HUD Releases Revised 2001 DDA List

Saturday, October 13, 2001 - 1:15am

The U.S. Department of Housing and Urban Development (HUD) has released its revised 2001 list of designated Difficult Development Areas (DDAs), according to a recent Federal Register notice. Low-income housing tax credit (LIHC) projects located in DDAs are eligible for up to 130 percent of the regular credit amount. The revised DDAs reflect the deletion of some areas from the prior year’s list. HUD defines DDAs as areas with high construction, land or utility costs relative to area median income or fair market rents. The revised DDAs are effective for tax credit allocations made after Dec. 31, 2000.