The Kentucky Housing Corporation (KHC) has issued a notice saying it will be revising its 2010 qualified allocation plan (QAP) for its low-income housing tax credit program to ease current difficulties in developing multifamily housing, including the difficulty in securing equity secure investors, insufficient gap financing, the uncertainty surrounding proposed federal legislative changes, and other developer concerns. Revisions will include to:
- Extend the 2010 credit application deadline to February 19, 2010;
- Extend the deadline for projects to obtain firm funding commitments;
- Relax the threshold requirements for equity commitments; and,
- Provide a site evaluation form to be completed instead of requiring a site review.
