Low Income Housing Tax Credit (LIHTC) 4% - GA Department of Community Affairs

Sponsor Eligibility	Each Project Team must demonstrate the qualifications necessary to successfully own, develop and operate a proposed tax credit project.
Types of Projects Funded	New Construction Preservation
Affordability Requirements	15 year initial affordability + 15 year extended use period. Qualified Contract opt out option. 20-50 Minimum Tax Credit Set-aside: At least 20% of the units affordable at 50% or less AMI. 40-60 Minimum Tax Credit Set-aside: At least 40% of the units affordable at 60% or less AMI.
Funds Available Per Project	Qualified Basis x Applicable Credit Percentage = Maximum Credit Amount
Primary Contact	Email the Multifamily Housing Finance and Development Programs about the 2016 Funding Round. Georgia Department of Community Affairs 60 Executive Park South, N.E. Atlanta, Georgia 30329-2231
Link	Housing Tax Credit Qualified Allocation Plan Documents

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Published : June 29, 2016 | Category : Finance Toolbox

Low Income Housing Tax Credit (LIHTC) 4% – GA Department of Community Affairs