Preliminary Project Assessment (PPA) Documents. Required submission for all IHDA resource requests. Must receive PPA approval prior to making a full application.

MF Portal Account Request Form

In order to submit your PPA, you must first request an account for the MF Portal. Please click the link above to access the MF Portal Account Request Form and fill out the online form. Please allow three business days to receive your login information to access the MF Portal. If you have not received your account information within three business days, please reach out to mfportalhelp@ihda.org.

If you have already submitted an account request form and have forgotten your Username or Password, please contact mfportalhelp@ihda.org for assistance.

2020-2021 Preliminary Project Assessment (PPA) Workbook

The updated 2020-2021 Preliminary Project Assessment (PPA) Workbook. This current version of this PPA Workbook is to be used when applying for an non-PSH IHDA administered program that requires a PPA and consists of a single Microsoft Excel file.  Only this current version will be accepted.

Round VII Permanent Supportive Housing Preliminary Project Assessment (PPA) Workbook – For PSH Projects Only

All Permanent Supportive Housing projects must complete a PSH Preliminary Project Assessment form. PPAs are due to IHDA by  5:00pm on August 6, 2021. Please refer to the Permanent Supportive Housing section below for more information and other application documents

PPA Status and IHDA Portfolio and Pending Projects Map

As PPAs for IHDA resources are now accepted on a rolling basis, IHDA provides the status of PPAs received and approved to date.  The status of all PPAs and applications for IHDA resources, as well as IHDA’s current portfolio can be found via the IHDA Portfolio and Pending Projects Map.

Multifamily Fee Payment Form

Multifamily fee payment form to be submitted with all PPA and full applications.

Reference documents that do not require submission

2020 – 2021 PPA Review Parameters

This document describes the various reviews that will be conducted for projects submitted for LIHTC PPA approval in conjunction with the 2020 – 2021 QAP.

PPA Data and Metrics Chart

The market data and metrics reviewed for the PPA are outlined in the 2020-2021 PPA Data and Metrics Chart. The chart is divided by the different PPA market review categories and the data and indicators used to examine each category are discussed.

Affordable Rental Unit Survey (ARUS)

The Affordable Rental Unit Survey is an analysis of affordable rental housing concentrations in every census tract in the State (organized by county).  The background and methodology is detailed here.

Current Qualified Allocation Plan:

2020-2021 Qualified Allocation Plan (QAP)

2020-2021 Governor approved QAP. Updated October 2019.

Draft 2022-2023 Qualified Allocation Plan Materials:

Draft 2022-2023 QAP for Public Comments

  • Revised Section D.ii. Minority- & Women-Owned Business Enterprises as of 7/16/21

2022-2023 Food Access PPA Verification Process

Quality of Life Index (QOLI)

Underwriting Standards Guide (DRAFT)

Required submission for all IHDA resource requests – excludes IAHTC only

Mandatory Application Checklist

2020-2021 Mandatory Application Checklist for multifamily programs.  Updated February 2020.

Multifamily Fee Payment Form

Multifamily Fee Payment Form to be submitted with all PPA and full applications. Updated February 2020.

Common Application

The 2020-2021 Common Application. To be submitted after PPA approval and required for all IHDA resource requests. Updated June 2020.

Application Certification, Organizational Chart and Identity of Interest Certification

Organizational Chart and Identity of Interest Certification form. Updated February 2020.

Historic Preservation Checklist

Historic Preservation Checklist form. Updated February 2020.

Architectural Standards, Universal Design and Amenities Certification

Architectural Standards, Universal Design and Amenities Certification form. Updated December 2020.

Certification of Project Scope Outline

Guide for Sponsors and architects in the preparation of the written project scope. Updated February 2020.

Relocation Checklist

To be used for all projects involving the acquisition or rehabilitation of any property that is occupied by residential or commercial tenants as of the application date. Both temporary and permanent relocation require completion of this checklist. Updated February 2020.

