Affordable housing / 221(D)(4) lihtc pilot

Section 221(d)(4)/220 Pilot Western Lenders Conference September 18-20, 2017 Elizabeth H. Arteaga Housing Program Officer, LIHTC Program

Section 221(d)(4)/220 LIHTC Notice Background: Section 223(f) Tax Credit Pilot program accomplishments. Goal: Streamlined processing under 2 Processing Tracks Eligible Projects: 221(d)(4)/220 NC or SR with LIHTC

Expedited Approval Processing 9% LIHTC; max. LTC 65% 4% or 9% LIHTC w/ Section 8; max. LTC 75% Lender Responsibilities HUD’s Responsibilities Goal: close within 90 calendar days 4/15/2015 PRE-DECISIONAL, PROPRIETARY, and CONFIDENTIAL

Standard Approval Processing 4% or 9% LIHTC re-syndications w/o Section 8; max. LTC 75% Lender Responsibilities HUD’s Responsibilities Goal: close within 120 calendar days 4/15/2015 PRE-DECISIONAL, PROPRIETARY, and CONFIDENTIAL

PRE-DECISIONAL, PROPRIETARY, and CONFIDENTIAL Program Requirements Eligibility Requirements: low risk, ‘clean’, exp. team Non-eligible projects: longer processing times General Application Requirements 4/15/2015 PRE-DECISIONAL, PROPRIETARY, and CONFIDENTIAL