2011 LIHTC

Yesterday, the Pennsylvania Housing Finance Agency (PHFA) conditionally approved  $30 million in low income housing  tax credits to 33 developments throughout the state. Below is a list of the developments provisionally awarded tax credits:

Multifamily Awards

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From the CHFA Website – “CHFA received 23 Letters of Intent from developers planning to apply for Low Income Housing Tax Credits (LIHTC) in the second allocation round of 2011. Intending applicants indicated requests for more than $22 million in credit. CHFA has set aside $1,050,000 in credit for the Denver Housing Authority’s HOPE VI project, South Lincoln Park Phase II. Approximately $5.6 million in credit remains available for allocation in Round Two”:

LIHTC_LOI_Round2_2011

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The Arizona Department of Housing preliminarily awarded 9 applications $13,162,503 for the development of 799 units. The Department had received 32 applications requesting $36,250,038 for the development of 2,204 units, giving Arizona an oversubscription rate of 175.40% on a credits requested basis:

2011 LIHTC Preliminary Award & Waiting List

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The Maryland Department of Housing and Community Development (DHCD) received 31 applications requesting $39.3 million of Rental Housing Funds (RHF) and $31.1 million of federal Low Income Housing Tax Credits (LIHTC) proposing to create 1,147 family and 888 senior units. Eight projects with scores of 267 and above were awarded a total of $7.9 million in RHF and $8.0 million in annual LIHTC. The awards represent about 43% of the Department’s FY 2012 Rental Housing Funds, all of the CY 2011 and about half of the CY 2012 Tax Credit allocation:

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View the official announcement here

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The Wisconsin Housing and Economic Development Authority announced a special LIHTC allocation round in response to “the economic impact of a large ship building contract awarded to Marinette Marine Corporation (MMC). In particular, the special round of allocations will be made to address the “immediate housing needs in Marinette.”

Applications will be accepted through WHEDA’s online system.
Deadline: August 26 to September 16, 2011 (5:00 p.m. CST).
Read the announcement here and the fact-sheet here.

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The Delaware State Housing Authority (DSHA) has released  their application ranking for the 2011 Low Income Housing Tax Credit application cycle. Below is a pdf of the rankings for your viewing pleasure:

2011DSHAtaxcreditpreliminaryranking

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Last Wednesday, the Virginia Housing Development Authority  released their final rankings for the 2011 LIHTC application cycle. VHDA awarded $13,931,101 in credits to 24 projects. Below is a table of credits awarded and available by pool:

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See the full ranking here or view a full table of applicants with credits applied for and credits awarded here.

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Today, the Iowa Finance Authority announced it’s 2011 LIHTC awards.  According to a press release, the Authority received 59 applications requesting more than $37, awarding $10.3 in housing tax credits to fifteen projects. Assuming $37 million in credits applied for, Iowa’s LIHTC oversubscription rate is 259%.  Below is the press release:

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IOWA FINANCE AUTHORITY ANNOUNCES MORE THAN $111 MILLION IN HOUSING AWARDS TO SPUR NEARLY 800 AFFORDABLE HOUSING UNITS

Federal Housing Tax Credits, HOME funding boost affordable housing throughout the state

DES MOINES – The Iowa Finance Authority (IFA) today announced awards of more than $111 million to build or rehabilitate nearly 800 units of affordable housing. The awards were granted from the federal Housing Tax Credit and HOME programs.

“The affordable housing awards announced today will not only provide thousands of Iowans with quality affordable housing opportunities for generations to come, but will also help to stimulate neighborhoods and communities throughout the state,” said Executive Director Dave Jamison. “I congratulate the developers and organizations awarded the vital funding to move their projects forward today and thank them for sharing in IFA’s commitment to safe, decent and affordable housing for all Iowans.”

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