Development Experience Certification: Sponsor

Sponsor experience certification. Updated February 2020.

Development Experience Certification: General Contractor

General contractor experience certification. Updated February 2020.

Development Experience Certification: Architect

Architect experience certification. Updated February 2020.

Development Experience Certification: Property Manager

Property manager experience certification. Updated February 2020.

Statewide Referral Network Agreement

Statewide Referral Network agreement. Updated September 2020.

Exclusive to 9% Low Income Housing Tax Credit (LIHTC) applications. To be submitted with full application.

LIHTC Scoring Certification Forms

2020-2021 9% LIHTC scoring certification form. Updated March 2020.

Sustainable Design Checklist

2020-2021 Sustainable Design Checklist. Updated February 2020.

Community Revitalization Strategy Thresholds and Scoring Criteria

Community Revitalization Strategy Scoring.

2021 LIHTC Application Round Frequently Asked Questions

Answers to common questions you may have as you fill out your 2021 LIHTC application. Updated January 2021.

2020-2021 Soft Funds Limits

2020-2021 Soft Funds Limits. Updated October 2020.

2020 LIHTC Application Round Frequently Asked Questions

Answers to common questions you may have as you fill out your 2020 LIHTC application. Updated March 2020.

2020 IHDA Final Guidance on 4% Tax-Exempt Bonds (TEB) Transactions

Final guidance on requests for tax-exempt bonds and 4% low-income housing tax credits. Updated and effective February 7, 2020.

2019 LIHTC Application Round Frequently Asked Questions

Answers to common questions you may have as you fill out your 2019 LIHTC application.

2018 LIHTC Application Round Frequently Asked Questions

Answers to common questions you may have as you fill out your 2018 LIHTC application.

2021 Income/Rent Limits

2021 all programs rent and income limits

2020 Income/Rent Limits

2020 all programs rent and income limits

2019 Income/Rent Limits

2019 all programs rent and income limits

2018 Income/Rent Limits

2018 all programs rent and income limits

2017 Income/Rent Limits

2017 all programs rent and income limits

2018 Illinois Qualified Census Tracts

List of HUD-designated QCTs.

2017 Illinois Qualified Census Tracts

List of HUD-designated QCTs.

2018 Illinois List of HUD-Qualified Difficult to Develop Areas

List of HUD-designated DDAs.

2017 Illinois List of HUD-Qualified Difficult to Develop Areas

List of HUD-designated DDAs.

Local Consolidated Plans

List of jurisdictions with local Consolidated Plans. Updated October 2017.

Site Control Compliance Language

Site Control Compliance Language.

Standards for Property Needs Assessments

Property needs assessment requirements for multifamily rehabilitation projects.

Other Metro Set-Aside Places

Places within the Other Metro Set-Aside for LIHTC applications. Updated November 2017.

2020-2021 Site and Market Study Summary Form

2020-2021 Market study form.

2020 – 2021 Standards for Site and Market Study Reviews and Professionals

2020-2021 Site and market requirements for ALL multifamily projects. 

2020-2021 Grand Total Hard Cost Limits

Total hard cost limits by bedroom type and geographic set-aside for the 2020-2021 QAP. Updated February 2020.

Sample Tax Credit Calculation Method

Example calculating eligible tax credit amount based on qualified basis and equity gap methods. Updated November 2015.

2020 Operating Expense Range

Annual per-unit operating expenses allowed by project type and geographic set-aside. Updated February 2020

IHDA Standards for Appraisals

Documentation of standards for appraisals. Updated December 2015.

IHDA’s Multifamily Properties

List of current multifamily developments financed by IHDA. The list contains developments that have closed. Updated July 2021.

IHDA’s Multifamily Properties with Accessible Units

List of current multifamily developments financed by IHDA with accessible rental units. The list contains developments that have closed. Updated July 2021.

2020 HOME Maximum Subsidy Limits

HOME Maximum Per-Unit Subsidy Limits. Updated December 2020.

