Mississippi to Consider Additional LIHTCs for Properties Affected by COVID-related Construction Cost Increases

The Mississippi Home Corporation (MHC) will consider requests from developers for additional low-income housing credits (LIHTCs) for properties that face construction cost increases due to the COVID-19 pandemic. In Program Bulletin #21-003, the MHC said it would consider requests for properties that were awarded credits in 2019 and 2020, with an additional-award limit of 15% of the original credit award. The bulletin outlined what must be included in the requests and said the requests must be submitted by email before the close of business Aug. 2. The award recommendations will be submitted for approval at the Sept. 8 MHC board meeting and will be funded from the 2023 annual LIHTC authority.

How the COVID-19 pandemic has affected LIHTC properties will be a key topic at the Novogradac 2021 Affordable Housing Tax Credit and Bond Conference, Sept. 30-Oct. 1 in Nashville.