2025 Maryland Qualified Allocation Plan (QAP) and Multifamily Rental Financing Program Guide (Guide) – Effective 1/23/25
Governor Wes Moore signed the 2025 Qualified Allocation Plan (QAP) and the Multifamily Rental Financing Program Guide (Guide). The new QAP and Guide are effective as of Jan. 23, 2025 and will govern all applications received on or after this date. The 2025 QAP may be accessed through the Multifamily Library on the Department’s website.
The new QAP and Guide reflect changes made in response to the comments received from a large number of stakeholders.
2025 Competition for LIHTCs and Rental Housing Funds: Round Deadline
Applications for the 2025 Competitive Funding Round are due by Friday, May 9, 2025 at 2:00 PM, DHCD requires one (1) electronic and one (1) hard copy of the application. Hard copy applications must be delivered to the mailroom on the ground floor of 7800 Harkins Road, Lanham, Maryland 20706. The 2025 Competitive Funding Round will be governed by the 2025 QAP and Guide, both of which are dated Jan. 23, 2025 and available on the DHCD website.
Electronic submissions must be uploaded through DropBox. To streamline the submission process, DHCD has created the Electronic Submission Package Request form to request a DropBox folder for each project.
The electronic copy should be clearly tabbed so that a reviewer may easily find the necessary materials, and the files should not be scanned versions of the printed materials. CDA Form 202 must always be uploaded as an Excel document.
Note: All applications for DHCD multifamily financing must be submitted using the online version of the CDA Form 202 accessible via the DHCD Portal at www.dhcd.maryland.gov. To receive an account username and password for accessing the DHCD Portal, please email your request to dhcd.rentalhousing@maryland.gov.
Pre-Round Information Session
DHCD will hold a virtual Pre-Round Information Session on March 18, 2025 from 10 a.m. to 12 p.m. via video conference. At this session, DHCD will discuss resources available for the Round, explain changes to the QAP and Guide or process, and provide an opportunity for questions and answers. Please email dhcd.qap@maryland.gov if you have any questions you would like addressed during the Information Session presentation.
You can join the pre-round information session using the video call link or call in using the information below:
PHONE: +1 516-888-6305
PIN: 349 614 904#
Updated CDA Form 202 and Submission Packages
A new CDA Form 202 and submission packages to reflect the new 2025 QAP and Guide will be posted in the Multifamily Library on the Department’s website within the next two weeks. A Multifamily Notice will be sent out when the updated documents are posted.
LIHTC Equity Raise-Up Rate
The Tax Credit raise-up rate to be used in scoring the Leveraging Category (Section 4.5.1) will be $0.90 cents.
Interest Rate
For the 2025 Competitive Round, applicants are still required to submit letters of intent, per section 3.6 of the Guide, but applications should assume a 6.5 percent interest rate for first-lien debt calculations, regardless of any quoted interest rate that may be indicated in the letter of intent.
Round Resources
Applicants may request up to $2 million in Rental Housing Financing Program funds (RHFP), including Partnership Rental Housing Program funds (PRHP), per project.
Updated Construction Cost Limits
Per Section 4.5.3 of the Guide, Construction or Rehabilitation Costs, the applicable Maximum Construction Costs per Square Foot have been reviewed and remain the same. They are as follows:
Maximum Construction Cost per Gross Square Foot (February 2025)
| Type of Building | New Construction | Rehabilitation |
| Cottage, Single Family, Semi-detached Dwellings, and Townhomes | $271 | $277 |
| Garden Apartments | $227 | $173 |
| Non-elevator Stacked Units and Elevator Buildings with 4 stories or less | $246 | $202 |
| Elevator Buildings of 5 or more stories | $271 | $210 |