2013 HOME Final Rule

Overview of the 2013 HOME Final Rule.

Reference documents exclusive to 9% LIHTC applications.

AHPAA Municipalities

Municipalities subject to the Affordable Housing Planning and Appeal Act. Updated December 2018. Please note that the AHPAA Municipalities will be updated in December of 2023.

2020 – 2021 Site and Market Study Review Criteria and Scoring

2020 – 2021 Site and Market Study Review Criteria and Scoring.

Community Revitalization Plan Thresholds Scoring and Criteria

This document describes how community revitalization strategies can meet Authority thresholds standards and competitively score under the competitive 9 percent LIHTC round in conjunction with the QAP.

Community Revitalization Plan – Map Tool for Determining if Developments are Located in a HUD R/ECAP Census Tract

This interactive map tool from PolicyMap will assist in determining if your development project is located in a HUD R/ECAP census tract.  Note that all projects located in a HUD R/ECAP census tract must submit a Community Revitalization Plan.

State Economic Development Resource Directory

The State Economic Development Resource Directory includes directions on how to use the Illinois workNet Center site, to determine if a resource is near your development, as well as lists for Small Business Development Centers and Vocational Schools. These resources are also referred to as Job Creation Entities in the Community Revitalization Strategies Scoring Thresholds and Criteria.

Opportunity Areas: Geographic Considerations and Determination Metrics – 2020 Update

Opportunity Areas are identified with publically-available data published by the federal government. IHDA has used specific geographic considerations and determination metrics to determine the Opportunity Areas. Updated October 2020.

Opportunity Areas: Current List

IHDA will publish a new list of Opportunity Areas every year with the Draft Qualified Allocation Plan and Opportunity Areas will retain the designation for at least 4 (four) years and as long they meet the identification criteria. New Opportunity Areas may be added with each determination. Updated October 2020.

2020 – 2021 Travel Time to Work by Tract

Mean travel time to work by Census Tract.

2020-2021 Statewide Referral Network Communities of Demand

The communities contained in this document were selected based on demand data generated by the Statewide Referral Network’s database, showing demand from persons on the waiting list for Statewide Referral Network units. The methodology for determining demand calculated the top 40% of communities in each set-aside and set a minimum demand of 50 persons per location.

Statewide Referral Network Fact Sheet

Information for property owners and managers about the Statewide Referral Network (SRN), other related resources, and their obligations as SRN participants.

Statewide Referral Network Agreement

Statewide Referral Network agreement. Updated September 2020.

Supportive Services for Veterans’ Families Awardees

FY 2017 Supportive Services for Veterans’ Families awardees. Updated October 2017.

Qualified Contract Process and Guidelines

Terms, conditions and procedures for qualified contract requests. Updated September 2017.

The Authority will not issue 8609(s) until the final draw request has been submitted and approved by the Authority.  The Authority also will not issue 8609(s) unless all fees and payments due to the Authority in connection with any Authority program have been paid.  All documentation must be submitted via email to Daisy Marchan at dmarchan@ihda.org.

Tips for applying for 8609

Provides tips for completing and applying for your 8609 form.

Checklist for 8609 issuance

LIHTC and 1602 checklist for issuance of IRS Form 8609.  Submit this checklist with your packet of materials.

Owner Certification Forms

LIHTC owner certification forms.

Fee Payment Form

Multifamily fee payment form to be submitted with your packet of materials.

Compliance Monitoring Agreement

Compliance Monitoring Fee Agreement is part of the Determination letter and should be submitted with your packet of materials.

Final Financing Form

Form to list the final sources and amounts of funds for your Tax Credit project.

Certification of Partnership Agreement 

Partnership agreement form to be submitted with your packet of materials.

Required submission for all IAHTC resource requests.

Application Checklist for ALL types of State Projects

Application checklist for projects requesting IAHTC.

Expanded Donation Form

Donation form required for all applications requesting IAHTC.

