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Oregon to Bypass 2017 LIHTCs to Fill Gaps, Fund Additional 2016 Applicants

Friday, February 10, 2017 - 4:00PM

Citing uncertainty in the low-income housing tax credit (LIHTC) equity market, Oregon Housing and Community Services (OHCS) announced today that it will not issue a 2017 LIHTC and HOME notice of allocation authority (NOAA) in order to make $7.6 million in 9 percent LIHTC awards to additional 2016 applicants while reserving some credits for gaps in the 9 percent developments that received 2016 awards. OHCS Director Margaret Salazar stressed that the agency does not plan to fill the entirety of any funding gap. Salazar said OHCS Housing Finance staff will contact all 2016 applicants who didn’t receive awards by the end of February to initiate the process.

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