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HUD Memo Lifts $25 Million Cap on Loans in New LIHTC Pilot Program

Monday, June 12, 2023 - 11:00AM

The U.S. Department of Housing and Urban Development (HUD) today issued a memorandum lifting the $25 million cap on loans in the new low-income housing tax credit (LIHTC) pilot program instituted in 2019. The pilot program extends the streamlined processing to new construction and substantial rehabilitation transactions under the HUD Section 221(d)(4) and Section 220 programs. Previously, there was a loan cap of $25 million, but HUD is lifting the cap to better align and incentivize borrowers and lenders to use the new pilot program.

The Novogradac Introduction to HUD Multifamily Rental Housing Programs booklet serves as an introduction to the HUD multifamily rental development programs most used by affordable housing developers.

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