Certificate and Supporting Documentation Review

Checklist and review document that is issued after an IAHTC project is IHDA Board approved. All supporting documentation must be submitted via e-mail as a “Certificate Review Package” to IHDA for review prior to closing. Issuance of the state tax credit certificate depends upon IHDA’s review of this review package.

Multifamily Fee Payment Form

Multifamily fee payment form to be submitted with all PPA and full applications.

Historic Preservation Checklist

Historic Preservation Checklist. Updated November 2015.

Construction reference documents for all IHDA applications. *Note – Certificate of Completion and Permission to Occupy require submission prior to final project close out.

IHDA 2019 Standards for Architectural Planning and Construction

Standards for architectural planning and construction are provided as an aid for the design and construction of quality affordable housing. Updated December 2020.

IHDA Historic Preservation Requirements

IHDA standards for historic preservation compliance. Updated December 2017.

Standards for Environmental Reviews and Professionals

Environmental requirements for multifamily projects. Updated December 2017.

Standards for Construction Cost Estimating

Construction cost estimating requirements for multifamily projects. Updated December 2017.

Supplemental Professional Services Firm Requirements

Requirements for applicants to secure studies from professional services firms experienced in providing cost estimating services, market studies, Phase I Environmental studies, Rent Comparability Studies, and Property Needs Assessments. Updated December 2017.

IHDA Davis-Bacon Guidelines

Davis-Bacon wage guidelines for all projects funded in part by federal funds. Revised December 2019. This version includes examples.

Section 3 Plan & Compliance Guide

A user’s guide for Section 3 compliance. Updated July 2021.

UFAS Accessibility Checklist for PHA

HUD’s Uniform Federal Accessibility Standards (UFAS) accessibility checklist.

IHDA Lead-Based Compliance Guide

A user’s guide for addressing various lead-based paint related activities.

IHDA’s Summary Guidelines for Change Order Submittals

Change orders are required for any additional costs to the scope of work, any reduction in costs to the scope of work, or any no cost change to the scope of work.

IHDA’s Construction and Architectural Close Out Submittals

A guide to the criteria that must be met when a project is 95 percent completed.

IHDA Certificate of Completion

When the project is 95% complete, prior to final project close out, two copies of the IHDA Certificate of Completion form (Form CD-4) must be submitted to the IHDA Construction Field Representative.

IHDA Permission to Occupy

When the project is 95% complete, prior to final project close out, two copies of the IHDA Permission to Occupy form must be submitted to the IHDA Construction Field Representative.

Stored Materials Request Form

Requests will only be reviewed and considered prior to Initial Closing.  The Authority will allow advanced payments for on/off-site stored materials that are custom fabricated solely for installation for the funded project.

The Authority has authorization from the U.S. Department of Housing & Urban Development to conduct subsidy layering reviews (SLRs) for newly constructed and/or rehabilitated multifamily projects that: 1) have received an allocation of Low Income Housing Tax Credits from the Authority, and 2) will receive project-based voucher (PBV) rental assistance. Questions may be directed to slr@ihda.org.

SLR Instructions

SLR Request Template

SLR Application & Checklist

HUD Form 2880

2018-2019 Qualified Allocation Plan (QAP)

2018-2019 QAP. Updated October 2017.

2016-2017 Qualified Allocation Plan (QAP)

2016-2017 QAP. Updated January 2016.

2015 Qualified Allocation Plan

2015 QAP. Updated January 2015.

2015 QAP Revisions

2015 QAP revisions. Posted March 2015.

2014 Qualified Allocation Plan

2014 QAP. Updated May 2014.

2013 Amended Qualified Allocation Plan

Amended 2013 QAP. Updated September 2013.

2012 Qualified Allocation Plan

2012 Governor QAP. Updated October 2011.

2021 Permanent Supportive Housing Development Program Round VIII Request for Applications

The Illinois Housing Development Authority (“IHDA”) is now accepting applications under its Permanent Supportive Housing (PSH) Development Program. Financing is available for the acquisition, rehabilitation, and/or new construction of PSH projects that serve the most vulnerable populations and that offer flexible, voluntary supportive services designed to increase housing stability.

