In preparation for the 2025 competitive Housing Credit funding round, Kentucky Housing Corporation (KHC) has updated the Multifamily Guidelines for the 2025-2026 program years. Any revisions to the Guidelines are highlighted so that applicants will know what has changed from the 2024 version. KHC also published the underwriting model for 2025 nine percent LIHTC and non-credit projects.
The Universal Funding application for the 2025 Housing Credit funding round will be available on May 15, 2024, and is due by noon ET on Aug. 15, 2024. The Development Team Capacity application is currently open and will be due no later than June 17, 2024. Development team members previously issued capacity approval letters from KHC should check the duration of the pre-approval to determine if they are required to complete the Development Team Capacity application in 2024.
For this application, the following funding sources have been set aside to blend with Housing Credits: HOME Investment Partnerships Program (HOME): $1 million; Affordable Housing Trust Fund (AHTF): $1 million; and National Housing Trust Fund (NHTF): $1 million. KHC’s predevelopment loan product is also available.
All questions related to the QAP, Multifamily Guidelines, scoring workbook, development team capacity application or upcoming competitive application must be sent via email to multifamily@kyhousing.org.
