Transcription of The Low-Income Housing Tax Credit (LIHTC) program was ...
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The Low-Income Housing Tax Credit (LIHTC) program was ...
1 2 Contents I) introduction .. 4 A. Purpose of the QAP .. 4 B. Authority Mission Statement .. 4 C. Authority Policy Priorities & Objectives .. 4 D. Code Required Selection Criteria and Preferences .. 5 E. State Comprehensive Housing Planning Act .. 6 II) General Provisions .. 6 A. Changes to the QAP .. 6 B. Authority Rights .. 6 C. Authority Limitations .. 7 D. Project Application Disclosures .. 7 E. The Fair Housing Act .. 8 F. Affirmatively Furthering Fair Housing .. 8 III) Tax Credit Information .. 8 A. Tax Credit Calculation .. 8 B. 4% Tax Credit Projects .. 9 C. 9% Tax Credit Projects .. 11 IV) Geographic Set-Asides .. 11 A. Percentages for All Set-Asides .. 11 B. Set-Aside Descriptions .. 12 C. Statewide Set-Aside .. 12 V) Project Application Process .. 12 VI) Preliminary Project Assessment .. 13 A. About the 13 B. Timing .. 13 C. PPA Submission .. 13 D. Fees .. 13 E. PPA Evaluation .. 13 F. PPA Review/Outcome Strategy.
I) Introduction A. Purpose of the QAP The Low-Income Housing Tax Credit (LIHTC) program was created by the United States Congress in 1986 to promote the development of affordable housing for low -income individuals and families.
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