IHDA expects most applications will be for 100% PSH projects of 25 or fewer units and that requests will generally be up to $8,500,000 or 90% of the total project cost, whichever is less. A project concept meeting and approval of a Preliminary Project Assessment are required prior to submitting an application. Mandatory application workshops will be offered in September.

Preliminary Project Assessments are due to IHDA by 5:00 p.m. CT on Friday, August 6, 2021.

Applications are due to IHDA by 5:00 p.m. CT on Friday, October 22, 2021.

You may find the Request for Applications in the link below:

2021 Permanent Supportive Housing Development Program Round VIII Request for Applications

Questions and requests for project concept meetings should be directed to pshrfa@ihda.org.

 

2021 Round VIII Submissions

2021 Permanent Supportive Housing Development Program (PSHDP) PPA Submissions

 

2020 Round VII Submissions and Approvals

2020 Permanent Supportive Housing Development Program (PSHDP) Approvals 

2020 Permanent Supportive Housing Development Program (PSHDP) Applications Received

2020 Permanent Supportive Housing Development Program (PSHDP) PPA Submissions Approvals

2020 Permanent Supportive Housing Development Program (PSHDP) PPA Submissions

 

2019 Round VI PSH Submissions and Approvals

2019 Permanent Supportive Housing Development Program (PSHDP) Submissions Approvals

2019 Permanent Supportive Housing Development Program (PSHDP) Submissions Received  

 

2018 Round V PSH Submissions and Approvals

2018 Permanent Supportive Housing Development Program (PSHDP) Approvals

2018 Permanent Supportive Housing Development Program (PSHDP) Submissions Received  

 

2017 Round IV PSH Submissions and Approvals

2017 Permanent Supportive Housing Development Program (PSHDP) Approvals 

PSHDP Round IV Submissions Received

Notice Regarding Hybrid Meeting Format for IHDA Board, Finance and Asset Management Committee Meetings – August 20, 2021

Sent August 18, 2021

Updates to the Illinois Housing Development Authority’s 2022-2023 Draft QAP

Sent July 16, 2021

Notice Regarding Hybrid Meeting Format for IHDA Board and Finance Committee Meetings – July 16, 2021

Sent July 13, 2021

Deadline Approaching: Funding Available for Permanent Supportive Housing Development

Sent July 7, 2021

IHDA’s Draft 2022 – 2023 Qualified Allocation Plan and Public Comment Period

Sent July 6, 2021

Notice Regarding Hybrid Meeting Format for IHDA Board, Finance and Audit Committee Meetings – June 18, 2021

Sent June 15, 2021

Funding Available for Permanent Supportive Housing Development

Sent June 4, 2021

Notice Regarding Meeting Format Change for IHDA Board, Finance and Asset Management Committee Meetings – May 21, 2021

Sent May 14, 2021

2022 QAP Summits – Register Today!

Sent April 28, 2021

IHDA Receives SLR Approval

Sent April 6, 2021

Notice Regarding Meeting Format Change for IHDA Board, Finance and Audit Committee Meetings – March 19, 2021

Sent March 16, 2021

Illinois Housing Development Authority (IHDA) 4% LIHTC Fixed Rate Floor Guidance and 2021-2022 Deal Pipeline Information

Sent February 11, 2021

Notice Regarding Meeting Format Change for IHDA Board. Finance and Asset Management Committee Meetings – February 19, 2021

Sent February 11, 2021

Notice Regarding Meeting Format Change for IHDA Board and Finance Committee Meetings – January 15, 2021

Sent January 12, 2021

Request for 2021 and 2022 Tax-Exempt Bond Information

Sent January 6, 2021

Notice Regarding Meeting Format Change for IHDA Board and Committee Meetings – December 18, 2020

