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New York State Division of Housing and Community Renewal Announces Availability of Federal LIHTCs

Tuesday, November 5, 2002 - 1:45AM

The New York State Division of Housing and Community Renewal (NYSDHCR) last week announced the availability of federal tax credits under the low-income housing tax credit (LIHTC) program. NYSDHCR expects to have approximately $24 million available for LIHTC reservations. Applicants for low-income housing tax credit allocation may request a maximum of $1.5 million in annual credits. Of the $24 million available, as much as $2 million may be made available for preservation projects as defined in NYSDHCR's qualified allocation plan (QAP) dated April 17, 2001. Applications for LIHTCs are due by 5 p.m., March 24, 2003 and NYSDHCR expects to mail notices regarding the status of applications in July 2003. Application packages will be available next week at NYSDHCR regional offices.

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