Kentucky Housing Corporation reminds owners of multifamily housing projects that received an allocation of 2021 LIHTC that the project must meet the carryover requirements in accordance with the 2021-2022 Multifamily Guidelines. Project owners must submit all LIHTC carryover documentation on or before November 19, through the Universal Funding Application system. Projects that have not met the ten percent costs incurred test may request an additional 12-month extension to meet this requirement. Once this documentation has been received and approved, KHC will issue a Certificate of Carryover Allocation.
Owners of multifamily housing projects that received an allocation of LIHTCs in 2020 and received a preliminary Certificate of Carryover Allocation are reminded that in order to complete the carryover process, you must submit evidence of having incurred more than ten percent of total project costs within 12 months from the date of your allocation. Failure to submit the ten percent test within the required time frame will result in the loss of the credit allocation. This document must be emailed to both Shawn Dyer and Diane Beidleman by November 19. If you have any questions regarding the carryover process, please contact sdyer@kyhousing.org or dbeidleman@kyhousing.org toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 762 or 368 respectively.
