Sponsor Eligibility | 10% of the available 9% Credits are set aside for non-profit- sponsored Applications. – 51% ownership of GP Interests – NPO must materially participate Each Project Team must demonstrate the qualifications necessary to successfully own, develop and operate a proposed tax credit project. Applicants will be limited to direct or indirect Ownership/Development interest in a maximum of two (2) selected projects. |
Types of Projects Funded | New Construction
Preservation – DCA will award five (5) points to up to seven (7) Applications that best meet DCA?s preservation priority. |
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 | DCA will not award more than $1,000,000 of Credits to any project in the competitive round. |
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 |