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NYDHCR Announces LIHTC Availability, Guidelines

Wednesday, November 10, 2004 - 1:45AM

The New York State Division of Housing and Community Renewal (NYDHCR) last week announced the availability of low-income housing tax credits (LIHTCs) for 2005. NYDHCR expects to have approximately $20 million available for LIHTC reservations. The maximum amount of the annual tax credit allocation that may be requested per application is $1 million. Applicants requesting LIHTCs for projects in which 50 percent or more of the units will serve large families or special needs populations, and that will provide services to those special populations, may request as much as $1.2 million. Of the $20 million available, as much as $2 million may be made available for preservation projects as defined in NYDHCR's qualified allocation plan (QAP) dated April 17, 2001. Additionally, an amount of as much as $2 million may be made available for redevelopment of public housing that has met the conditions for approvals required under the New York State Public Housing Law. Applications must be delivered to NYDHCR by 5 p.m., February 28, 2005.

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