The West Virginia Housing Development Fund modified its 1040 form to correct the per unit credit limits. The pre-registration forms for nine percent LIHTCs are due by April 15. Please read and follow all these important reminders prior to submission of your Pre-Registration form(s):
- The pre-registration form contains several drop-down lists, which must be utilized. Be certain to fill this form out and submit in Excel.
- The pre-registration form must be completed for each property an applicant intends to apply for credits in 2020, regardless of whether the credits are requested from the State Housing Credit Ceiling or outside (Tax-Exempt Bond Financed Properties). If a pre-registration form is not submitted by the specified dates or timeframes listed in Exhibit A of the 2021 and 2022 Tax Credit Manual, such property will not be eligible to apply for Credits in 2021.
- There is a limitation on the number of pre-registration forms that can be submitted for any developer or owner. See pages 37-38 of the 2021 and 2022 Tax Credit Manual for details.
- If a developer or general partner goes over the number requested, the Fund will not accept those subsequently submitted pre-registration forms.
- Be especially careful when partnering with other persons or entities as co-developers or co-general partners to ensure that the limit is not exceeded.
- Due diligence should be taken when partnering with other persons or entities as co-developers or co-general partners.
- All planned General Partners, co-developers, and consultants must be listed on the Pre-Registration form. Note: Not all Principals of these participants should be listed – only the entity, if applicable, and a contact person for the entity.
