The Massachusetts Department of Housing and Community Development (DHCD) has amended its Tax Credit Exchange Program guidelines, effective September 25, 2009. Changes to the guidelines include to:
- Modify the limit on the amount of Exchange funds awarded to each project to 85% of the qualified basis, from 85% of the eligible basis amount including any basis boost.
- Note that the U.S. Treasury made a number of clarifications with respect to its Q&A document for the Exchange program and released a revised version.