Sent December 14, 2020

Notice Regarding Meeting Format Change for IHDA Board and Committee Meetings – November 20, 2020

Sent November 5, 2020

Notice Regarding Meeting Format Change for IHDA Board, Finance and Audit Committee Meetings – October 16, 2020

Sent October 16, 2020

Notice Regarding Meeting Format Change for IHDA Board and Finance Committee Meetings – September 18, 2020

Sent September 15, 2020

2021 LIHTC PPA and Application Timeline

Sent September 1, 2020

Deadline Approaching: New Funding Available for the Creation of Community-Based Permanent Supportive Housing

Sent August 5, 2020

Notice Regarding Meeting Format Change for IHDA Board, Finance and Asset Management Committee Meetings – August 21, 2020

Sent August 3, 2020

Notice Regarding Meeting Format Change for IHDA Board and Finance Committee Meetings – July 17, 2020

Sent July 14, 2020

New Funding Available for the Creation of Community-Based Permanent Supportive Housing

Sent July 6, 2020

Notice Regarding Meeting Format Change for IHDA Board, Finance, and Audit Committee Meetings – June 19, 2020

Sent June 16, 2020

New Funding Available for the Creation of Community-Based Permanent Supportive Housing

Sent May 15, 2020

Now Accepting Requests for Stored Materials as a Result of COVID-19

Sent May 11, 2020

Notice Regarding Meeting Format Change for IHDA Board, Finance, and Asset Management Committee Meetings – May 15, 2020

Sent May 4, 2020

Deadline Approaching for Federal LIHTC Relief

Sent April 30, 2020

Federal Low Income Housing Tax Credit Relief Under IRS Revenue Procedure 2014-49

Sent April 21, 2020

Notice Regarding Meeting Format Change for IHDA Board and Finance Committee Meetings – April 16, 2020

Sent April 10, 2020

2020 4% Low Income Housing Tax Credit (LIHTC) Application Deadlines Update

Sent March 25, 2020

2020 9% Low Income Housing Tax Credit (LIHTC) Application Deadline Update

Sent March 18, 2020

2020 9% LIHTC Round Updates

Sent March 6, 2020

2020 9% Low Income Housing Tax Credit Application Materials and Final Guidance on 4% Transactions – Now Available

Sent February 7,  2020

2020 Preliminary Project Assessments and 9% Low Income Housing Tax Credit Application Timing Updates

Sent January 31, 2020

Pending Guidance on Requests for Tax-Exempt Bonds and 4% Low-Income Housing Tax Credits

Sent January 13, 2020

Time and Date for Listening Session Regarding Pending Guidance on Projects with Rental Assistance Contracts Requesting Tax-Exempt Bonds and 4% Low-Income Housing Tax Credits

Sent December 10, 2019

Pending Guidance on Projects with Rental Assistance Contracts Requesting Tax-Exempt Bonds and 4% Low-Income Housing Tax Credits

Sent December 6, 2019

2020-2021 Qualified Allocation Plan (QAP) and 2020 Application Timelines Now Available

Sent October 25, 2019

Important Multifamily Updates

Sent August 27, 2019

Permanent Supportive Housing PSH Development Program Technical Assistance Sessions

