Qualified Allocation Plans

TCAC intends to allow applicants in the first round of 2016 to claim DDA status if the project is located in an area that will be considered a DDA after June 30, 2016, provided that the carryover allocation occurs after June 30. For 9% tax credit applications located in areas that will lose DDA status on June 30, 2016, the TCAC regulations grandfather in DDA status for these projects for one year.

With the increase in the credit rate from the floating rate of 7.51% (January 2016) to 9%, WHEDA will be reducing the maximum basis boost that may be requested in a competitive LIHTC application.

The Texas Department of Housing and Community Affairs has posted to its website a list of Frequently Asked Questions (“FAQ”) posed by Applicants for Competitive (9%) Housing Tax Credits.

An estimated $2,185,789 of Competitive Housing Credits and an estimated $1,100,000 in grant funding will be made available through this RFA.

The public hearing will take place on Thursday, January 14.

OHCS will accept comments on the 2016 Draft Qualified Allocation Plan from January 11 through February 10, 2016. A Public Hearing on the 2016 Plan will be held on Tuesday, February 2, 2016 from 2:00 p.m. to 4:30 p.m.

Recipients of 2015 Housing Tax Credit allocations will utilize the 2015 DDA or 2015 QCT designations or the state designations listed in 2015 Basis Boost Policy in the 2015 QAP. Applicants seeking 2016 Housing Tax Credits will utilize the 2016 DDA and QCT designations. 4% Housing Tax Credit applicants whose bonds are issued and building is placed in service on or after July 1, 2016 will utilize the 2016 DDA and QCT designations.

All applicants must submit Initial Application items to AHFA beginning Wednesday, February 10, 2016 at 9:00 a.m. CST and ending Thursday, February 11, 2016, at 5:00 p.m. CST. Final Applications for the Housing Credits and HOME Investment Partnerships Program funds will be accepted beginning Wednesday, March 9, 2016 at 9:00 a.m. CST and ending at 5:00 p.m. CST on Thursday, March 10, 2016.

The Connecticut Housing Finance Authority sent out a reminder that Housing Tax Credit Contribution Applications are due February 1, 2016. All applications must be submitted through SharePoint no later than 4:00pm that day.

Texas Department of Housing and Community Development will host a Multifamily Training on February 2-3, 2016.

The draft will be presented to the Housing Stability Council on Friday, January 8, 2015. If the Housing Stability Council approves, OHCS will open a formal, 30-day, public comment period.

Alabama Housing Finance Agency released the state’s final 2016 Qualified Allocation Plan. The 2016 AHFA Multifamily Funding application has not yet been released.