than the rule allows to be corrected.
For any questions relating to this provision contained in 10 TAC Sec. 11.201(7)(C) of the 2020 QAP, please contact Teresa Morales at [email protected].