Sent August 7, 2019

New Funding Available for the Creation of Community-Based Supportive Housing

Sent August 2, 2019

2020 QAP Summits – Register Today!

Sent April 10, 2019

Save the Dates – 2020-2021 QAP Summits

Sent February 25, 2019

Reminder: 2019 LIHTC Applications & FAQs Available and Multifamily Portal Update

Sent January 14, 2019

2019 LIHTC Applications and FAQs

Sent January 10, 2019

REMINDER: Request For Tax-Exempt Bond Information and PPA Deadline 

Sent October 31 , 2018

Request For Tax-Exempt Bond Information and PPA Deadline Reminder

Sent October 11 , 2018

Multifamily Transaction Timeframes and Year-End 2018

Sent August 23, 2018

Updated PPA and Application Timelines and Income Averaging Update

Sent August 3, 2018

Long Term Operating Support (LTOS) Program Update

Sent July 30, 2018

PSH Development Program Update

Sent May 22, 2018

Illinois Housing Development Authority Multifamily Deal Deadlines

Sent May 2, 2018

Important Multifamily Portal Update

Sent April 25, 2018

New Funding Available for the Creation of Community-Based Supportive Housing

Sent April 23, 2018

ComEd® Energy Efficiency Program Affordable Housing New Construction Webinar

Sent March 20, 2018

Illinois Housing Development Authority-Updated Conduit Bond Program Manual

Sent March 9, 2018

2018 LIHTC Applications and FAQs

Sent February 6, 2018

Technical Assistance Sessions – Register Today!

Sent November 20, 2017

Multifamily Client Alert Related to Tax-Exempt Bond Deals

Sent November 15, 2017

2018-2019 Preliminary Project Assessment (PPA) Workbook Now Available and 2018-2019 Application Timeline Reminders

Sent November 9, 2017

2018-2019 Qualified Allocation Plan (QAP) Now Available and Application Timelines

Sent October 26, 2017

2017 QAP Summits – Updated Location & Times

Sent June 22, 2017

2017 QAP Summits – Register Today

Sent June 15, 2017

2017 LIHTC Application FAQs

Sent May 19, 2017

Development Team Scoring Timing Update For Approved Preliminary Project Assessments

Sent May 11, 2017

4% Low-Income Housing Tax Credits – Effective January 12, 2017

Sent January 12, 2017

9% Low Income Housing Tax Credits – Effective January 1, 2017

Sent January 3, 2017

Permanent Supportive Housing Development Program – Effective January 1, 2017

Sent January 3, 2017

2017 Low Income Housing Tax Credit Preliminary Project Assessment (“PPA”) Update 

Sent December 20, 2016

New Financing Available for the Creation and Operation of Community-Based Supportive Housing

Sent December 1, 2016

Updated PPA and Application Timeline 2021 9% LIHTC

Preliminary Project Assessments (PPA’s) and Low Income Housing Tax Credit (LIHTC) Applications are now accepted via the Multifamily Portal. In order to gain access to the Multifamily Portal, please submit a MF Portal Account Request Form from the IHDA website or you may find the form at https://ppa.ihda.org.

You may see the key dates below:

Event Date
October PPA Deadline for 2021 LIHTC Applications 10/2/2020
November PPA Notification to Sponsors 11/20/2020
January 2021 LIHTC Applications Due 1/22/2021
May 2021 LIHTC Recommendations to Board 5/21/2021

PPA and Application Timeline 2021 4% LIHTC

  • IHDA will accept 4% LIHTC applications on a rolling basis through December 31, 2020. IHDA will endeavor to notify Sponsors within 45 days of the Authority’s receipt of the request for 4% PPA approval.
  • Any 4% applications with an approved PPA may be submitted on a quarterly basis, beginning in 2021. Please see the Multifamily Transactions Timeframes for more information on application deadlines.

As is well known throughout the affordable housing industry, Congress recently created a new occupancy set-aside option known as “income averaging.” Instead of electing the 20/50 or 40/60 minimum set-aside, an owner may elect an income averaging set-aside. This allows a property to serve households up to 80% AMI, as long as at least 40% of the total units are rent and income restricted and the average income limit for all tax credit units in the project is at or below 60% AMI.

The Authority understands its stakeholders are excited to take advantage of this new option to better serve the needs of those seeking affordable housing. Given the nuances of this new set-aside option, the Authority is carefully reviewing applicable law and industry guidance with the goal of developing a policy around income averaging that will ensure the Authority can continue to administer the low-income housing tax credit (“LIHTC”) program in the most effective and efficient way possible.

