Wisconsin HTC Cap Affects LIHTC Applications
The recent change to cap Wisconsin state historic tax credit (HTC) awards at $500,000 per property beginning July 1, 2018, may affect low-income housing tax credit (LIHTC) applications that are due Dec. 8. For Wisconsin applicants receiving more than $500,000 in state HTCs, the Wisconsin Housing Economic Development Authority (WHEDA) must receive evidence of approval of Part 1 of the HTC application and submission of Part II by Feb. 15, 2018, for financial participation points for the equity. Applicants who don’t expect Part I approval or to submit Part II of the application before Feb. 15, 2018, may include state HTC equity from an award of up to $500,000 in state HTCs for financial participation points. The WHEDA 2018 LIHTC web page has more information.