Qualified Allocation Plans

The Excel version of the 2019-2020 LIHTC Program Application has also been updated. This update fixes some income averaging formulae, and also contains updated rents.

A total of $15,000,000 in tax credits per year are available from 2019 to 2023.

The National Development Council’s (NDC) Housing Development Finance Professional (HDFP) certification series will be held in Lexington, Kentucky at the Four Points by Sheraton Hotel.

The Housing Credit Geographic RFA Workshop to be held on August 9, 2018.

Given the importance of early notification of date changes, CHFA staff will continue to research opportunities to improve the 2020 LIHTC rounds and will communicate any changes by the end of 2018.

For reservations of tax credits received in or after 1997, unexpended reserve accounts must remain with the property for the benefit of the property or residents save for one exception, regardless of what a limited partnership agreement says.

Any project which has already executed a Low-Income Housing Tax Credit Covenant for LIHTC and wishes to amend the Covenant to incorporate the Income Averaging Set Aside prior to execution of IRS Form 8609 would need to receive approval from CD.

Improvements include expanded eligibility, reduced fees, and a streamlined application process.

This posting updates the award and waiting list published on Monday, July 23, 2018, to include information regarding underwriting reports completed since that posting. Applications identified as “Recommended” on the list were awarded HTC on Thursday, July 26, 2018.

The maximum per application request in all three set-asides has increased: $4 million for new construction and $3 million for rehabilitation under the General set-aside, $2 million regardless of the type of construction under the Supportive Housing/Soft Repayment set-aside, and $4 million regardless of the type of construction under the Community Housing Development Organization (“CHDO”) set-aside.

THDA is hosting an application webinar and workshop for the 2019 Fall Round of the Tennessee Housing Trust Fund Competitive Grants program on August 9 and 13. The content will be the same for both.

A Pre-Application Meeting for Multifamily Housing Programs has been scheduled for Tuesday, August 7, 2018 in Harrisburg.