As the Authority continues its analysis of this new set-aside option, the Authority wanted to provide some information about the parameters currently being considered. The information in this bulletin is not intended to be conclusive or exhaustive. The Authority’s final policy may or may not include the elements discussed below. In addition, if determined to be applicable, the Authority will take steps to amend the 2018-2019 Qualified Allocation Plan.

Please note, developments will be ineligible to select income averaging if: (i) the development received 9% LIHTC award from the Authority in 2018 (or earlier); or (ii) the development receives a 9% award from the Authority in 2019; or (iii) the development already has a recorded Extended Use Agreement (including resyndications); or (iv) the development already filed a Form 8609.

Developments seeking 4% LIHTC’s that desire to elect income averaging will be considered by the Authority on a case-by-case basis. Tax exempt bond developments will still need to meet all applicable bond-related compliance requirements.

Additionally, the Authority is in the process of updating the Affordable Rental Unit Survey (ARUS) to reflect all the allowable income levels under income averaging. Please click the link below for additional information.

https://ihda.org//developers/market-research/affordable-rental-unit-survey/

 

Anticipated mandatory requirements for any development requesting to elect income averaging: 

  • All units must be designated low income; the development may not contain unrestricted or market rate residential units.
  • Designated income/rent levels may only be set at 10% increments beginning at 20% of AMI. Allowable income/rent designation levels are 20%, 30%, 40%, 50%, 60%, or 80% of AMI.  The Authority reserves the right to limit the number of AMI designations per property.

Anticipated supplemental application items for any development requesting to elect income averaging:

  • Written acknowledgement from the LIHTC equity investor that income averaging is compatible with requirements of other public and private funding sources.
  • Written acknowledgement from the property manager regarding the compliance implications and commitment to provide annual income averaging training to on-site property management.
  • Payment of an additional application fee to re-underwrite the development, if applicable.
  • Payment of an additional compliance fee to reflect increased monitoring requirements for developments that elect income averaging.
  • Updated common application.
  • Updated market study demonstrating sufficient market demand for each income bracket proposed.

2021 Multifamily Transaction Timeframes

Please review the timeframes required to review, underwrite, approve, and close transactions utilizing resources from the Authority.  The deadlines are most relevant for 4% bond deals, but all resources will follow the same timeframes.  We will move transactions along as quickly as possible based on the applicable resources requested.  The timeframes bring clarity to the process so all deal stakeholders have consistent expectations of the timing needed to close transactions.

Form Legal Certifications

The legal forms and certifications below are intended for Developments that have received IHDA funding, are for reference purposes only and are subject to change without notice.

Architect’s Certificate

Books and Records Certifications

Debarment Certification

Drug Free Workplace Certification (Federal)

Drug Free Workplace Certification (State)

Fair Housing Certification (Federal Tax Credit)

Fair Housing Certification (State Tax Credit)

Final Financing Form

HOME Lease Rider 2017

Identity of Interest Affidavit

Lobbying Certification

No Identity of Interest Affidavit

Owners Certification

Ownership Structure Certificate (Sample)

Plans Certificate (tax credits)

Plans Certificate

TIN Certification

Multifamily Financing Closing Due Diligence

The forms below are for for developments have received IHDA funding.  They should be completed by the Development Team actively working on the closing.

Checklist for allowable Marketing Lease Up, Non Marketing Lease Up and FF & E reimbursements along with process instructions

Construction Draw Process

IAHTC review form – includes Sponsor Certification Donor Certification and IAHTC final financing form

Insurance and Bond Requirements – for projects with IHDA loans for new construction or rehab

Fillable Owner Sworn Statement for Tax Credit projects

Fillable Owner Sworn Statement for Non Tax Credit projects

Fillable Sources Statement for Tax Credit projects

Fillable Sources Statement for Non Tax Credit projects

Fillable Contractor Sworn Statement

Fillable Check Request

Fillable Marketing Plan

Fillable Marketing Request Spreadsheet to be used for each Marketing Request

LIHTC Final Financing Form

Marketing Agreement (Universal)

Relocation Plan (HUD)

Standard Relocation Plan