The Multifamily Finance Division of the Texas Department of Housing and Community Affairs (TDHCA) would like to remind applicants of the prioritization of multifamily applications submitted under the 4% LIHTC and 9% Competitive LIHTC programs. On March 1, 2019, TDHCA received applications under the 9% Competitive LIHTC program and is required under Tex. Gov’t Code Section 2306.6724(f) to make all awards under this program no later than July 31. Due to the statutory deadline associated with the processing and reviews of these applications, they will be prioritized over applications submitted under the 4% LIHTC program over the next several months.
Section 11.201(6)(B) of the 2019 Qualified Allocation Plan states the following: “In general, any non-Competitive Housing Tax Credit Applications received during the competitive tax credit round that include a request to be placed on the May, June or July Board agendas will not be prioritized for review or underwriting due to the statutory constraints on the award and allocation of competitive tax credits. Applicants are advised to keep this in consideration when planning the submission of an Application and issuance of the Certificate of Reservation. Should an Applicant submit an Application regardless of this provision, the Department is not obligated to include the Application on the requested Board meeting agenda and the Applicant should be prepared to be placed on a subsequent Board meeting agenda.”
Questions may be addressed to Teresa Morales, Manager of Multifamily Bonds at teresa.morales@tdhca.state.tx.us or 512-475-3344.
