IHCDA recently announced that it will no longer accept any applications for new Development Fund loans. In accordance with the policy released in RED Notice 17-09 “IHCDA Response to Uncertainty in RHTC Equity Pricing,” the remaining available funds under the Development Fund have been reserved as a potential source to cover gaps that may exist in RHTC developments due to credit pricing uncertainty. Due to these reserved funds, as well as funding reserved for previously committed projects, the Development Fund is currently fully committed.
Another RED Notice will be issued when funds become available again.
